Sotsialnaya Zaschita Starosti (Social Protection of the Elderly) non-governmental pension fund and Renessans Capital Management Company Ltd. signed the superannuation funds management contract. This fact was reported to UrBC representative by a spokesperson for the Fund.

According to their CEO, Igor Skrypkin, the offer of Renessans Capital meets the strategic objectives of the pension fund, primarily aimed at conserving pension contributions of private persons, and hedging them against the inflation.

To date, the total investments of the pension fund trustors amounts to 120m RUR. Within the first four months of 2006, the funds net worth exceeded 1.3b RUR while its pension contributions exceeded 1.17b RUR. The fund is cooperating with 96 companies. The number of the fund’s pension plans participants is over 100,000 people including 5,000 beneficiaries of non-governmental pensions.