| The assets of Bulgaria's voluntary pension funds continue to decline by the end of June, falling 8% in H1 to 622.82 mln levs, shows data released by the nation's financial regulator. Despite the negative outcome, the voluntary schemes added over 12,000 new accounts in H1 and now manage the pension plans of 600,000 Bulgarians. Allianz Bulgaria is the breakout leader on the segment with a 44% share, followed by Doverie with 27%. In terms of asset value, Allianz Bulgaria has a market share in excess of 50%. Equities account for close to 35% of the investments made by voluntary funds while government securities issued by EU members make up another 19%. The average balance on voluntary pension accounts is down 10% to 1,030 levs. The total assets of the nation's pension funds rose 3% to 2.4 bln levs in H1. The upside was mainly due to the universal pension funds which posted an assets decline only in January. The assets of the occupational funds are down close to 3% so far in 2008. Source: Dnevnik (05.08.2008) |