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Voluntary pension fund assets rise to HUF 1,214 bln

Assets of members of Hungaryʼs National Association of Voluntary Funds (ÖPOSZ) reached HUF 1,214 billion at the end of June, up 11% annually, the organization said on Tuesday, as reported by state news agency MTI.

Member contributions neared HUF 35 bln during the first half, up 21% compared to the year before.

Six funds had assets of over HUF 100 bln and these six players accounted for 77.7% of all assets at the end of June.

The funds had a combined 1,055,892 members at the end of the period, somewhat down from the 1,060,740 members at the end of Q2 2016.

On average, a member had HUF 1.149 million of assets at the end of the first half of the year, up from HUF 1.032 mln at the same juncture last year.

Health and self-help funds meanwhile had 832,218 members, down from 849,308. Their total assets reached HUF 49.03 bln, up from HUF 48.16 bln.