Bank of Russia updates NPF pension savings investing rules
6 February 2019
News
The Bank of Russia has approved amendments to Bank of Russia Regulation No.
Among key updates are criteria enabling an NPF that meets them to buy Russian companies’ shares as part of IPOs. In particular, the total stock value for an IPO must be at least 50 billion rubles; an NPF has the right to buy up to 5% of the total of such stock. Also, the issuer must have a certain ranking.
Under the document, an NPF is allowed to invest in unrated concessionaire bonds on the condition that the third party to a concessionaire agreement is a constituent territory of the Russian Federation.