CEE Stock Exchange sees slump in Budapest trading on pensions

clock

EUROPE - The CEE Stock Exchange Group, which includes bourses in Vienna, Budapest, Prague and Ljubljana, said trading volumes may drop this year in the Hungarian capital following the nationalisation of private pension funds.

"No one knows what's going to happen" to the savings "but most probably they are not going to return to the market as liquidity," Michael Buhl, the Vienna bourse's co-chief executive officer, said ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Hungary

Hungary to cancel $7.5bn of bonds after pensions takeover

HUNGARY - Hungary will cancel about 1.5trn forint ($7.5bn) of bonds after taking over the assets of privately managed pension funds to "immediately" cut indebtedness, according to the Debt Management Agency.

Andras Gergely at Bloomberg News
clock 22 February 2011 •

Hungary pension changes were 'negative,' - Moody's

HUNGARY - Hungary's decision to bring the majority of private-pension savings under state control was "credit negative" and a key factor behind downgrading the country's debt rating, Moody's Investor Service said.

Balazs Penz and Agnes Lovasz at Bloomberg News
clock 16 February 2011 •

Hungary private-pension funds keep 102,000 members, cabinet says

HUNGARY - Hungarian private-pension funds retained 102,000 clients, or about 3.2% of their previous membership, by yesterday's deadline in the government's drive to funnel their assets to the state, said Gabriella Selmeczi, the government commissioner...

Andras Gergely at Bloomberg News
clock 01 February 2011 •
Trustpilot