Jun 16, 2016
O1 GROUP purchased 100% of NPF OBRAZOVANIYE

The O1 Group and AVS Group announce the completion of the transaction for the sale of 100% of shares in NPF Obrazovaniye to the O1 Group investment holding. The Central Bank of the Russian Federation approved the transaction for the purchase of the fund's shares by the holding O1 Group on June 3, 2016.

Changing the shareholder of NPF Obrazovaniye will not affect 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 will amount to RUB 242 bln (as of March 31, 2016), and the number of insured people will amount to 4 mln (as of March 31, 2016). As of today, the Group includes three 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 and NPF Uralsib. The share of the O1 Group on the pension market amounts to some 13% by the number of insured people and more than 12% by the scope of pension savings (as of March 31, 2016).

"For O1, pension funds represent one of our strategic business development directions. The Group continues to boost its assets portfolio, improve the service quality and strengthen its leading positions on the Russian market," Dmitry Mints, Board Member of the O1 Group, notes. "A large transaction for the purchase of NPF Uralsib was closed in March 2016 and today's transaction involving NPF Obrazovaniye represents a new important stage in the implementation of our business strategy. The Group already includes 4 funds and we have enough experience to manage such a big business efficiently for the pension industry and to ensure its successful development in accordance with the client base scale and the high standards that are currently set by the market."

"For the last 15 years of its performance, NPF Obrazovaniye JSC has proven itself to be a reliable partner in the area of pension programs for enterprises, budgetary institutions and individuals. The fund occupies leading positions among regional non-state pension funds," Vice-President for Corporate Relations of the investment company AVS Group Andrey Stankevich said. "At the same time, as now we have decided to focus on other business directions, we found it reasonable to pass on the control of the Fund to a large player with a specialization in the pension industry – the O1 Group investment holding. We are sure that the transaction will affect the clients of NPF Obrazovaniye JSC in the most positive way."