Pension funds «FreeFlight» and «OTP Pension» increase assets by UAH 90 million

During 2021, the non-state pension funds OTP Pension and FreeFlight, which are managed by OTP Capital, a member of OTP Group in Ukraine, increased their assets by UAH 90 million and increased the number of clients by 7,000 during the year.

In addition, Open Pension Fund OTP Pension remains the largest open non-state fund in Ukraine in terms of net asset value. According to the results of the third quarter of 2021, the net asset value of the fund amounted to more than UAH 304.1 million. Also, OTP Pension is the leader in the number of individual depositors, whose share is 45.7% of the number of individual depositors of all NPFs of Ukraine.

"Non-state pension funds are a system of accumulating funds worldwide to provide a pension in addition to the state one. The main purpose of the funds is to raise capital due to small but regular contributions, which an individual can withdraw in the form of pension payments," said Natalia Mezhenska, head of OTP Capital.

Open Pension Fund OTP Pension – the sole founder of the fund is the asset management company OTP Capital, which is part of the OTP Group in Ukraine. The history of the OTP Pension Fund began in 2009. The fund was established to accumulate pension funds for the benefit of individuals, regardless of their place and nature of work, to further manage them, invest with income for the benefit of participants and make pension payments. During the period of its activity, the fund has gone from a beginner to a leading participant in the private pension market.

Open Pension Fund FreeFlight – OTP Capital became the sole founder of the fund in December 2018. From that moment on, OTP Capital completely reoriented the fund's investment strategy. Currently, the investment strategy of the FreeFlight Fund is based on the protection of funds from the devaluation of the national currency. This approach to asset management allowed us to offer a unique product on the market of private pension provision in Ukraine and protect the savings of fund members from devaluation. The fund's assets are fully placed in foreign currency instruments and are valued at the current NBU exchange rate. Thus, with the growth of the dollar, in addition to foreign exchange yields, the participant will receive income from devaluation.

AMC OTP Capital LLC was established in July 2007 by the Ukrainian OTP Bank (9.9%) and the Hungarian Asset Management Company OTP Fund Management (90.1%), and became the second OTP Group representative after OTP Bank in Ukraine.

The company provides a wide range of high quality investment services to both corporate clients and individuals, and is one of the leaders in the mutual investment market. AMC OTP Capital manages seven public investment funds, eight venture funds, assets of insurance companies, as well as four non-governmental pension funds, including the largest non-governmental pension fund in Ukraine – Open Pension Fund “OTP Pension”, the FreeFlight Monetary Fund and the Magistral Pension Fund for railway and transport construction staff. There is UAH 4.1 billion of its assets under management.

Public joint stock company OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The Bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard. Its absolute owner is the largest Hungarian Bank OTP Bank Plc.