Buduscheye Consolidates Pension Funds
5 December 2016 (14:05)
UrBC, Yekaterinburg, December 5, 2016. The non-state retirement fund Buduscheye is about to merge with a number other Russian non-state retirement funds, the fund’s director Nikolai Sidorov reports.
Last year, the fund set a market precedent by embarking on a merger with StalFond, a major non-state retirement fund; this year, Buduscheye is ready to start managing Uralsib and Nashe Buduscheye.
Sidorov says M&A is the current market trend rather than the particular choice of a few certain pension funds. As the security and financial performance requirements grew stricter in the last two or three years, so did the funds’ administrative costs. Increasingly more market players are merging to manage their workload more efficiently and to keep serving their customers’ interests.
Sidorov feels the consolidated retirement funds’ customers will benefit greatly from the mergers.
Last year, the fund set a market precedent by embarking on a merger with StalFond, a major non-state retirement fund; this year, Buduscheye is ready to start managing Uralsib and Nashe Buduscheye.
Sidorov says M&A is the current market trend rather than the particular choice of a few certain pension funds. As the security and financial performance requirements grew stricter in the last two or three years, so did the funds’ administrative costs. Increasingly more market players are merging to manage their workload more efficiently and to keep serving their customers’ interests.
Sidorov feels the consolidated retirement funds’ customers will benefit greatly from the mergers.
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