O1 Group Purchases 100% Of Shares Of CJSC Non-State Pension Fund Uralsib

18 March 2016 – The O1 Group and the PJSC ‘BANK URALSIB’ announce the closing of a transaction for the sale of 100% of the shares of CJSC NPF URALSIB to the O1 Group investment holding. Consent to the transaction from the Central Bank of the Russian Federation for the purchase of the fund’s shares by the О1 Group holding was received on March 2, 2016.

The change in shareholder of NPF URALSIB will not impact on the terms of its pension agreements. All conditions, including those related to the calculation and accrual of investment income, pensions and redemption values remain in effect.

NPF URALSIB is continuing to service its clients through branches of the URALSIB Bank as part of the strategic partnership between the O1 Group and the PJCS ‘BANK URALSIB’.
As a result of the transaction the volume of pension savings managed by funds in the O1 Group is in excess of 229 billion roubles (as of 30 September 2015), with 3.5 million insured individuals (as of 30 September 2015). Its pension business is one of the strategic priorities of the O1 Group, which is developing this area according to its principles of professionalism, reliability and long-term presence in the industry. By further enhancing the quality of its services for existing clients, and in order to expand its client base through such improvements, the company will both ensure income from its investments and develop customized solutions for its clients. Today (as of 30 September 2015), the group includes two of the top ten NPFs by the different indicators of CPI and NPI: NPF Future (former name NPF BLAGOSOSTOYANIE OPS, it was merged with NPF Stalfond on March, 10 2016), and NPF Telekom-Soyuz. Measured by the number of insured individuals and the volume of pension savings, the O1 Group represents about 13% of the pension market. All the group’s funds, including those of NPF URALSIB, also form part of a system for guaranteeing the rights of the insured.

The member of the board of directors of the O1 Group, Dmitry Mints, said: “Much has been done over the last year to efficiently and actively develop the pension industry. As a result of consolidation, there are now major players in the industry whose aim is to maintain a long-term presence in the market and to undertake careful management of their clients’ funds. Today the pensions business of the O1 Group is a fully-formed independent field, and the purchase of NPF URALSIB is the next important step towards building a strong, progressive business associated with the management of pension funds as part of the holding. Our management team has considerable experience of working with pension funds and aims to develop balanced conservative investment strategies to ensure the maximum safety for our customers’ savings”. 

Elena Kremenetskaya, the General Director of NPF URALSIB, added, “We are confident that the process of fund integration will proceed without any difficulties and we will make it as convenient as possible for our clients. The completed transaction will allow the fund to move to the next stage of development. We intend jointly to support the growth of the pension business and to promote the provision of decent pensions for our customers.”
  • Providing the conditions for assets growth
  • Developing of competitive and stable business
  • Offering high-quality products and services