Khanty-Mansiysky Retirement Fund transfers savings to Gazprombank

23 December 2010 (09:12)

Khanty-Mansiysky Non-State Retirement Fund and Gazprombank Asset Management signed a trust management agreement, the fund reports.

Private individuals’ retirement savings (worth over 2 billion RUR altogether) have already been transferred to the management company’s account. This was the fund’s Board that chose the trust manager for the savings.

Khanty-Mansiysky Non-State Retirement Fund was set up in 1995 by the regional Public Property Department on behalf of Government of Khanty-Mansiysky Autonomous Region –Yugra.

The retirement fund in question found itself in the middle of a serious public scandal this year. An audit check of the company proved that the actual worth of the fund’s assets was 5 billion RUR less than the figures stated in the annual report.

The root of the problem, according to the fund’s current president Alexei Okhlopkov, is in the numerous violations in the finance management field committed by the fund’s former management.

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