Net assets held by Croatian mandatory pension reach €17.6bn

NEWS 23.08.2022 20:14
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Source: Pixabay/ilustracija

Net assets held by Croatia's four mandatory pension funds stood at 132.3 billion kuna (€17.6bn) at the end of July 2022, or 2.5 percent up from June, state agency Hina said on Tuesday citing publicly available data released by the state financial regulator Hanfa.

In July 2021 their assets totaled 127.6 billion kuna (€17bn), meaning that they increased by 3.7 percent year-on-year.

July saw the end of the dropping value of funds’ assets, which had been going on since April. After a drop by 3.1 billion kuna (€413m) in February, in March there was a partial recovery with a 2.1 billion kuna (€280m) increase. In April they dropped again, by 718 million kuna (€96m), and again in May, by 515 million kuna (€68m), and again in June, by 1.8 billion kuna (€240m).

At the end of July 2022 mandatory pension funds had 2,140,454 members, which is 7,081 members or 0.3 percent up from June 2022. The structure of the mandatory pension funds shows that bonds continued to be the predominant form of investment, accounting for 85.5 billion kuna (€11.4bn) investment and a share of 64.6 percent.

On the other hand, the proportion of investment in stocks remained unchanged at 20.3 percent, accounting for 26.8 billion kuna (€3.6bn). Investments in investment funds amounted to 14.3 billion kuna (€1.9bn), accounting for 10.8 percent of assets controlled by these funds.

At the end of July, eight open-end voluntary pension funds and 20 closed-end voluntary pension funds also operated in Croatia. The open-end funds had 364,783 members and the closed-end ones had 46,699 members. Total monthly payments into the voluntary pension funds amounted to 53.6 million kuna (€7.1m), a decrease of 3.8 percent from June.

The net assets of the voluntary pension funds in July totaled 7.7 billion kuna (€1bn), increasing by 176.5 million or 2.3 percent from June. The bulk of their investment was in bonds (56.6 percent of the total net assets), followed by shares (25.0 percent) and investment funds (10.5 percent).

(€1 = 7.51 kuna)

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