AMC "OTP Capital" and professional pension fund "Magistral", the largest pension fund in Ukraine in terms of number of participants, have signed asset management contract. The Trade Union of Railway Workers and Transport Constructors of Ukraine established the Fund in 2006 with the aim to provide railway workers and transport constructors with non-state pension.
"Involving in the asset management process the company with European roots and Ukrainian long-term experience on the pension asset market will support the realization of our objectives such as strengthening a social protection of railway workers and motivating high-skilled labor force for a long-term employment in the industry. The Fund also provides its corporate members with a good opportunity to expand its social package for employees and to support its image as a socially responsible employer. We believe that cooperation with "OTP Capital" will efficiently and safely increase pension assets of our Union members" - said Vadym Bubniak, the Chairman of The Trade Union of Railway Workers and Transport Constructors of Ukraine and the Chairman of the Board of Professional pension fund "Magistral".
The corporate contributors to the Professional pension fund "Magistral" in favor of its employees are State Administration of Railway Transport, Donetsk, Odessa, Prydniprovska, Lviv, South and South-Western Railway Administrations.
“We are proud of our engagement in the asset management of one of the largest professional pension funds in Ukraine, which has 326 000 participants and UAH 26 mln of assets. We will use all our competence and experience in order to increase pension assets of "Magistral" participants” - said Grygorii Ovcharenko, CEO of "OTP Capital".
AMC "OTP Capital" is managing the assets of open pension fund "OTP Pension" since 2009 with UAH 43.3 mln of assets and 9.8 thousands of participants.
Asset management company OTP Capital was established in July 2007 and became the second after OTP Bank representative of OTP Group 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 of the collective investments market. AMC OTP Capital manages 7 public mutual funds, 3 venture funds, reserves of insurance companies and non-government pension fund “OTP Pension”. Total assets under management as of 30.09.2015 UAH 220.61 mln.
The Trade Union of Railway Workers and Transport Constructors of Ukraine was established in 1992 with purpose to represent and protect the labor, social and economic rights and interests of union members in relations with employers and their associations, in state and local authorities as well as in relations with other civil groups. In April 2015 trade union movement of railway workers and transport constructors in Ukraine celebrated its 110th anniversary.