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Hungary's private pension-funds generate average yield of over 20% in 2009

Hungary's private pension-funds generated an average yield of over 20% in 2009, the business daily Világgazdaság reported on Monday, citing estimates from ING Bank.

Hungary's financial-market regulator PSzÁF calculated that private pension-funds lost 20% in 2008.

ING estimated that private pension-fund portfolios classified in the “growth” category generated a yield of 22.5% in 2009, while those in the “balanced” category generated a yield of 16% and those in the “classic” category generated a yield of 12% during the year.

None of Hungary's 57 private pension-funds sustained losses in 2009, while 50 of them generated double-digit yields last year.

Quaestor's “growth”-category private pension-fund generated the highest estimated yield among Hungary's pension funds in 2009 at 34.18%, followed by OTP Bank's “growth”-category private pension-fund with a yield of 33.51% and ING's “growth”-category private pension-fund with a yield of 31.98%.

The Axa Group's “balanced”-category Premium Private Pension Fund generated the lowest yield among Hungary's pension funds in 2009 at 5.19%.

OTP Pension Funds generated the highest three-category average yield in 2009 at an estimated 31.16%. Axa's pension fund generated the lowest three-category average yield in 2009 at an estimated 7.39%.

Citing PSzZÁF data, the newspaper noted that OTP had the largest number of members in private pension-funds as of September 30, 2009 with 806,600, followed by Aegon with 606,700 and ING with 548,400. (MTI-Econews)