Investment holding company SFI sells NGPF Mospromstroy-Fund

Investment holding company "SFI" (MOEX: SFIN) and NGPF Vnesheconomfond, a member of the Russian Funds Investment Group, finalized the sale of 100% of shares in Non-Governmental Pension Fund Mospromstroy-Fund to Vnesheconomfond.

Avet Mirakyan, the CEO of SFI, noted, “At the end of 2020, SFI made a strategic decision to exit the pension fund market. The first step in this process was the sale of NGPF SAFMAR to the Region Group in the first quarter of 2021. We are now divesting our last pension fund asset. This transaction allows us to continue to build up our liquidity reserve, which can be used for various purposes, including the acquisition of new assets."

NGPF Mospromstroy-Fund was founded in 1995 to provide financial support to the employees retiring from PJSC Mospromstroy and to stabilize the number of employees of the company. In December 2018, the pension fund, which at that time was a non-profit organization, was reorganized as a joint-stock company. The fund is a member of the Association of Non-Governmental Pension Funds Self-Regulatory Organization. The fund provides non-governmental pension services to 3,820 participants, 1,350 of which are already receiving pension payments.