Penzijní fond Komerční banky will credit a growth of 2.23% to members for 2010

Press release

5/9/2011
8:00 AM

The general meeting of Penzijní fond Komerční banky approved the results of PF KB for 2010 and decided that a growth in value of 2.23% would be credited to the pension fund members. PF KB has therefore delivered on its promise made in early 2010 that it would appreciate members’ investment by more than 2% for 2010.

“According to PF KB’s estimates, the appreciation of 2.23% will be among the best that clients of pension funds in the Czech Republic will receive for 2010,” said Pavel Jirák, Chairman and Executive Director of Penzijní fond Komerční banky. 

The excellent results have been mainly supported by the conservative investment strategy geared towards minimum-risk fixed income investment instruments, and also consistent control of the fund’s costs.

Penzijní fond Komerční banky is now one of the three largest pension funds in the Czech Republic in terms of the number of clients and profit achieved. It is therefore no accident that in late February 2011 it received the Pension Fund of the Year 2011 award from the prestigious World Finance magazine.

As at 31 December 2010, Penzijní fond KB managed assets for more than 501,000 members. The volume of assets under management increased 5.8% y/y to CZK 28.718 billion. As at 31 December 2010, 94% of PF KB’s investment portfolio was made up of very secure bonds, and the remaining 6% were bank deposits.