Macedonia's Aug Mandatory Pension Fund Assets Rise 3.9% M/M

KB Prv Otvoren Penziski Fond (KB Prv) ranked first with 3.895 billion denars in net assets at the end of August, followed by NLB Penziski Fond (NLB), formerly known as NPF, with some 3.199 billion denars in net assets, according to figures released by the country's pension insurance supervision agency, MAPAS.

KB Prv also led in terms of the number of client accounts with 119,011 compared to NLB's 105,911.

KB Prv is managed by KB Prvo Drustvo za Upravuvanje so Penziski Fondovi (www.kbprvo.com.mk), co-owned by Slovenia's Skupina Prva DD with a 51% stake and Komercijalna Banka AD Skopje with 49%.

NLB is managed by Nov Penziski Fund. Slovenia’s Nova Ljubjanska Banka (NLB) owns 51% of Nov Penziski Fund and its Macedonian unit, NLB Tutunska Banka AD Skopje, holds a 49% stake.

Macedonia has a population of two million.

(1 euro=62.0826 Macedonian denars)