PREVI Futuro Plan’s assets represent R$262 million by the end of 2004. Because it is an Assigned Contribution Plan it cannot report deficits or surpluses, since all the profitability attained with assets management goes to associates' private accounts.
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Assets Evolution – PREVI Futuro |
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2002 |
2003 |
2004 |
| R$ million |
82,19 |
157,72 |
262,22 |
PREVI Futuro accounted for 28,342 associates by the end of the year (against 20,590 in Dec. 2003).
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2002 |
2003 |
2004 |
| Number of associates |
15.248 |
20.590 |
28.342 |
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The Plan’s funds have summed up R$261,94 million (R$157,52 million in 2003) and are all allocated on a Fixed Income Fund (BB Maxi), with a 19,41% profitability, ; as well as on the Simplified Loan program, which showed a 17,83% profitability. In all, the reported Plan’s profitability was of 19,38%.
Associate’s effective quota profitability stood at 16,89%, once out of nominal profitability are reduced expenses regarding financial institution's tariffs and costs. Profitability, therefore, has surpassed the year’s Average Selic Rate and CDI.
The Plan’s Investment Policy recommends the investment of almost the total amount of resources in the Fixed Income sector which has been showing market attractiveness with a good risk/return ratio. PREVI is studying a feasible process of investment diversification, to be debated among associates as well.
By the end of 2004, there were 5,742 thousand simplified loans related to PREVI Futuro. There were R$22,57 million allocated on loans to the Plan’s associates.
Research Helps Define Investments' Profile
A poll was conducted to understand the investment profile desired by the associates for the PREVI Futuro resources. 80% of the surveyed associates claimed they would like it if part of their resources were invested in variable income as well, while 68% favored a moderate fund, made up of 80% fixed income assets and 20% variable income assets. These results are to be taken into account in the future studies of Policies and Guidelines of the Investments Plan.
The Plan’s total inflow added up to R$79,88 million (R$50,98 million in 2003). Total inflow includes mandatory and optional contributions, from associates and sponsor. The Plan already pays benefits to 12 disability-cause-retirement associates and 64 pensioners.
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