Pioneer sell-out spearheads pension fund consolidation

A decision concerning the future owner of pension fund OFE Pioneer will be made by the end of May Parkiet daily has learned. The alleged sell-out is part of the overall restructuring of the Pioneer group, which is itself seeking an investor. However, shareholders, who have their say in the matter, may opt for a merger with another pension fund. It was also rumored yesterday that the fund had been sold to insurer Allianz, but the company denied the claim. The decision depends largely on the fate of the whole Pioneer Group of Boston. The Pioneer fund has around 150,000 customers and zl. 25.5 million in assets catering to 0.6% of the market. At the moment most of the pension funds are holding talks about the consolidation of the market and Epoka owned by Bank Ochrony Srodowiska (BOS) and OFE Norwich Union are slated to be up for sale. The latter is the result of the recent merger between mother company Norwich Union and Commercial Union in the U.K. (Parkiet, page 1, 7) P.S.