Placed Reserve, Nat'l Welfare Fund monies yield 9.9% in rubles in 2013 - ministry
MOSCOW. Feb 7 (Interfax) - Combined yield returned from the placement of Reserve Fund monies in foreign currency accounts with the Central Bank of Russia last year, as expressed in the basket of accepted forex, was 0.08% per annum, and as expressed in rubles - 9.90% p.a., a Russian Finance Ministry statement says.
Since its creation, the fund has yielded 1.91% p.a. and 6.99% p.a. in ruble terms.
The yield of Reserve Fund money was 0.28% p.a. in the dollar account (1.28% p.a. since inception), 0.001% in the euro account (2.16% since inception) and negative 0.51% in the pounds sterling account (3.63% since inception).
The yields on the foreign treasury obligations were the lowest in the history of the Russian sovereign funds. Those lower returns were mainly the result of the tapering of quantitative easing in the U.S. and of investors moving into riskier, higher yield investments.
Yield on National Welfare Fund (NWF) money placed in foreign currency accounts with the Central Bank last year was also 0.08% p.a. in forex and 9.9% p.a. in rubles.
Since inception, the NWF's yield on investment was 1.90% p.a. and 6.98% p.a. in ruble terms.
The yield of NWF money was 0.28% p.a. in the dollar account (1.28% p.a. since inception), 0.001% in the euro account (2.14% since inception) and negative 0.51% in the pounds sterling account (3.63% since inception).
The return on NWF funds placed in ruble accounts at Vnesheconombank (VEB) was 6.43% in 2013 (6.70% p.a. since the NWF began placing funds on deposit) and the yield on dollar accounts at VEB was 3.35% p.a. (3.42% since the practice began).
The yield from placement of funds in debt instruments of foreign states made without reference to long-term creditworthiness ratings was 5.00% p.a. (in dollars).
