vebu have expanded the investment declarationthe Future pensions “ taciturn persons “ left the means under control of Foreign trade and investment bank (veb), will faster increase. The government has allowed vebu to invest more than 100 mlrd rbl. of pension means in corporate bonds and bank deposits. Thus, veb will raise management efficiency pension money and will support the Russian market of a public debt.
in the end of last week the Ministry of Finance has published on an official site the governmental order project “ About perfection of an order of investment of means for financing of a memory part of labour pension in the Russian Federation “. The document expands structure and structure of the actives resolved for investment of pension accumulation of citizens through the state management company which functions carries out veb. After the introduction of the governmental decree into force pension money can be invested in corporate bonds and to place on bank deposits.
now volume of means “ taciturn persons “ being under control of veba, makes nearby 350 mlrd rbl. Almost all these means are enclosed in the bond of a federal loan. On June, 30th veb has received from a pension fund 110 more mlrd rbl. of pension accumulation of citizens for 2007 (see “ “ from July, 2nd).
As has explained “ “ the director of department of trust management veba Alexander Popov, the money received from a pension fund in the end of June will be invested by new rules. Thus possibilities veba on use of new tools of investment of pension means will differ depending on a category of an investment portfolio. veb can operate two portfolios: conservative and expanded. Management of a conservative portfolio provides placing to 80 % of pension means on bank deposits, is told in the governmental decree project. Investments into corporate bonds are resolved only at management of the expanded portfolio (to 40 % of a portfolio). Such bonds should have the rating of long-term credit status conceding to a sovereign rating no more than on two steps. In most vebe are more interested in investments into corporate bonds. “ deposits are not the attractive tool for long-term investment of means “ - Alexander Popov speaks.
according to the experts, expansion of investment possibilities will allow vebu to report about more efficient control pension means, than before. “ Investments into a bond market can bring vebu profitableness more than at investment in federal loan bond, at least on 1 - 2 %, - the head of department of the analysis of debt markets FK " believes; Opening “ Vladimir Malinovsky. - at investment for the term up to three years profitableness can make 13 - 13,5 % annual “. Following the results of first quarter veb has shown profitableness of investment of pension accumulation a minus of 7 % annual while at other management companies it has averaged 30 %.
the Exit on the market of a public corporate debt of so large player as veb, will strengthen the tendency which has outlined recently of its revival. For July index IFX - Cbonds has grown on 1,86 %. “ Investment more than 100 mlrd rbl. will positively be reflected in level of quotations and will promote the further decrease in profitableness “ - mister Malinovsky believes. However, this influence will be selective. “ veb can buy bonds of such large Russian emitters, as the Russian Railway, “ Gazprom “ bonds of Moscow, - mister Malinovsky believes. - the credit risk on these papers does not extend now “.
, ALEXANDER - MAZUNIN