BRD Fond de Pensii will launch a voluntary pension fund (pillar III) by September, with another one in the pipeline for the end of the year, Damien Marechal, general manager of the company told ZF. "We will launch the first voluntary pension fund by September and the second several weeks or months after that. We are now working on the funds' prospectuses," Marechal says. Other companies that announced they would launch voluntary pension funds include Asirom Concordia, Generali Fond de Pensii, AIG and AG2R. At first, BRD planned to manage voluntary pensions through BRD Asigurari de Viata, a company that will become operational towards the end of the year, but plans later changed. BRD Asigurari will focus only on life insurance products, while initial investments in the company stand at 7.5 million euros. There are five companies operational on the voluntary pension market: Aviva Asigurari de Viata, BCR Asigurari de Viata, Allianz-Tiriac Pensii Private, ING Asigurari de Viata, ING Asigurari de Viata, OTP Garancia Asigurari and Raiffeisen Asset Management, but the latter has not launched a fund yet.
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