At the end of January, private pension funds had 9.98% assets in stocks and 63.46% in state securities.

Funds have narrowed their exposure on corporate bonds to 16.43% from 18.19% in January.

“In February 2010, pension funds’ asset allocation mix reflected a caution approach to risk management (state securities and foreign non-governmental bonds)”, CSSPP said in a report.

Non-governmental bonds accounted for 2.53% of pension fund’s allocation mix, municipal bonds – 1.11%, shares to mutual funds (OPCVM) – 0.61%. Bank deposits accounted for 3.58% compared to 5.88% at the end of January.