November 16 (SeeNews) - Croatia's financial services regulator, Hanfa, said it has granted approval to pension fund management company Erste d.o.o. to set up and run a closed-end voluntary pension fund.
Hanfa also approved the prospectus and the statute of the new fund named Arena Mudra Mirovina (Arena Wise Pension), Hanfa said in a statement, without disclosing further details.
The Adriatic country of some 3.89 million people had 2.160 million members of its 12 mandatory pension funds as of September, 367,700 members of its eight open-end voluntary pension funds, and 46,720 members of its 20 closed-end voluntary pension funds, according to date released by Hanfa last month.
Erste d.o.o. is mandatory and voluntary pension funds management company, part of Austrian Erste Bank group.