VEB to use pension funds for acquiring 20 bln rubles in high quality corporate bonds by year
MOSCOW. Nov 24 (Interfax) - Vnesheconombank (VEB), acting as a state management company for citizens' pension accumulations, is investing 20 billion rubles from pension funds in high quality Russian corporate bonds by the end of 2009, the deputy director of the Finance Ministry's financial policy market, Andrei Vorontsov, said at a roundtable meeting of the Federation Council on Tuesday in Moscow.
"This is our forecast until year's end," he said.
On the sidelines of the meeting, Vorontsov told journalists that total investment in these corporate bonds would be extremely high next year.