November 18 (SeeNews) - The assets held by voluntary pension funds (VPFs) in Serbia increased to 48.8 billion dinars ($471 million/415 million euro) at the end of September from 48.2 billion dinars at the end of June, official data shows.
The largest part of VPF assets was invested in government securities - 79.6%, according to figures posted on the website of Serbia's central bank, NBS.
A much smaller portion of assets, 12.9%, was invested in company shares, while balances in custody accounts and bank time deposits made up 7.1%, the central bank said.
The FONDex index, an indicator of the movements in the VPF system, rose by 3.4% on the year and came in at 3,146.93 at the end of June.
The funds had a total of 286,389 members in the accumulation phase, equal to 9.3% of the total number of employees in Serbia. The average age of the voluntary pension funds' clients was 47 years.
(1 euro = 117.585 dinars)