CEE - Aegon plans to target small pension funds for acquisition in Central and Eastern Europe (CEE) in its bid to win a 10% market share of the region's mandatory schemes by 2010.
However, in countries in the region such as Romania, where it has a 3.1% market share, Zatykó said there were plenty of opportunities to buy smaller pension funds.
He said: "In Hungary, it's an established market already - the top five players have more than 87% of the [mandatory] market. So there we are already a significant player.
"In Romania, we are looking at those smaller pension funds that didn't make the official threshold of around 50,000 members - they are going to be on sale so we are going there and collecting them.
Zatykó added that those with less than 100,000 members were likely to be on the market within the next three to four years, because of economic pressures.
He said: "That is our experience in Hungary - it started out with a significant number of pension funds but within three to four years the smaller ones started to consolidate."
Aegon currently has a presence in Hungary, Slovakia, the Czech Republic, Poland, Romania and Turkey, and is looking at the Ukraine and Russia.
Reflecting on the growth that was likely to occur in the CEE, Alex Wynaendts, executive board member Aegon N.V., said in the Netherlands pension fund assets were greater than GDP, compared to the CEE where they were between 0-10%, depending on the stage of reform in individual countries.
He said: "If you plot that same picture in five or ten years' time, you will see pension fund assets in this part of the world are going to be 30-40% [of GDP].
"In another ten years time, they will be at the level we are at in Holland."
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