RU
Dec 16, 2016
The two funds of FUTURE Financial Group, NPF Uralsib and NPF Our Future, have completed their merger with NPF FUTURE

On December 13, 2016, the reorganization in the form of merging the two of FUTURE Financial Group’s funds – NPF Uralsib and NPF Our Future – with NPF FUTURE was successfully completed. The reorganization procedure began in Q3, 2016 and ended within the prescribed time limits. Since December 14, 2016, all of the clients of NPF Uralsib and NPF Our Future enrolled in mandatory and pension insurance have become clients of NPF FUTURE.

Thus, the total number of NPF FUTURE’s clients amounts to over 4 mln people; as per the results of Q1-3 of 2016, NPF FUTURE is the 2nd largest fund by the number of the insured people. The total amount of assets managed by NPF FUTURE is RUB 259 bln.

The merger of NPF Uralsib and NPF Our Future with a larger market player is in the general tendency of the market and a logical step in the optimization of the business processes within the pension group. Consolidation improves the quality of management and enables the synergy of the teams' resources.

NPF FUTURE is the legal successor of NPF Uralsib and NPF Our Future in mandatory pension insurance and non-state pension insurance; as such, the agreements with the clients are valid and it's not necessary to sign them again. The procedure of the pension grant and payment will not be changed; all of the obligations of NPF Uralsib and NPF Our Future to insured persons, depositors and participants are to be carried out by NPF FUTURE.