Accumulation and reserves of the company were invested in assets that can not be recouped.
The actuarial conclusion of the Fund for the 2017 NPF “Future” (is a subsidiary of the eponymous financial group, the majority shareholder of which remains Boris mints) have invested retirement savings in assets with a high risk of depreciation. As noted in the document, which was published this week, assets were not evaluated at fair value according to accounting.
The Fund noted that the actuary in his report, was obliged to Express his own opinion about the quality of assets and the potential risks. Due to the fact that the number of assets involved in court cases and/or has a trend to impairment, actuaries pointed out the existing risk of impairment, and gave their recommendations for addressing the risks, she said. However, according to Makarova, the Foundation and makes all necessary measures.
NPF “the Future” — the third by assets among domestic funds operating mandatory pension insurance (OPS). At the end of last year, the auditor warned that the volume of low-quality assets of the Fund is 69.5 bn In the first quarter has seen an increase in the proportion of such assets up to 114 billion roubles, that is more than a third of the total assets of the Fund. This paper including the “O1 group Finans” Boris mints, whose 18-may period of technical default has expired; and shares of the Bank “FC Opening”, according to which NPF is suing the Bank “trust”.
In the actuarial opinion also points to the low return on assets that were purchased on reserves, therefore difficulties may arise with meeting obligations in the absence of new revenues from investors. In this case, the Fund would have to sell assets. If some of them will depreciate, there is a risk of default.
As noted in the Fund, assessment cash flow by the actuary was carried out when any part of the assets of the NGO was restructured and its outcome was uncertain. While at the moment this procedure is completed with a positive result.
FG “Future”, which owns the eponymous NPF, comes under the control of the Cyprus Riverstretch Trading & Investments, which bought the concern “Rossium” the loan, the collateral for which are the 75% plus 1 share of FG. In this regard, experts say, it is quite logical procedures that will allow an objective perspective about the company. If there is identified shortfall coverage for the obligations, you can be taken steps to recover funds from the previous owner, including in a judicial order.
We will remind, the company of businessman Boris mints “O1 group Finance” last week made a real default by not paying the bond.
After that, a reflection of the state of Affairs of the company became its bonds on the Moscow exchange. There they gave less than 5% of the nominal value. Securities ‘ yield soared to one million two hundred twelve thousand percent. While trading volume was only seven thousand. Translated into simple language this means that bonds have turned into useless junk paper.
No matter state of Affairs and other structures of the mints. So, Agency Moody’s downgraded by two notches the rating of the company mints of O1 Properties and made it the default.
In March it was reported that shareholders NPF “Future” are in active negotiations about the sale of NPF “Sberbank”.