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Serbian Private Pension Funds’ Assets Increase to $147 Million

Dec. 19 (Bloomberg) -- Serbian private pension fund assets reached 11.59 billion dinars ($147.36 million) at the end of the third quarter, increasing 25.9 percent from a year ago, the central bank said.

Total assets for the nine funds on the market gained 636.5 million dinars in the third quarter, 4.7 percent more than in the previous, as the number of clients increased by 173,900, the National Bank of Serbia said in a report.

The growth trend resumed this year after an “insignificant increase” in new contracts in 2010. The state-run, pay-as-you-go pension system remains dominant in the country of 7.12 million people. Private pension funds began operating in Serbia in 2007.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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