‘Don’t fret,’ pension fund managers tell Dominicans

Santo Domingo.-The Dominican Association of Pension Fund Administrators (Adafp) published a statement on Wednesday in which it explains to public opinion and workers what is related to the reduction in account statements of members of the Pension Fund Administrators (AFP).

Adafp explains that it makes the clarification in view of “the confusions that have arisen in public opinion” due to the fact that the individual capitalization accounts of the affiliates showed a negative balance in February and that this fact “has been wanted to distort” alleging irregularities in the management of these funds.

The entity maintains that, at the end of February, the investments in pesos of the pension funds, managed by the four main AFPs affiliated with Adafp, amounted to RD$563.7 billion (US$10.3), for an increase of RD$10.6 billion with respect to January.

“Investments in dollars totaled 3,257 million dollars, for a decrease of 72.3 million dollars, said fund managers president, Kirsis Jaquez.”