Expert RA, a rating agency, affirmed Uralsib Non-State Retirement Fund’s reliability rating at A: ‘high reliability rating’; the rating outlook was changed from Stable to Positive. The ‘Positive’ outlook means the rating is highly likely to go up in the short term.

While looking into Uralsib’s rating status, the agency pointed out the great scale of accumulated investment profitability of customers’ retirement savings (profitability came to 17%, with some adjustments for the inflation rate, between December 31, 2009 and March 31, 2012) and the great scale of accumulated profitability of the retirement reserves (profitability came to 34%, with some adjustments for the inflation rate, between December 31, 2009 and March 31, 2012) as positive factors.

‘The fund founder is planning to multiply its statutory activity assets by over two times in the nearest future, which means the founder is interested in the fund’s development. This has made a positive impact on the rating and on its outlook,’ says Expert RA Investment & Corporate Rating Director Pavel Mitrofanov.

Besides, the agency’s analysts also consider the wide geographical scale of the fund’s activity and its conservative retirement savings management policy (shares only made up 0.3% and 0.02% of the retirement reserve and retirement savings portfolios, respectively, as of March 31, 2012) to be positive factors.

According to Expert RA, Uralsib’s own assets came to 2.1bn RUR on March 31, 2012 (the 44th position in the ranking).