OREANDA-NEWS. RusRating has assigned a credit rating to AO NPF Obrazovaniye i Nauka (Moscow). The rating is "BB" on the international scale and "BBB" on the national scale, in both cases with a stable outlook.

The rating is based on high returns on invested pension savings, low current pension pay-outs, and support from the Fund’s ultimate beneficiary owner.

Constraining factors include the Fund’s relatively modest capital base and limited asset diversification by management company.

About the Fund

AO NPF Obrazovaniye i Nauka was set up in 1994 and specialises in working with private individuals under mandatory pension contracts. It ranks 55th among Russian pension funds by volume of pension savings and 77th by pension reserves. Business activity expanded substantially following a capital investment by the BIN group in 2012. RusRating has reason to believe that the Fund will join the pension insurance programme by the end of the current year, allowing it to take on new pension savings in 2016.

Capital adequacy requirements are comfortably satisfied. Returns on invested pension savings and reserves are above-average for the market. Actuarial balance is close to being satisfied. Pension investments are sufficiently liquid and overall asset quality is satisfactory.