Business News

KAD's Operating Profit Up 13% to EUR 7.7M in H1

Ljubljana, 03 September (STA) - The state-run Pension Management Fund (KAD) posted a EUR 7.7m operating profit in the first half of 2010, which is 13% more than in the same period last year, KAD said in a press release on Friday.

The fund's total assets stood at EUR 1.284bn at the end of June, while financial assets amounted to EUR 1.17bn.

The pension funds managed by KAD finished in the black in the first half, with the exception of Prvi pokojninski sklad (PPS), which had a negative return of 7.24%.

The net value of assets of the pension funds managed by KAD stood at EUR 1.065bn at the end of June, which is 21% more than at the end of June 2009. The number of savers meanwhile increased by 2% to 304,923.

KAD is obliged to transfer EUR 100m to the Pension and Disability Insurance Institute (ZPIZ) this year, which is EUR 51m more than in 2009.

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