O1 Group and AVS Group reported the closing of the sale of 100% of shares of JSC NPF “Education” to investment holding O1 Group. O1 Group received consent of the Central Bank of the Russian Federation on the transaction to purchase shares of the Fund on 3rd June 2016.
Changes in the shareholder structure of NPF “Education” will not affect the terms of the pension agreements. All terms, including the terms of calculation and accrual of investment income, receipt of pensions and the redemption amounts will continue to apply.
Following the transaction, the amount of pension savings under management of the fund included in the O1 Group, will amount to 242 billion rubles (31.03.16), and the number of insured persons – 4 million (31.03.16). Today the group consists of three NPFs of the TOP 20 on various indicators in the OPS and NGOs (31.03.16): NPF “FUTURE” (the former name of NPF “BLAGOSOSTOYANIE OPS” combined with “Stalfond” private pension fund March 10th 2016, ), NPF “Telecom-Soyuz” and NPF “URALSIB”. O1 Group share of the pension market is about 13% by number of insured persons and more than 12% by volume of pension savings (31.03.16). The amount of pension savings under management which are part of the FG “Future” will be 268 billion rubles.
“Pension funds for O1 is one of the strategic directions for business development. The group continues to expand its asset portfolio, improve the quality of services and strengthen the leading position on the Russian market, – said Dmitry Mintz, O1 Group board member, – in March 2016 we closed a deal for the purchase of NPF “URALSIB” and today’s transaction with NPF “Education” is a new and important phase in the implementation of our business strategy. The group already includes 4 funds, and we have the experience to effectively manage such a large pension industry business and to ensure its successful development in accordance with the scale of the client base and high standards, which are set the market today.”
“During 15 years of JSC “NPF “Education” activity the fund has proven itself as a reliable partner in the implementation of pension programs for businesses, public institutions and individuals, the Fund is a leader among regional NPFs – said Vice-President of Corporate Relations of the “AVS Group” Investment company Andrey Stankevich. But now we have decided to focus on other activities, therefore we considered it appropriate to hand over control of the Fund’s largest participant, specializing in the pension industry – investment holding O1 Group. We are confident that the deal will have the highest positive impact for JSC “NPF “Education” clients.