Interest rate risk in NPFs: Bank of Russia’s review

Analysts of the Bank of Russia have tried to gain insight into the reasons why Russian NPFs tend to show no particular interest in active interest rate risk management. They studied the experience of foreign pension funds that are interest rate derivative market participants and compared it against the situation in Russia. Their findings and the main development trends of the NPF market in 2020 Q2 are provided in the Review of Key Indicators of Non-governmental Pension Funds.