Pension Fund "UkrsotsFond" bacame a part of "OTP Pension"
Open pension fund "UkrsotsFond" joined "OTP Pension" pension fund. "UkrsotsFond" pension assets in amount of UAH 14 mln owned by 18 thousand participants became a part of the "OTP Pension" managed by "OTP Capital". Before the merger, "UkrsotsFond" ranked 7th by the number of participants and 16th by assets among non-state open pension funds in Ukraine.
After the merger assets of "OTP Pension" increased by 26% and the client base by 188%. Thus, "OTP Pension" became one of the largest open pension funds in Ukraine, which has UAH 68.9 mln of pension assets and 28.6 thousands participants.
"Our goal is to become the market leader among open pension funds, but most important to us is to provide high-quality services and to demonstrate high investment results, allowing our clients to have a decent pension. Our company has extensive experience in asset management, which is based on international experience of OTP Group that is why we are full of confidence that participants of "UkrsotsFond" will benefit from the funds merger. We believe this area of business has prospects, therefore we are ready to consider other merger proposals as well as asset management of other NPF in the near future", - said Grygorii Ovcharenko, CEO of "OTP Capital".
"In 2015, "OTP Pension" increased its assets by 57.9% as a result of contributions, transfers from other funds and investment income. Fund portfolio consists of conservative instruments –bank deposits, government and bank bonds – nevertheless this brought 26.7% of income for fund participants during last year, which is better result in comparison with bank deposits. Stable activity results of our fund for the past 7 years is a guarantee of prosperous future of our clients" – says Vitaliy Dyshlovy, Head of Sales and Marketing Department of "OTP Capital".
The aim of non-state pension funds is to attract pension contributions from individuals and companies, to invest these assets in financial instruments for investment income and inflation protection in order to make pension payments to participants after retirement.
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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.