March 15 (SeeNews) - The assets held by voluntary pension funds (VPFs) in Serbia increased to 40.2 billion dinars ($385.5 million/340.5 million euro) at the end of December from 39.1 billion dinars at the end of September, official data shows.
The largest part of VPF assets was invested in government securities - 83.1%, according to figures posted on the website of Serbia's central bank, NBS.
A much smaller portion of assets, 8.4%, was invested in company shares, while balances in custody accounts and bank time deposits made up 7.5%, the central bank said.
The FONDex index, an indicator of the movements in the VPF system, rose by 1.3% on the quarter and came in at 2,862.92 at the end of December.
The funds had a total of 192,295 members in the accumulation phase, equal to 9% of the total number of employees in Serbia. The average age of the voluntary pension funds' clients was 46 years.
(1 euro = 118.078 dinars)