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Funcef, the pension fund of federal employees of Caixa Econômica, announced Friday (4) to have cleared a surplus of 1.66 billion rubles in 2018 until November, its first positive result being close since. 2010.
Funcef, Brazil's third pension fund, is one of the hardest hit by failures of investments and management failures. He accumulated successive deficits until the close of 2016 with a turnover of $ 12.5 billion R $. Most of the loss was recorded by the oldest fund, Reg / Replan, a defined benefit benefit, which accounts for about 80% of total badets.
The losses were caused by investments in badets such as the manufacturer of exploration platforms. Sete Brasil, currently in receivership, of the Belo Monte hydroelectric power station and the Eldorado pulp producer.
To balance the accounts, management has increased the volume of contributions of its members and reduced the actuarial objective, which facilitates the achievement of the required minimum profitability.
The consolidated result for 2018 should include adjusting the market value of the fund in Vale, the largest investment in Funcef shares.
A few months ago, Funcef director Paulo Werneck declared that the fund was planning to sell its stake in Vale.
"The ghosts of new equations
According to him, with the rebalancing of the plans, it will be possible to reduce the delays of the equations.
