In 2013, the asset volume of Estonian second-pillar or mandatory pension funds grew by 291 million euros or by 20%, reaching 1.771 billion euros by the end of 2013, LETA/Postimees Online reports.
In comparison, the volume of voluntary pension funds grew by 9 million euros – from 96 million euros to 105 million euros, Estonian Financial Supervision Authority report indicates.
The total number of unit holders in mandatory pension funds rose by 2,710. The number of unit holders in mandatory pension funds stood at 708,812 as at the end of 2013.
Money in mandatory pension funds continued to migrate from larger management companies to LHV Asset Management in 2013. The market share of Swedbank Investment Funds fell from 42% to 41%, the market share of SEB Asset Management from 23% to 22% and the market share of Danske Capital from 11% to 10%. At the same time, the market share of LHV Asset Management grew from 17% to 19%.