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46% second pillar pension funds invested in Latvia
BC, Riga, 21.01.2014.
Print version
Print versionNearly one-half or 46% of second pillar pension funds – EUR 779.74 million – has been invested in Latvia, according to data from the Association of Commercial Banks of Latvia, informs LETA.
Of this amount, EUR 519 million has been invested in Latvian government bonds, EUR 184.97 million – in time deposits, EUR 75.41 million – in other financial instruments. Last year, second pillar pension funds increased investments in Latvia by EUR 89.64 million.
In 2013, the share of second pillar funds in time deposits reduced due to low interest rates.
16% of second pillar pension funds have been invested in Eastern Europe, 19% – in Europe, 4% – in North America, 1% – in Asia, 4% – in other developing countries. 9% are global investments.
The total amount of second pillar pension funds stood at EUR 1.68 billion at the end of 2013, EUR 220.5 million more than in the respective period in 2012.
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