| Pension funds in Bulgaria lost BGN 5.7 million for 2008, preliminary results of Financial Supervision Commission concerning additional pension insurance show. The accumulated net assets in the additional pension insurance dropped by BGN 24.5 million, or 1.05%. by end-Dec. the pension funds were managing assets for BGN 2.3 billion. Insurance companies ended 2008 with total incomes of BGN 71.3 million which is by 15.1% less compared to 2007. Source: Pari (13.02.2009) |
| Bulgarian investments have assummulated roughly BGN 150 million that could be invested in the local capital market, said Strahil Vidinov, executive director of sector company Allianz Bulgaria. Daniela Petkova, executive director of Doverie, said pension funds manage upwards of BGN 3 billion in assets, where approximately BGN 1 billion has already been put oversees. She predicted that the gap between the growth in assets and market growth will widen further, with universal and occupational funds provided with a steady increase in resources thanks to social security contributions. She noted that companies have reached the point where they have nothing to buy on the Bulgarian Stock Exchange (BSE). Pension funds are conservative minority shareholders and cannot purchase big stakes, she explained. Source: Dnevnik (18.11.2009) |