OREANDA-NEWS. 'Expert RA' rating agency confirmed 'First National Pension Fund' PPF reliability rating A+, which means very high reliability, and changed the outlook from stable to developing. The developing outlook means high probability of maintaining and upgrading the rating in the mid-term.

When 'First National Pension Fund' was rated, the Agency highlighted the low share of the stock-exchange risk related instruments in the pension asset portfolio structure, the high insurance provision / PLP ratio and low actuarial risks among positive factors.

The absence of own risk management system, low diversification of pension assets and pension provisions by management companies and the moderately high share of stock exchange risk instruments in the pension provision portfolio were highlighted as the rating-restraining factors.