Mandatory pension fund assets down HRK 3.1 billion month-on-month


ZAGREB, March 18 (2022) – The net asset value of Croatian mandatory pension funds (OMFs) at the end of February stood at HRK 129.99 billion, down HRK 3.1 billion or 2.35% from to January, reflecting negative financial trends amid escalating geopolitical tensions, watchdog agency HANFA said on Friday.

“Heightened macroeconomic uncertainty during the first half of February led to an increase in global risk premia, which negatively reflected on financial market valuations, both foreign and domestic. The escalation of geopolitical tensions in the second half of February created an additional external pressure shock to the price of stocks and bonds in international markets. February and amounted to HRK 129.99 billion at the end of the month,” said the Croatian Financial Services Supervisory Agency – HANFA February report said so.

Negative trends in financial markets caused by the war in Ukraine also affected the monthly returns of Mirex which had a negative prefix in February for all categories.

Mirex’s annual return is still positive, HANFA said.

Four mandatory pension funds had 2,119,135 members in February, 3,585 or 0.17% more than in January.

In February, 4,517 new members were registered with MFOs, of which 96.5% were automatically allocated by the central register of Regos insured persons, while 932 members were deleted from the funds due to retirement or death, HANFA said.

At the end of February, bonds remained the dominant form of MFO investment, amounting to HRK 83.6 billion, or a 64.3% share, up 2.3 percentage points month on month. other.

At the same time, equity investments decreased by 1.1 percentage points and amounted to HRK 26.5 billion, representing a 20.4% share in OMF’s assets.

Among other forms of investment, the largest was investment in investment funds, amounting to HRK 15.4 billion, a share of 11.85 percent, HANFA reported.

Net assets of voluntary funds, UCITS also decrease

At the end of February, there were also 8 voluntary pension funds with variable capital (ODMF) with 355,599 members and 20 voluntary pension funds with fixed capital (ZDMF) with 46,024 members.

Total monthly payments to Voluntary Pension Funds (DMF) amounted to HRK 64.7 million, 17% less than Mum. At the same time, the total monthly payments made by the voluntary pension funds amounted to HRK 32.5 million, 3.7% less than Mom.

Due to negative market valuations, DMF’s net assets in February decreased by HRK 209.8 million or 2.68 percent and amounted to HRK 7.62 billion, HANFA said.

Bonds accounted for the largest portion of DMF’s investment portfolio, with a share of 54.4% of total net assets, followed by equity investments, at 24.8%, and investment funds at 12%. .

In February, a total of 95 UCITS (Open-End Investment Funds with Public Offering) were operating in Croatia, with total net assets of HRK 18.97 billion, down HRK 2.1 billion or 10.1 % month over month.

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