RU
Jul 20, 2016
O1 GROUP purchased 100% of NPF Russian Standard

July 20, 2016

O1 Group announces the completion of the transaction for purchase of 100% of NPF Russian Standard CJSC. The Central Bank of the Russian Federation approved the transaction for the purchase of the fund's shares by the O1 Group holding on June 3, 2016. Changing the shareholder of NPF Russian Standard will not effect the conditions of the pension contracts. All conditions, including the terms of investment income calculation and accrual, the receipt of pensions and living benefits will remain in force. As a result of the transaction, the scope of pension savings managed by the funds that form part of the O1 Group exceeded RUB 247 bln (in accordance with the Central Bank of the Russian Federation [the CBR] as of March 31, 2016), and the number of insured people comprised 4 mln (as of March 31, 2016). As of today, the Group includes four non-state pension funds from the Top 20 by different indicators both by CPI and NPI (as of March 31, 2016): NPF FUTURE (formerly known as NPF BLAGOSOSTOYANIE OPS, consolidated with NPF StalFond on March 10, 2016), NPF Telecom-Soyuz, NPF Uralsib and NPF Obrazovaniye. The share of the O1 Group on the pension market amounts to around 13% by the number of insured people and more than 12% by the scope of pension savings (as of March 31, 2016). All of the Group’s funds, including NPF Russian Standard, make up part of the insured people’s rights guarantee system.

Dmitry Mints, Board Member of the O1 Group, stated: "The O1 Group has a well-considered and professional approach to the management of retirement savings and pays much attention to their strategic business development and investment reliability on the Russian pension market in the long term. Such an approach allows us to reach a high profitability level and ensures the asset security of the retirement funds that form part of the O1 Group at the same time. NPF Russian Standard became the fifth fund of the Group and we have confirmed our leading positions on the Russian financial market once again."