Dear participants of OTP Pension and Freeflight pension funds,
We are pleased to present the performance results of OTP Capital non-state pension funds for August 2025.
General economic situation in Ukraine
In August, inflation continued to decline, reaching 14.1% compared to 14.3% in July. The National Bank of Ukraine’s international reserves increased by USD 3 billion to USD 46 billion. The trade balance deficit expanded due to record import volumes. Overall, macroeconomic indicators remained stable and broadly in line with market expectations and NBU forecasts.
Hryvnia investments
Yields on domestic government bonds (OVDP) at primary auctions remained unchanged:
- 16.35% — 1.5 years
- 17.1% — 2 years
- 17.8% — 3 years
Bank deposit rates also remained stable, ranging from 10.5% to 14.5% in UAH. This environment supports the funds’ ability to preserve returns and protect investors’ capital.
Foreign currency investments
Yields on foreign-currency OVDP remained at 4.17–4.25% in USD and 3.25% in EUR. On the secondary market, yields were lower, reaching up to 2.5% in USD and 1% in EUR.
The official exchange rate of the hryvnia strengthened from 41.76 to 41.26 UAH per USD.
Amid external information flows, Ukrainian Eurobonds demonstrated growth ranging from 6% to 12%, depending on maturity.
Performance of non-state pension funds
OTP Pension
Fund portfolio
In August, the fund carried out active rebalancing: UAH 119 million of government bonds (OVDP) were sold and UAH 124 million of new OVDP were purchased, focusing on extending maturities and increasing yield. The deposit portion was allocated as follows:
- UAH 37 million — JSC Ukreximbank
- UAH 23 million — JSC Agroprosperis Bank
- UAH 43 million — JSC Sens Bank
- UAH 10 million — JSC Idea Bank
Financial results
- Total net asset value (NAV) at the end of August: UAH 746.9 million
- Fund assets increased by ↑UAH 16.5 million (2.2%)
- Contributions received: UAH 8.5 million
- Pension payments made: UAH 0.8 million
Returns
- Monthly return: 1.2%
- Return over the last 12 months: 13.7%
Freeflight
Fund portfolio
In August, the fund focused on the deposit portion:
- USD 58,000 — JSC Agroprosperis Bank
- USD 47,000 — JSC Sens Bank
- USD 23,000 — JSC Tascombank
Additionally, UAH-denominated OVDP were reduced by UAH 0.8 million, and USD OVDP worth USD 220,000 were purchased. Eurobond (OZDP) transactions were also conducted.
Financial results
- Total NAV at the end of August: UAH 72.1 million
- Fund assets decreased slightly by ↓UAH 0.4 million (-0.6%)
- Contributions received: over UAH 1.3 million
- Pension payments made: UAH 1.1 million
Returns
- Monthly return: 0.6% in USD
- Return over the last 12 months: 9.7% in USD
Despite macroeconomic fluctuations, the non-state pension funds OTP Pension and Freeflight continue to provide stable returns and asset growth for their participants. A systematic approach to asset management and a balanced strategy allow the funds to maintain financial stability even in challenging market conditions.
