CZECH REPUBLIC - The Czech Finance Ministry has approved the merger of pension funds Penzijni fond Ceske pojistovny (PFCP) and CP penzijni fond (CPPF), both of which are wholly- owned by insurance company, Ceska pojistovna, according to the Czech News Agency (CTK)
The successor PFCP will be the second largest pension fund in the Czech Republic, with 450,000 clients and assets exceeding Kc10bn, reported CTK.
The move is expected to have a favourable impact on the fund's yields.
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