Holdings in non-governmental pension funds total 4.4 trillion rubles in Q3
Non-governmental pension funds (NPFs) were able to ramp up their pension resources by 1.6% to 4.4 trillion rubles, of which amount 2.9 trillion rubles are pension savings and 1.5 trillion rubles are pension reserves. The growth occurred mainly on the back of a revaluation of corporate bonds and shares, according to ‘NPF Market Trends’, an analytical report.
NPFs increased their investment in government securities in the quarter. The share of corporate bonds in pension savings slightly grew (to 54.4%), while that in pension reserves stopped growth, having reached 47.8%. The portfolio structure of pension reserves is in part under the impact of new investment requirements, which become effective from 1 January 2021.
As the key rate decreased, NPFs went on reducing the investments of pension funds in bank deposits and accounts. The volume of such investments in pension savings totaled under 100 billion rubles (an all-time low since early 2012), and those in pension reserves — 83 billion rubles (an all-time low since early 2015).