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VEB.RF earned more than 100 billion rubles for future pensioners
According to the results of 9 months of 2024, VEB.RF earned more than 100 billion rubles. For future pensioners - clients of the Russian Social Fund. Despite the extremely negative environment for long-term investors, VEB's savings portfolio (extended and government bonds) demonstrated growth due to coupon income on bonds and profitability from the placement of funds.
State Management Company (SMC) VEB.RF today published the results of investments in pension savings of citizens - clients of the Russian Social Fund. According to the results of nine months of 2024, income from the expanded savings portfolio amounted to 98.5 billion rubles with an annual yield of 5.86%, income from the government securities portfolio - 2.32 billion rubles with an annual yield of 6.94%.
"Despite the very negative environment for long-term investors, the savings portfolio of state-guaranteed joint ventures has grown. This was ensured by coupon income on bonds and income from the placement of funds. Most of the new investments were made in high-reliability bonds tied to key interest rates, or RUONIA," said Alexander Popov, head of the pension savings management department at VEB.RF. According to him, investments by state management companies in the real sector of the economy were made in a wide range of industries, including urban and transport infrastructure, the oil and gas industry, the production of mineral fertilizers, and the telecommunications sector. "Along with high reliability, these investments give OFZ a yield premium," said Alexander Popov.
With the largest savings portfolio on the market, the State Management Company VEB.RF chooses only highly reliable assets for investment. These are mainly government securities and bonds of the largest Russian companies. Of the 37 million clients of the Russian Social Fund who save with VEB.RF, most have never transferred their savings to a non-state pension fund. VEB.RF will also manage funds of clients of non-state pension funds and management companies whose licenses were previously cancelled or terminated.