06 September 2003 11:51
FINANCE MINISTRY NAMES 55 PENSION FUND MANAGEMENT COMPANIES
The Russian Finance Ministry has officially issued a list of 55 management companies that have won the right to
invest citizens' accrued pension monies; 59 had bid for the right.
Bids were taken from August 8 to 29, the results totted up September 1 to 4. The Finance Ministry had earlier planned
to officially announced the results on September 8.
(Moscow), OAO UK Sistema-Investments (Moscow), OOO UK Portfolio
Investments (Moscow), ZAO UK Zolotoye Cecheniye (Moscow), OOO UK
Investment rights go to: ZAO Pioglobal Asset Management (Moscow), ZAO UKPIF Montes-Auri (Moscow), ZAO RTK-INVEST
(Moscow), OOO UK Invest- Center (Moscow), OAO UK Pifagor (Moscow), ZAO UK AVK Dvortsovaya Ploschad (Vsevolozhsk,
Leningrad region), ZAO UK Troika Dialog (Moscow), ZAO St. Petersburg Central Management Company, ZAO Lider (Korolyov,
Moscow region), ZAO Management Company , ZAO Management Company Yermak (Perm), OOO UK PSB (St. Petersburg), OAO Yamal
(Moscow), OOO RB Asset Management (Moscow), ZAO Solid Management (Moscow), OOO INTERFINANS (Moscow), ZAO United
Financial Group INVEST (Moscow), ZAO Pallada Asset Management (Moscow), ZAO UK TRINFIKO (Moscow), OOO Investment
Management Company National (Moscow), ZAO National Management Company (Moscow), OOO UK RN-Trust (Moscow), ZAO Region
Asset Management (Moscow), OOO Industrial Traditions (Moscow), ZAO UK Brokerkreditservis (Novosibirsk), OOO UK Finam
Management (Moscow), OOO UK NPF (Magnitogorsk), OOO UK AGANA (Moscow), OOO UK Management, Investment, Development (St.
Petersburg), OOO UK RUSENERGO (Moscow), ZAO Metallinvesttrast (Moscow, OAO UK Alemar (Novosibirsk), OOO UK Monomakh
(Moscow), OOO UK VIKA (Moscow), OOO UK Aton-Management (Moscow), OOO UK Regiongazfinans (Moscow region), OOO UK Kapital
(Moscow), ZAO UK Analitichesky Tsenter
Petrovsky Fondovy Dom (St. Petersburg), OOO UK Bazis-Invest (Moscow), OOO UK Alfa-Kapital (Moscow), OOO UK SIS
(Yakutsk), OOO UK Park Avenue Capital (Moscow), OOO UK Accord Asset Management (Moscow), OOO UK NVK (Moscow), OOO UK
Doveriye Kapital (Moscow) ZAO UK Interfin Kapital (Moscow), OAO Creative Investment Technologies (St. Petersburg), OOO
UK METROPOL (Moscow), OOO FUK Professional (Moscow), OOO UK NPF Rostov Trust Company (Rostov-on-Don), ZAO UK NIKoil
(Moscow) and OAO UK NIKoil- Sberezheniya (Moscow).
The Finance Ministry announced that failure to comply with competition requirements disallowed OOO ARK Pobeda (Perm),
ZAO Bank of Moscow Management Company (Moscow), OOO Doicher Investment Trust (Moscow) and OOO Elbi-Trust (St.
Petersburg).
As reported earlier, Russian citizens from whose wages are transferred funds to the accumulative pension scheme will
starting January 1, 2004, get the right to transfer these funds from the Pension Fund to NGO management companies for
investing.
Citizens have to choose a company from the list determined by the Finance Ministry, and before October 15 notify the
Pension Fund of their choice. The Fund is now sending citizens a list of corresponding banks for the choice of
management company and information concerning the state of their accounts, in which are accumulating pension monies. The
notification period should wrap up before October begins.
The accrued money of future pensioners that do not notify the Pension Fund of intentions to transfer these funds will
be managed by Vnesheconombank (VEB), the Finance Ministry's state foreign debt servicing agent, which the
government has appointed to manage accrued pension funds.
The possibility of pushing the October 15 deadline further back is currently under discussion.
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