Private pension is attracting record
The performance of private pension opened in the first half surprised even executives of the area. The uptake in the U.S. reached $ 16.7 billion, growth of 9.6% over the same interval last year.
“It is something that should be celebrated,” said the chairman of the National Federation of Private Pensions and Life (Fenaprevi), Renato Russo. “At the beginning of the year the picture was worrying,” he said in reference to the effects of global crisis in Brazil.
In absolute terms, was the largest in the history of the catchment area for the first half. The rate of expansion, however, is well below the 2006, 2007 and 2008, when it was above 20% – when compared to the same period last year. It should be noted also that much of its $ 16.7 billion comes from the already contracted by sparing plans – that now reaches 12 million.
In Russian, the surprise is explained by the expectation that many savers could stop the deposits because of the crisis. Most products sold in the country does not provide monthly contribution – ie, the flow can be volatile because of the lack of periodicity in contributions.
The balance of Fenaprevi showed, furthermore, the field plans VGBL (Life Benefit for Generator Free), with abstraction of $ 12.8 billion in half (almost 77% of total). Two factors explain the difference: the tax benefits and the fact the VGBL be a life insurance policy. “This enables the insured persons have access to savings,” explained Russo.
Another feature of the first months of 2009, as suggested by the National Association of Investment Banks (Anbid), is the predominance of fixed-income plans, whose income is attached to the base interest rate (Selic).
From January to July 30, the capture of private pension funds was positive in $ 8 billion. Virtually all entered the fixed income funds. In a time when the Selic reached the lowest levels in history, the performance surprised analysts, and even Russian.
“The retail market reacts slowly to movements,” considered. “But I, personally, that the curve will reverse in coming months (ie, more resources will be applied on products at risk, such as shares).”
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