TO WHAT EXTENT THE DIMENSION OF THE FACULTATIVE PENSIONSFUNDS IS INFLUENCED BY THE PLACEMENTS OF THEIR ASSETS? STATISTICAL STUDY IN ROMANIA

The main objective of this paper is to determine in what extent the dimension of the facultative pension funds in Romania is influenced by their investment allocation. The research methodology consists in testing the net asset of the facultative pensions, as dependent variable, in relation with their investment allocation: bank deposits, government securities, municipal bonds, corporate bonds, supranational bonds, shares, and Undertakings for Collective Investment in Transferable Securities, as independent variables. The results obtained allows the orientation of making placements with the total net assets of the facultative pension funds depending on the influence only of the five variables.