HUNGARY - AEGON has announced it is to merge its AEGON Hungary Pension Fund with UNIQA and Public Service Pension Fund
The deal would increase the total number of members of an AEGON fund in the region by 10% to 1.5m. The company said it aimed to increase the number of pension fund members in Central and Eastern Europe to 2.3m by 2010.
The newly merged fund would operate under the AEGON brand name.
The AEGON Hungary fund has assets under management of €2bn (US$3.15bn).
As Global Pensions reported in February (Globalpensions.com; 21 February) AEGON Hungary bought 100% of the registered capital of UNIQA Asset Management Company and Heller-Saldo 2000 Pension Fund Management Company from UNIQA Insurance Company.
At the time, AEGON said the deal would rank the company second in the Hungarian mandatory and third in the voluntary pension fund market.
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