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On this page we talk about what SFI is. In addition to data on the holding, here is the information on the shareholding and corporate governance of SFI, and the basic principles of investment. You can read here the history of the holding. If you want to offer us investment projects, you can submit your offer via the feedback form on this page.

General information

PJSC "SFI" (SFI) is a public diversified investment holding company that owns and manages assets from various sectors of the Russian economy. SFI combines assets in the leasing and insurance industries, invests in large minority stakes in industrial and retail companies, and develops IT startups.
National rating:
«А(RU)»
Download Date of assignment  02.09.2022
SFI shareholding structure:
  • 55,96% held by a Russian company, 100% indirectly controlled by SFI (SFI Trading LLC);
  • 44,04% is held by other shareholders (including 10.71% of the shares that are in free float).
SFI shares are traded on the Moscow Exchange (trade code SFIN). They are included in the Level 1 Quotation List.
Customers of the companies that are part of the holding include:

>54
million individuals

624
thousand corporate entities

Offices and stores of companies operate almost throughout Russia

46,8
thousand people are employees of SFI assets

Investment policy

SFI forms a pool of assets consisting of companies that have good growth potential and have/could become leaders in their industry. SFI maintains a focus on companies that can successfully complement the existing portfolio of assets: increase the holding's share in the current markets of presence or provide access to new segments. SF also pays attention to how synergy is achieved between the holding's portfolio companies and a potential new asset.
Basic principles of SFI investment strategy:
  • SFI is a strategic investor.
  • The holding acquires a significant minority or controlling stake in the asset;
  • SFI investment horizon - more than three years;
  • The dividend yield potential is one of the main asset valuation metrics;
  • Investments are aimed at sustainable growth on the holding and its assets capitalization;
  • Developing a strategy to attract third-party investors in the capital of subsidiaries.
  • The investment object is a developed business with a history of positive financial results and projected future incomes.
  • Controlling the costs of subsidiaries, SFI invests in efficiently managed companies.
  • The object for investment is completely transparent and understandable for the market as a whole and the holding in particular.
  • The possibility of synergy with other SFI assets is important.
  • SFI actively participates in the strategic asset management through its representatives on the board of director.
  • The holding has a team of managers with optimal competencies to develop an asset development strategy and evaluate its performance.
  • SFI provides support to portfolio companies in attracting market financing.
  • If necessary, the holding provides cash in accordance with the asset development strategy.
  • Private assets: maximizing shareholders value through IPO and/or sale of a company to strategic partner.
  • Public assets: еxit at the target level of company’s valuation.
If you are ready to discuss your investment ideas with us as a potential partner, please send your proposal and contacts.

Suggest

your project

SFI is constantly looking for new interesting projects, focusing on a business potential, possible synergy, and a reasonable balance of profitability and risk. Suggest project

Corporate governance

Compliance with global corporate governance practices
The Сompany bases its activities on the principles of corporate behavior contained in the Corporate Governance Code, which was approved by the Board of Directors of the Bank of Russia and based on the provisions of the current legislation of the Russian Federation.
SFI regularly assesses its own compliance with the principles of corporate governance, using methods recommended by the regulator. As part of the assessment, the contents of the Charter and internal documents, as well as corporate governance practices, are analyzed for their compliance with the principles and recommendations set out in the Corporate Governance Code of the Bank of Russia.
The report on compliance with the principles and recommendations of the Corporate Governance Code is on website Сorporate information disclosure center.
The management bodies are the General Meeting of Shareholders and the Board of Directors. The executive bodies of PJSC "SFI" are the Management Board (the collegial executive body) and the CEO (the Sole Executive Body). There are two Committees under the Board of Directors – Audit and risks Committee and Remuneration and Nominations Committee. Control and audit is carried out by the internal audit service, the audit commission and the external auditor.

Pursuant to Federal Law No. 208-FZ dated December 26, 1995 "On Joint-Stock Companies" and the SFI Charter, the General Meeting of Shareholders is the SFI's supreme governance body. The activities and competence of the General Meeting of Shareholders are governed by the joint-stock company laws of the Russian Federation, the provisions of the Charter, and the Regulations on the Procedure for Convening and Holding General Meetings of Shareholders of PJSC "SFI" (version 3).

SFI strives to ensure the highest level of protection of shareholders' rights to participate in managing the holding, including the rights to participate in the General Meeting of Shareholders and to vote on issues on its agenda, as well as the rights to receive profits in the form of dividends.

The Board of Directors is the main body in the Company's corporate governance framework. The key goals of the Board of Directors are long-term growth in the Company's assets value; protection of rights and interests of the shareholders and providing complete, accurate, and timely public information about the holding. The current composition of the Board of Directors of SFI was formed in accordance with the decision of the extraordinary meeting of Shareholders of the Company on September 9, 2022.

The committees carried out preliminary material reviews and made recommendations on a number of issues important to SFI. After being reviewed at committee meetings, decisions on these issues were adopted at the Annual General Meeting of Shareholders and at meetings of Board of Directors. There are two Committees under the Board of Directors – Audit and risks Committee, Remuneration and Nominations Committee.

The Corporate Secretary of SFI ensures compliance of the Company’s governance bodies and officers with the procedures stipulated by laws of the Russian Federation, the Charter and internal documents of the Company as a way to protect the rights and interests of the Company's shareholders. The Corporate Secretary also facilitates interaction between shareholders, the Board of Directors, and other corporate stakeholders.

Mikhail Gorbachev

All positions held by the person in the Issuer and other organisations over the past five years up to now, including on a part time basis:

  • January 2016 – August 2017: Corporate Secretary at Europlan;
  • August 2017 – present: Corporate Secretary at SFI.
Corporate
Secretary SFI
Year of birth: 1978
Education and qualifications: A university degree.

The internal control system (ICS) of SFI is a set of organizational measures, procedures, and actions taken by the holding for business efficiency and compliance with the laws of the Russian Federation and SFI's own internal documents. The ICS verifies the actions of the holding's management with respect to the measures taken to achieve SFI's strategic and operational goals, ensure the accuracy and timeliness of reporting, guarantee the safety of the holding, and ensure SFI's compliance with applicable laws and the requirements of local regulatory documents. The effectiveness of the corporate ICS is assessed annually by the Internal Audit Service and the Revision Commission to provide the Board of Directors and executive bodies with objective and unbiased information on the current state of the internal control system.

History of the holding

PJSC "SFI" is a major player in the financial market and combines public and nonpublic assets, as well as growing businesses. The holding brings together companies with a long history. The unified corporate center of the holding, which unites the portfolio of financial assets that had previously developed independently, appeared in 2016. In 2017, the holding acquired its current name and structure - the Europlan operating leasing company was finally spun off from a public joint-stock company, and SFI focused on the strategic management of the assets included in the holding and the development of the asset portfolio as a whole.

2013-2015

  • Pension assets acquired, including the NPF Raiffeisen (subsequently rebranded as NPF SAFMAR).
  • Europlan LC acquired, IPO in December 2015.

2016

  • 49% of VSK Insurance House acquired.
  • The three funds acquired earlier merged with NPF SAFMAR.
  • JSC Europlan's SPO

2017

  • The leasing business separated into a subsidiary of Europlan LC.
  • The holding rebranded as PJSC SAFMAR Financial Investments.

2018

  • New private pension assets (Doveriye and Mospromstroy-Fund) and Direct Credit credit broker acquired.
  • S&P international rating: B+.
  • Three-year share buyback program launched

2019

  • NPF Doveriye merged with NPF SAFMAR.
  • S&P international rating upgraded to BB-.
  • Share buyback program expanded: buyback operator consolidated 8.44% of SFI.

2020

  • The buyback operator consolidated more than 50% of SFI shares.
  • A 10% stake in M.Video-Eldorado Group, a leading retailer of electronics and household appliances, acquired.

2021

  • Exit from the pension business: pension funds sold.
  • 51% stake in GFN.RU cloud gaming service acquired.
  • Stake in RussNeft Oil Company acquired.
  • The holding renamed and rebranded as PJSC "SFI" (SFI Investment Holding).
  • Direct Credit sold to the M.Video-Eldorado Group.
  • Share buyback program completed.
  • New investment strategy for PJSC "SFI" adopted.