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Individual Pension System 2016 Progress Report

Geographical Distribution of Total Investment of Annual Returns of Portfolio Management Companies
Pension Funds in OECD Countries
62 Based on the Fund Group in 2016 78

Pension Funds’ Real Net Rate of Index Change Ratio of Fund Group 79
Investment Returns and Alternative Investment Vehicles
in Selected OECD Countries
63

Pension Fund Asset Allocation for Selected 2016 Benchmark Returns of Pension Mutual Funds 79
Invesment Categories with a Designation of “Alternative” and
in Selected OECD Countries “Participation” in Their Titles (Interest-Free)

63

Consolidated Data of Mutual Funds as Returns of Fund Groups and Alternative Investment
of December 31, 2016 Instruments in 2016 80

64

Change in Pension Mutual Funds and Individual Pension System Sector Returns, Sector 80
Securities Mutual Funds 64 Benchmark Returns and
Consumer Price Index Changes

Net Asset Value of Pension Mutual Funds Data of State Contribution Funds 81
according to Fund Groups and
Their Growth Rate in 2016 65 Total Net Asset Values of State Contribution Funds
according to Founder 82

Variation of Pension Mutual Funds’ Asset Allocation of State Contribution Funds
Net Asset Values 65 according to Founder 82

Consolidated Asset Allocation of Asset Allocation of State Contribution Funds with a
Pension Mutual Funds 66

Designation of “Alternative” and “Participation”

Asset Allocation of Flexible Funds 66 in Their Titles (Interest-Free) 83

Asset Allocation of Pension Mutual Funds in 2016 Returns of State Contribution Funds in 2016
according to Founder 67 according to Founder 83

Asset Allocation of Pension Mutual Funds 2016 Returns of State Contribution Funds and
with a designation of “Alternative” and Benchmarks 84
“Participation” in Their Titles (Interest-Free)
67

2016 Benchmark Returns of State Contribution Funds

Total Net Asset Values and with a Designation of “Alternative” and “Participation”
Average Returns of Fund Groups
68 in Their Titles (Interest-Free) 84

Change of Net Asset Values of Return Index of State Contribution Funds
Fund Groups by Years according to Fund 85
(Increases and Decreases in Annual)
68

Index Change of State Fund Group and IPS 85

Net Asset Values of Pension Mutual Funds 69 Ratio of State Contribution Fund Group Return to 86
according to Founder and Other IPS Fund Group Returns
Their Growth Rate in 2016

Returns according to Fund Groups and 69 State Contribution Funds’ Performance Analysis
Their Benchmarks in 2016 according to Benchmark 86

Net Asset Values of Pension Mutual Funds Top 20 Funds according to Sharpe Ratios 87
according to Founders and Fund Groups
70

Funds with Positive Alpha Coefficient 88

Net Asset Values of Pension Mutual Funds Maximum Daily and Annual Management Fee Ratios
according to Founder 70

according to Fund Groups 90

Pension Mutual Funds’ Performance Analysis Monthly Development of Average Daily Fund
according to Benchmark 71 Management Fee Ratios according to Fund Groups 90

2016 Returns of Funds and Their Benchmarks 73 Markets’ Indexes Used for Fund Groups 91
74
Data of Flexible Pension Mutual Funds

Abbreviations 91

Returns of Pension Mutual Funds in 2016 76 Disclaimer for the Analysis of Pension Mutual Funds
according to Fund Groups and Founder

and State Contribution Funds 91

Annual Nominal and Real Returns of 77 Consolidated Targets and Realizations of
Pension Mutual Fund Groups by Years Pension Companies for 2016

94

The Company, Fund Group and Expectations Regarding Number of Participants,
Sectoral 2016 Returns Amount of Contributions and Accumulations of
(Fund Group and Fund Group Benchmark Returns) 77 Participants’ Funds and State Contribution Funds
for the Year 2017 95
Portfolio Management Companies
Based on the Number of Pension Mutual Funds 78 Amendments in the Legal Framework 100
and Net Asset Value

5 Tables and Charts