PBR » Topics » c) Assets of the Pension Plans

This excerpt taken from the PBR 6-K filed Mar 31, 2009.

c) Assets of the Pension Plans

The assets of the pension plans of the Petrobras System are invested mainly in government bonds, investment funds, equity instruments and others.

    Consolidated 
   
    2008    2007 
     
    Pension plan    Pension plan    Pension plan    Pension plan 
    benefit    contrib.    benefit    contrib. 
         
Government bonds    43%        41%     
Investment funds    38%    92%    33%    100% 
Shares    12%    8%    20%     
Other    7%        6%     
         
    100%    100%    100%    100% 

The investment portfolio of the Petros Plan and Petros 2 at December 31, 2008 was composed of 70% fixed income, with expected profitability of 7,37% p.a.; 24% variable income, with expected profitability of 6% p.a.; 6% other investments (transactions with members, real estate and infrastructure projects), with expected profitability of 8% p.a., which resulted in an average interest rate of 7,02% p.a.

The assets of the pension plans managed by Fundação Petrobras de Seguridade Social - Petros include the following papers of related parties:

    2008    2007 
     
 
Petrobras common shares    313.698    718.013 
Petrobras preferred shares    512.312    1.065.999 
Government controlled companies    261.567    228.996 
Government bonds    13.348.545    12.055.229 
Papers of other related parties    240.001    304.214 
     
    14.676.123    14.372.451 
     

The Petros Plan has 43% of its investments in government bonds, of which 94% are represented by NTN-B, which through entailment with the Department of Supplementary Pensions, will be held until maturity.

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