Feb 1, 2017
NPF Socialnoe Razvitie to form a part of FUTURE Financial Group

O1 Group purchased 100% of NPF Socialnoe Razvitie JSC

Moscow, February 1, 2017 – O1 Group and Fletcher Group Holdings Limited announce the completion of the transaction for the purchase of 100% in NPF Socialnoe Razvitie JSC by the investment holding O1 Group. The transaction was approved by the Federal Anti-Monopoly Service and the Bank of Russia. NPF Socialnoe Razvitie JSC will be transferred to FUTURE Financial Group and will become the fourth fund of the Financial Group. Later on, the fund will join the largest fund of the group - NPF FUTURE JSC, which occupies the second place by the number of insured people and the volume of pension savings in management[1].

NPF Socialnoe Razvitie JSC is engaged in mandatory pension insurance and non-state pension insurance, including corporate pension programs for employees of the companies of the NLMK Group. The pension savings managed by the fund amounted to RUB 7.6 bln and the pension reserves amounted to RUB 3 bln. The change of NPF Socialnoe Razvitie JSC's shareholder will not affect customer service. All conditions of pension contracts, including the calculation and accrual of investment income, and the granting and payment of pensions, remain in force.

On the results of the transaction, pension savings managed by funds forming part of FUTURE Financial Group will amount to RUB 268 bln, and the number of insured people will exceed 4.1 mln.

As of today, together with NPF Socialnoe Razvitie JSC, the Financial Group includes four NPF: NPF FUTURE JSC (formerly known as NPF BLAGOSOSTOYANIE OPS; in 2016, the fund was joined by NPF StalFond JSC, NPF Uralsib JSC and NPF Nashe Budushchee JSC), NPF Telecom-Soyuz JSC and NPF Obrazovaniye JSC. The share of FUTURE Financial Group on the pension market exceeds 13% by the number of insured people and more than 12% by pension savings.

Marina Rudneva, CEO of FG FUTURE: "The introduction of NPF Socialnoe Razvitie JSC into the perimeter of FUTURE Financial Group represents part of our strategy for the expansion of our market presence. The fact that the fund has joined the flagship fund of NPF FUTURE JSC will allow the clients of NPF Socialnoe Razvitie JSC to benefit from not only its competence and expertise and high level of service, but also to use new products of accumulative pension insurance."

Galina Gut, Board member of Fletcher Group Holdings Limited: FUTURE Financial Group is a large structure with an open and transparent management system whose funds form part of the DIA System. As part of the financial group, the fund will be able to develop efficiently in compliance with all regulating and legal requirements.