O1 Group acquires 100% share in Obrazovanie non-state pension fund
The change of the sole shareholder of Private Pension Fund “Obrazovanie” will not affect the terms and conditions of current pension plans. All terms and conditions, including those of calculation and accrual of the investment income and collection of pensions and redemption amounts will continue in full force and effect.
According to Dmitry Mints, a member of the Management Board of O1 Group, “O1 Groups treats pension funds management as one of the strategic lines of its business development. The Group continues to build up its asset portfolio, improve its service quality, and strengthen its leading positions on the Russian market. Following the major purchase transaction of Private Pension Fund “URALSIB” closed in March 2016, today’s transaction with Private Pension Fund ‘’Obrazovanie” is another stage in the implementation of our business strategy. Our group has acquired as many as four insurance funds to date and we have the necessary experience to ensure management of such a large business representing a material component of the national pension industry and guarantee its successful development considering the customer base scales and complying with the strict standards adopted by the market today”.
“During the past 15 years of its existence and operation, JSC Private Pension Fund “Obrazovanie” has gained a reputation as a reliable partner in the implementation of pension plans for corporations, budget institutions, and individuals. “’Obrazovanie’ is a leading regional private pension fund”, said Andrey Stankevich, VP for Corporate Relations of Investment
Company “AVS Group”. “However, today we have elected to focus on other areas and, as such, to transfer control of the Fund to our major participant that specializes in pension fund management, i.e. to O1 Group. We are confident that this deal will bring additional benefits and added value to the customers of JSC Private Pension Fund “Obrazovanie”.
FUTURE Non-state Pension Fund, a non-government pension fund mainly providing compulsory pension insurance services and a part of FUTURE Financial Group, has announced financial results for nine months of 2017 (the period ending 30 September 2017), prepared in accordance with industry accounting standards.
Public Joint-Stock Company Future Financial Group (MOEX: FTRE) (hereinafter - the Company or the Group), the public company unifying several of the largest non-state pension funds in Russia, announces the unaudited financial results of the Group for H1 2017, which ended on June 30, 2017
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