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This excerpt taken from the PBR 20-F filed May 22, 2009. Plan
assets (Continued)
Plan assets
include the following securities of related parties:
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.
This excerpt taken from the PBR 6-K filed Mar 30, 2009. Plan assets Plan assets are invested primarily in government securities, investment funds, equity instruments and properties. The table below describes the types of plan assets:
99 Petros provided certain financing for the continued development of the Albacora oil and gas field located in the Campos basin, that is classified as securities of other related parties (see Note 14). The investment portfolio of the Petros Plan and Petros 2 at December 31, 2008 was composed of: 70% of fixed income, with expected profitability of 7.37% p.a.; 24% of variable income, with expected profitability of 6% p.a.; and 6% of 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. 100 16. Employees’ Postretirement Benefits and Other Benefits (Continued) (b) Pension plan - Fundação Petrobras de Seguridade Social - Petros (Continued) Plan assets (Continued) Plan assets include the following securities of related parties:
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. This excerpt taken from the PBR 6-K filed Apr 10, 2007. Plan assets Plan assets are invested primarily in government securities, investment funds, equity instruments and properties. The table below describes the types of plan assets:
Plan assets include the following securities of related parties:
PETROS provided certain financing for the continued development of the Albacora oil and gas field located in the Campos basin, that is classified as securities of other related parties (see Note 14). 63 16. Employees’ Post-retirement Benefits and Other Benefits (Continued) (b) Pension plan - Fundação Petrobras de Seguridade Social – PETROS (Continued) Plan assets (Continued) The Company uses 6.19% as the expected long-term rate of return over inflation on PETROS’ assets. The PETROS’ portfolio of investments as of December 31, 2006 was comprised of 71% securities, 44% of which were held-to-maturity government securities that earn interest at 6% annually plus the IPCA (Consumer Price Index) variation and 27% of which were Investments Funds that earn interest approximate to the CDI (Certificado de Depósito Interbancário, or Interbank Deposit Certificate), which has been yielding more than 6% annually. Thus, the Company considers a 6.19% long term interest rate appropriate to calculate the expected return on assets, as such aligns with the composition of the PETROS’ asset portfolio. PETROS has a significant volume of investments in government securities, mainly NTN-B bonds, which by an agreement with the Supplementary Social Security Department will be held-to-maturity being recorded at fair value, for which a net present adjustment was required. Thus, the percentage of assets allocated in this investment will remain the same over the short term. | EXCERPTS ON THIS PAGE:
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