At the end of June 2023, mandatory pension funds' (MPFs) net assets totalled €18.9 billion, up by €1.4bn (7.6%) from the beginning of the year, whereby the decline in the value of MPFs’ net assets recorded in 2022 was completely compensated for, the HANFA regulator says in its latest monthly report.

Compared with May 2023, MPFs’ net assets rose by €333m (1.8%).

At the end of June, MPFs had 2,203,918 members, or 4,940 (0.22%) more than in May.

Total net contributions paid to MPFs in June amounted to €103.5m, while total payments from all MPFs due to personal account closures reached €30.9m, increasing by €1.7m compared to May.

At the end of June, bond investments of MPFs totalled €11.8bn (62.3% of total assets), a share decrease of 0.2 percentage points on a monthly basis. The share of equity investments increased by 0.4 pp to 21.8% of MPFs’ assets (€4.1bn). Investments in investment funds amounted to €2.1bn (11.4% of the assets).

At the end of June 2023, eight open-ended voluntary pension funds operated in Croatia with 382,965 members as well as 21 closed-ended voluntary pension funds with 47,818 members.

Total monthly payments made to voluntary pension funds (VPFs) in June amounted to €8.5m, rising by €0.4m compared to May. Total payments made from VPFs reached €3.4m, decreasing by €0.4m from May.

In June, VPFs’ net assets rose by €23.2m (2.1% on a monthly basis) to €1.13bn. Since the beginning of the year, VPFs’ net assets grew by €193.4m or 14%.

As regards the investment structure of VPFs, the largest part of the portfolio was made up of bonds and amounted to a 55.5% share in total net assets, followed by stocks with a 25.8% share and investment funds with an 11.9% share.

In June 2023, there were 106 UCITS (Undertakings for Collective Investment in Transferable Securities) operating on the market and their total net assets amounted to €2bn, increasing by €28.4m or 1.4% compared to May.  Since the beginning of the year, UCITS’ net assets decreased by €137.6m (6.4%).

Net assets of the Fund for Croatian Homeland War Veterans and Members of their Families amounted to €140.4m (a 1.3% monthly increase), with the monthly return of the fund reaching 1.4%.