Quarterly Migration of pensioners candidate transfused between EUR 19 million fund

Migration of customers from one fund to another pension continues, with data for the second quarter of the year did not show any particular acceleration and intensity of the process. No player whose lists have been significantly degraded over another is evident from the statistics of the Financial Supervisory Commission, published on Tuesday.
However, whether the loss of a customer is more intolerable to the period before the crisis? Who is the most outgoing, according to fund the actual data and is there one who managed to rob the most significant part of the migrant?
At the end of the second quarter of 2009 the number of insured persons in funds for supplementary pension exceeds 3.6 million people. Most of them, namely, 2.8 million are customers of the universal pension funds.
The number of people changed their universal, voluntary or professional fund during the period from April to late June, is 27 406 people and funds that follow a normal customer and migrate along with them, amounting to 19.1 million
The figures could be higher by only 10.76 percent. Just as they have refused to transfer deter 3 309 people for change.
The most curious statistics is universal in pension funds. Of the 10 participants at the market, most customers from their competition has attracted Universal Pension Fund Trust – a total of 6 746 people. The company is „pulled“ by 3 125 people ZUPF Allianz Bulgaria and 1 231 client of Universal Pension Fund Agreement.
However, Universal Pension Fund and the Trust was „struck“ by the tide, and on his behalf have chosen another fund 8 280 people with lots of 5.3 million so the net change is 1 534 persons, and the funds – 1.8 million leva for the second quarter of 2009.
ZUPF Allianz Bulgaria has also attracted a significant amount of other customer funds – a total of 6 810 people with lots of EUR 3.3 million in the second quarter.
About half of the greatest difference between left and received clients stand out with Universal Pension Fund Trust – 5 576 people and funds amounting to 4.2 million and ING Universal Pension Fund with -1 381 persons and accounts for 556 336 leva
Miroslav Marinov, Doverie
What is your analysis of data on migration between the funds provided in the second quarter, especially after a comparison with the results and the drugiteto companies in this industry?
Data show that we are the company that has attracted most of insured persons, but also has lost the most customers for six months.
In the universal fund for the six months net result is negative. Decrease as the number of persons with 5 576 people and just over 4.2 million leva in terms of resources. For us this is about 0.55% of our customer base, but in terms of assets and money to which govern, the result represents 0.6%. That is an absolute value may seem large, but the size of the fund’s managed assets totaling over 700 million, as a percentage of total insured persons, this difference is quite normal and within expectations. At the same time the proportion of customers leaving their vehicles with us is lower than the market average for the six months.
In occupational funds for the second quarter statistics also shows that the Trust is presented reasonably well. Regardless of the transfer process, the funds we observed an increase in both the absolute number of customers and assets. The trend is clear – the number of persons who normally leave the Trust is almost the same while the number of persons stated and confirmed a desire to become customers increases. Accordingly, this net difference as a number of persons and vehicles decreases.
What’s fueling the migration of insured persons by the Fund into a fund in the second quarter of the year? Are there any more specific reasons beyond the usual?
We are among the companies created the oldest and certainly the highest market share as well as customers and as assets under management, and have our own branch network throughout the country. Serious are the dimensions of equity, which might motivate customers to choose us.
In smaller players transfer is very clearly explained – the heat or Pension Insurance Institute, for example, are companies which are relatively new practice and their customers can not be transferred because they are past 2 years of their initial membership. We are the market players who can only attract members to not give the other funds.
On the other hand might lead customers to the presentation portion of the funds in their investment policy, respectively, the results achieved. Trust funds with positive return since the beginning of the year to June 30 and despite all the volatility in the markets, it only continues to improve.
Milen Markov Pac Consent
What is your comments on the movement of clients between funds in the second quarter of the year?
Overall, the market was not observed any substantial difference. That we are negative, not something which seems to be the trend. Nature of transfers is maintained, this is a normal process.
I think main thing fueling the movement is the fact that there are still many people in officially allocated funds. Some of these people have already oriantirali to a specific fund, other than that in which they were originally received, or have made a new election, because something in the old fund suits them.
Can not achieved profitability is a driving force for migration between the companies?
For the past 2 years are all negative, when we talk about profitability. If insurance firms have pointed this out as their competitive advantage, perhaps it is prorabotilo for them, but looking at the overall picture, I do not think this was one of the leading motives.
Does the crisis worsened in some way the situation with migrant clients?
There was some delay in the receipts of benefits, which however was less than expected. My personal progozi the size of the crisis led to very conservative expectations. So what is seen now, for me to conclude that the crisis can be felt tangibly in the sector.
What is the payback for occupational pension funds?
Iame reflux in occupational funds, but it is not clear at reflux sense since it should take account of regular payments to people who already have to retire and receive pension from the NII. We translate all naptrupata amount from 2001 to present. That is an increase in sredstavata that pension funds paid to the National Insurance Institute. Without absolutely accurate, but I think that over 400 million they paid Social Security pension fund for 2008 and 2009.
The crisis is mainly reflect in voluntary funds. There have decreased, which is understandable. Otherwise, when the mandatory drop occurred in professional fund, but it is not due to the crisis, but is the result of normal growth processes.
* No recommendation for making an investment decision!