July 3 (SeeNews) - The assets held by voluntary pension funds (VPFs) in Serbia increased to 41.6 billion dinars ($398.4 million/353.3 million euro) at the end of March from 40.2 billion dinars at the end of December, official data shows.
The largest part of VPF assets was invested in government securities - 78.5%, according to figures posted on the website of Serbia's central bank, NBS.
A much smaller portion of assets, 8.1%, was invested in company shares, while balances in custody accounts and bank time deposits made up 6.7%, the central bank said.
The FONDex index, an indicator of the movements in the VPF system, rose by 2.1% on the quarter and came in at 2,923.76 at the end of March.
The funds had a total of 195,676 members in the accumulation phase, equal to 9.4% of the total number of employees in Serbia. The average age of the voluntary pension funds' clients was 46 years.
(1 euro = 117.765 dinars)