9 Dec 2011 13:58

VEB to hold auction for placement of 30 bln rubles in pension funds in 10mth deposits on Dec 14

MOSCOW. Dec 9 (Interfax) - State corporation Vnesheconombank (VEB) will hold an auction on December 14 for the placement of 30 billion rubles in pension savings in bank deposits, VEB said in a statement.

The funds will be placed for 301 days until December 10, 2012. The minimum interest rate for the auction will come to 8.75%. The minimum amount for one application is 100 million rubles.

Since November 1, 2009, VEB has had the right to invest pension funds in a wide variety of instruments and has begun to put together two investment portfolios with varying degrees of risk: expanded (less conservative) and state securities (more conservative).