Slovenia’s largest manager predicts rise in assets
SLOVENIA - As the country introduced the euro in as from the beginning of the year, the board of the state-run €1.18bn Kapitalska Druzba (Pension Fund Management - KAD), predicts a rise in assets to €1.5bn by the end of 2007.
Also, it foresees a rise in insurers' assets to €741m at the end of next year, the pension fund manager announced in a press release.
KAD, Slovenia's largest mutual pension fund manager, also announced that it will change its investment policy to increase its share in foreign securities, while reducing its stakes in domestic companies.
The move, according to a Slovene press agency, follows the Slovenian government's strategy to withdraw from the economy.
The fund manager also wants to increase its market share in additional pension insurance and has set itself a target having over 282.000 insureds with at total of €125m in premiums by the end of 2007.
KAD so far manages the assets of four mutual pension funds - with more than 260,000 members - and one guarantee fund totalling €447m. Roughly €9m is paid monthly in premiums.