As of the end of November 2021, the NAV of Croatian Mandatory Pension funds amounted to HRK 130.9bn, representing a 10.7% increase YoY.
Today we bring you an overview of the performance of Croatian pension funds in November 2021, something that is worth considering when looking at the role they play in the Croatian capital market.
The NAV of Croatian pension funds has experienced a continual increase for the 20th consecutive month, and as of the end of November 2021 stood at HRK 130.9bn (+10.7% YoY or 12.7bn). Likewise, on a YTD basis, NAV is up by 10%, while on a MoM basis, NAV of mandatory pension funds is up by 0.3%. We would also like to note that the net contributions in November amounted to HRK 634.7m, reaching a total of HRK 6.78bn YTD.
AUM Structure – Mandatory Pension Funds (January 2018 – November 2021), HRK bn
Looking over at the asset composition of the pension funds, bonds still account for the vast majority of assets (62.8%), which as of the end of November amounted to 82.5bn. Compared on a MoM basis, bond holdings experienced a slight increase of 0.3 p.p., (or HRK 341.7m).
Current AUM Structure – Mandatory Pension Funds, November 2021 (%)
Next up, we have shares, which account for 20.3% or HRK 26.7bn, representing a -1.2% decrease MoM (or HRK 322.8m). The decrease came from foreign as well as domestic equity, which decreased by -1.3% (or HRK -154.3m) and -1.1% (or HRK -168.4m), respectively. We would also like to note that domestic equity accounts for 56.1% of total equity holdings. On the other hand, in the bond market, domestic bonds hold the largest share of 94.5% (a decrease of 0.1 p.p. MoM).
