{"id":1917867,"date":"2026-05-04T21:08:00","date_gmt":"2026-05-04T18:08:00","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=1917867"},"modified":"2026-05-04T21:08:00","modified_gmt":"2026-05-04T18:08:00","slug":"cum-sa-bati-cu-pumnul-in-masa-daca-votezi-prin-corespondenta-gigantii-adormiti-ai-bursei-fondurile","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=1917867","title":{"rendered":"Cum s\u0103 ba\u0163i cu pumnul \u00een mas\u0103 dac\u0103 votezi prin coresponden\u0163\u0103? Gigan\u0163ii adormi\u0163i ai bursei: fondurile"},"content":{"rendered":"

[analyse_image type=”featured” src=”https:\/\/storage0.dms.mpinteractiv.ro\/media\/1\/1481\/22467\/23144043\/1\/bursa-de-valori-bucuresti-5.jpghttps:\/\/storage0.dms.mpinteractiv.ro\/media\/1\/1481\/22467\/23144043\/1\/bursa-de-valori-bucuresti-5.jpg”]<\/p>\n

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\nCele \u015fapte fonduri de pensii private din Rom\u00e2nia au ajuns la 50 mld. lei \u00een ac\u0163iuni listate la Bursa de Valori Bucure\u015fti – o mas\u0103 de capital care le plaseaz\u0103 printre cei mai importan\u0163i ac\u0163ionari ai marilor companii listate. De\u0163in un sfert din Banca Transilvania, aproape 15% din OMV Petrom, 12,5% din Hidroelectrica, 19% din Romgaz.<\/p>\n

\nPe h\u00e2rtie, au suficient\u0103 greutate pentru a influen\u0163a decizii, politici de dividend sau structuri de conducere. \u00cen practic\u0103 \u00eens\u0103, fondurile de pensii func\u0163ioneaz\u0103 predomi\u00adnant ca investitori pasivi. Cump\u0103r\u0103 ac\u0163iuni din contribu\u0163iile lunare ale salaria\u0163ilor \u015fi le p\u0103streaz\u0103 pe termen lung. Activismul ac\u0163ionarial – prezen\u0163a activ\u0103 \u00een adun\u0103rile generale, votul \u00eempotriva unor decizii ale managementului, solicitarea public\u0103 de reforme de guvernan\u0163\u0103 – este aproape absent. Votul prin coresponden\u0163\u0103, bifat discret, este instrumentul preferat.<\/p>\n

\nSubiectul a revenit \u00een dezbatere dup\u0103 ce premierul Ilie Bolojan a semnalat public pri\u00admele de performan\u0163\u0103 de \u201e150.000-180.000 de euro\u201c acordate conducerii Hidroelectrica. Fondurile de pensii de\u0163in ac\u0163iuni la Hidroelectrica de 7 mld. lei \u2013 sufi\u00adcient pentru a ridica \u00eentreb\u0103ri \u00eentr-o AGA.<\/p>\n

\nCalculele realizate de Ziarul Financiar arat\u0103 c\u0103 sistemul de pensii private obligatoriu, adesea criticat sau ignorat \u00een dezbaterea public\u0103, a devenit unul dintre cei mai importan\u0163i piloni ai pie\u0163ei de capital rom\u00e2ne\u015fti – at\u00e2t ca mas\u0103 de capital, c\u00e2t \u015fi ca stabilizator al bursei \u00een perioade de volatilitate. Saltul de la 14,9 miliarde la 50 de miliarde de lei \u00een cinci ani nu are o singur\u0103 explica\u0163ie, ci trei, care au ac\u0163ionat simultan \u015fi s-au amplificat reciproc, potrivit datelor consultate de ZF de la anali\u015fti.<\/p>\n

<\/a><\/p>\n

\n\u00a0<\/p>\n<\/div>\n

[analyse_source url=”https:\/\/www.zf.ro\/burse-fonduri-mutuale\/bati-pumnul-masa-votezi-corespondenta-gigantii-adormiti-bursei-23144043″]<\/p>\n","protected":false},"excerpt":{"rendered":"

[analyse_image type=”featured” src=”https:\/\/storage0.dms.mpinteractiv.ro\/media\/1\/1481\/22467\/23144043\/1\/bursa-de-valori-bucuresti-5.jpghttps:\/\/storage0.dms.mpinteractiv.ro\/media\/1\/1481\/22467\/23144043\/1\/bursa-de-valori-bucuresti-5.jpg”] Cele \u015fapte fonduri de pensii private din Rom\u00e2nia au ajuns la 50 mld. lei \u00een ac\u0163iuni listate la Bursa de Valori Bucure\u015fti – o mas\u0103 de capital care le plaseaz\u0103 printre cei mai importan\u0163i ac\u0163ionari ai marilor companii listate. De\u0163in un sfert din Banca Transilvania, aproape 15% din OMV Petrom, 12,5% din […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[226,28],"class_list":["post-1917867","post","type-post","status-publish","format-standard","hentry","category-romania","tag-crawlmanager","tag-zf-ro"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/1917867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1917867"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/1917867\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1917867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1917867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1917867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}