AEGON Poland takes over NORDEA pension fund's management

AEGON Poland has received the Polish Financial Supervision Authority's approval to take over the management of the NORDEA open pension fund (OFE) between September 1 and November 17, 2017.

Following the merger between the open pension funds (OFE) managed by AEGON and NORDEA, members of the resulting pension fund will benefit from a reduction in the asset management fees due to the higher total value of the assets under management.

By end of June 2017, AEGON OFE had 889,000 members and managed net assets of PLN 6.99 billion (approx. EUR 1.6 billion), while NORDEA OFE had 979,000 members and net assets of PLN 8.14 billion (approx. EUR 1.9 billion).

"Taking into account the current number of members of both funds, the fund that will be created from the merger will be the fourth largest open pension fund on the Polish OFE market, both in terms of the number of members and the value of assets", AEGON announced in a press release.

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