ZAGREB, February 2, 2019 – Mandatory pension funds in Croatia have been diversifying their investments, which means that they are turning away from investments in state bonds and turning to other investments, including investments on the Slovenian capital market, the Croatian Financial Services Supervisory Agency (HANFA) said in a press release on Friday.
There are four mandatory pension funds in Croatia – AZ OMF, Raiffeisen OMF, PBZ/CO and Erste Plavi – and their assets are valued at 99.7 billion kuna, HANFA CEO Ante Žigman said, adding that the amount would exceed 100 billion kuna after February wages were paid.
Pension funds have earned almost 30 billion kuna since 2002 (30% of the amount) while 68.5 billion kuna refers to contributions paid by employers, Žigman said, adding that pension funds had made payments in the amount of about 5 billion kuna for people who had retired. He added that the share of pension funds in GDP was around 27%.
HANFA official Tomislav Ridžak said that pension funds were increasingly investing in shares in local companies such as Hrvatski Telekom, INA, Podravka, Atlantic Group, Končar and Adris.
Slovenia’s Krka company ranks fourth among the top 10 companies Croatian pension funds invest in. Among those companies is also Slovenia’s Nova Ljubljanska Banka.
More news on the pension funds in Croatia cane be found in the Business section.
