O1 Group acquires StalFond private pension fund

December 25, 2013. - O1 Group, a private holding company that invests in a variety of companies and sectors including real estate, industry and finance, announces that it has closed a transaction on acquiring the StalFond private pension fund from companies owned by Aleksey Mordashov.

The fund was established in 1996, in 1997 it obtained its state registration certificate and license to perform as a private pension fund. Since 2004 the fund has been working in the system of compulsory pension insurance. Stalfond is rated amongst the TOP-10 of largest Russian private pension funds by the total amount of individuals insured under compulsory pension insurance (CPI) and amongst TOP-15 by total amount of pension savings under management[1]. As of October 1, 2013 the total number of CPI agreements reached 1,404,932 amount of pension savings reached RUR 32,819 mln.

Boris Mints, Chairman of the Board of Directors, O1 Group: “The acquisition of StalFond is a significant step forward in creating asset management business within the framework of O1 Group. StalFond has a very professional team and wide financial resources. We believe that it is possible to establish on its’ basis one of the largest funds in Russia with a transparent shareholder and management structure focused on a long-term effective asset management. We plan to follow the conservative investment strategy in order to protect pension savings transferred to StalFond and achieve reasonable yield.”
Aleksey Mordashov, CEO, Severgroup CJSC: “We looked for a reliable and concerned investor. I want to emphasize that the most important thing for us is the safety of pension assets of Severstal OJSC employees many of whom are clients of the fund. The assets of our depositors are securely protected by the Russian legislation. The fund has to develop as a stable financial structure focused on providing high-quality services to its clients.”
Andrei Nikitchenko, President, StalFond Private Pension Fund: “We consider the appearance of a new strategic investor, namely, O1 Group, as an important stage of further development of the fund. Our aim is to update the provided services, increase the activity, and improve the fund’s financial stability. It is especially important in the framework of growing competition among funds and the current reform in the sphere of private pension insurance.”


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