As of end July 2021, NAV of Croatian Mandatory Pension funds amounted to HRK 127.56bn.
As Pension funds could be seen as the key player on the Croatian capital market, it is worth seeing how they have performed since the beginning of 2021.
NAV of pension funds has witnessed a steady increase for the 16th consecutive month, and as of end July stood at HRK 127.56bn (+12.7% YoY or HRK 14.4bn). Meanwhile, on a YTD basis, NAV is up by 7.1%, while on a MoM basis, NAV of Mandatory Pension funds is up by 0.9%. We also note that net contributions in July amounted to HRK 634.2m, reaching a total of HRK 4.2bn YTD.
Looking at the asset composition of pension funds, one can notice that bonds account for the vast majority of total assets (64.1%) which as of end July amounted to HRK 82bn. We note that bond holdings observed a MoM increase of 2.5% (or HRK 1.97bn).
AUM Structure – Mandatory Pension Funds (July 2021)
Shares come next, with 20.2% or HRK 25.8bn, representing an increase of 1.8% MoM (or HRK 457.5m). The majority of the mentioned increase came from foreign equity (+3.1% MoM or HRK 347.7m). Meanwhile, domestic equity witnessed a slight increase of 0.8%. Note that domestic equity accounts for 55.6% of total equity holdings. On the other hand, in the bond market, the domestic bonds hold vast majority with 95.1%.
Total Assets of Croatian Mandatory Pension Funds (2018 – July 2021) (HRK bn)
