May 21 (SeeNews) - The assets held by voluntary pension funds (VPFs) in Serbia increased to 47.0 billion dinars ($488 million/400 million euro) at the end of December from 45.9 billion dinars at the end of September, official data shows.
The largest part of VPF assets was invested in government securities - 73.1%, according to figures posted on the website of Serbia's central bank, NBS.
A much smaller portion of assets, 12%, was invested in company shares, while balances in custody accounts and bank time deposits made up 10.8%, the central bank said.
The FONDex index, an indicator of the movements in the VPF system, rose by 1% on the year and came in at 3,094.52 at the end of December.
The funds had a total of 204,969 members in the accumulation phase, equal to 9.5% of the total number of employees in Serbia. The average age of the voluntary pension funds' clients was 47 years.
(1 euro = 117.588 dinars)