PFCP remains biggest Czech pension fund by number of clients in 2011

By bne IntelliNews February 28, 2012
PF Ceske Pojistovny (PFCP) remained the biggest pension fund in the Czech Republic with 1.162mn clients as of end-2011, CTK newswire reported citing data from the Czech Association of Pension Funds. The fund managed to keep its leadership position although it lost 18,000 clients last year. Pension fund Allianz was the one that attracted the highest number of new clients in 2011 increasing its client base by 48,000 to 212,000 users. Pension fund Ceske sporitelny (PFCS) followed with 30,000 new clients, boosting the number of clients to 938,000 people. AXA, ING and CSOB PF Stabilita were the big losers registering annual declines in clients of 27,000, 21,000 and 19,000 respectively. Overall, the number of clients of Czech pension funds increased by 4,000 to 4.599mn as of end-2011. The aggregate profit of Czech pension funds edged down 0.4% y/y to CZK 4.55bn (EUR 182mn) in 2011. The most profitable fund was PFCP with a profit of CZK 911mn, followed by AXA with a profit of CZK 575mn and PFCS generating a profit of CZK 874mn.
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