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Assets of Croatian mandatory pension funds come to 10 billion kuna

ZAGREB, Aug 22 (Hina) - The assets of mandatory pension funds inCroatia currently amount to 10 billion kuna with the average annualgrowth rate of eight percent over the past three years, the head ofthe agency for the supervision of pension funds (Hagena) told a newsconference in Zagreb on Monday.
ZAGREB, Aug 22 (Hina) - The assets of mandatory pension funds in Croatia currently amount to 10 billion kuna with the average annual growth rate of eight percent over the past three years, the head of the agency for the supervision of pension funds (Hagena) told a news conference in Zagreb on Monday.

Dragan Kovacevic said that the yield of Mirex index over the last year came to 8.63 percent.

Mandatory pension funds currently have over 1.2 million insurees.

Kovacevic described the Croatian financial sector as stable, adding that pension funds were an important factor in that sector, particularly on the money market.

The funds invest 90 percent of their assets in Croatia, with government bonds accounting for 72 percent of the investments.

The remaining 10 percent of their assets are invested on foreign markets.

Kovacevic said Hagena would hold a conference on pension funds and money markets in mid-October.

(1EUR = 7.35 kuna)

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