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IT IS REGISTERED

in Ministry of Justice

Russian Federation

On August 16, 2010 No. 18155

ORDER OF THE FEDERAL SERVICE FOR FINANCIAL MARKETS OF THE RUSSIAN FEDERATION

of June 8, 2010 No. 10-37/pz-n

About approval of Rules of calculation of market value of assets in which means of pension reserves, and aggregate market value of pension reserves of non-state pension fund are placed

According to Item 38 of Rules of investment of funds of pension reserves of the non-state pension funds and control of their placement approved by the order of the Government of the Russian Federation of 01.02.2007 N 63 (The Russian Federation Code, 2007, N 6, Art. 769; N 38, of Art. 4559; 2008, N 16, Art. 1698; 2009, N 36, Art. 4349; 2010, N 10, the Art. 1101), and the Regulations on the Federal Service for Financial Markets approved by the order of the Government of the Russian Federation of 30.06.2004 N 317 (The Russian Federation Code, 2004, N 27, Art. 2780; 2005, N 33, Art. 3429; 2006, N 13, Art. 1400; N 52, of Art. 5587; 2007, N 12, Art. 1417; 2008, N 19, Art. 2192; N 46, of Art. 5337; 2009, N 3, Art. 378; 2009, N 6, to the Art. 738), I order:

1. Approve the enclosed Rules of calculation of market value of assets in which means of pension reserves, and aggregate market value of pension reserves of non-state pension fund are placed.

2. Declare invalid the order of FFMS of Russia of 17.07.2007 of N 07-78/pz-n "About approval of rules of calculation of market value of assets in which means of pension reserves, and aggregate market value of pension reserves of non-state pension fund" * are placed (with the changes made by the order of FFMS of Russia of 16.07.2009 of N 09-27/pz-n **).

3. This order becomes effective since October 1, 2010.

 

Head V. D. Milovidov

______________________________

* it is registered in the Ministry of Justice of the Russian Federation on August 06, 2007, registration N 9958

** it is registered in the Ministry of Justice of the Russian Federation on September 01, 2009, N 14680

 

Approved by the order of the Federal Service for Financial Markets of June 8, 2010 No. 10-37/pz-n

Rules of calculation of market value of assets in which means of pension reserves, and aggregate market value of pension reserves of non-state pension fund are placed

1. These rules of calculation of market value of assets in which means of pension reserves are placed and aggregate market value of pension reserves of non-state pension fund (further - Rules) establish procedure and terms of calculation of market value of assets in which means of pension reserves of non-state pension fund are placed (further - fund), and also aggregate market value of pension reserves of fund.

2. Market value of assets in which means of pension reserves of fund are placed and aggregate market value of pension reserves of fund are calculated as of the end of each working day, and also as of non-working day if this day the end of the accounting period is necessary. For the purpose of these rules date as of which market value of assets in which means of pension reserves of fund are placed is calculated and aggregate market value of pension reserves of fund, hereinafter is referred to as calculating date.

3. Market value of assets in which means of pension reserves of fund are placed and aggregate market value of pension reserves of fund are calculated no later than the third working day following calculating date.

4. Aggregate market value of pension reserves of fund is calculated as the amount of net assets value in which the fund independently places means of pension reserves, and net assets values in which the means of pension reserves which are in trust management of each managing company of fund are placed (further - net assets value). Assets in which the fund independently places means of pension reserves, and assets in which means of pension reserves are placed through managing company according to one trust management agreement hereinafter are referred to as further as investment portfolios.

5. Net assets value is calculated on each investment portfolio as the amount of their estimated value and receivables which resulted from placement of means of pension reserves in them less the amount of obligations which execution is performed at the expense of the specified assets.

6. If other is not provided by these rules, the estimated value of securities in which means of pension reserves of fund are placed is determined proceeding from:

1) the number of securities as a part of investment portfolio for calculating date;

2) market price of security of calculating date.

7. Market price of security is determined according to the procedure, established for calculation of market value of assets and net assets value in which means of pension accruals are invested.

8. If for calculating date market price of security is not determined according to Item 7 of these rules (there is no market price) and these rules do not provide other procedure for determination of estimated value of securities, the estimated value of securities of the same release is determined proceeding from average price of this security.

9. Average price of security is determined by formula:

Формула 1 к Приказу от 08.06.2010 №18155 -10  10-37-пз-н

where:

Р - average price of one security;

i - sequence number of the transaction made with securities of the same release during the day which according to these rules is calculating date;

n - quantity of security transactions of the same release during the day which according to these rules is calculating date;

R Q - estimated value of securities of the same release,

0 0 determined for the previous calculating date;

P - the price of acquisition (alienation) of one security on i-y to the transaction made during the day which according to these rules is calculating date, without the expense accounting, connected with its acquisition (alienation);

Q - the number of securities in i-y to the transaction made during the day which according to these rules is calculating date;

Q - the number of securities of the same release in structure

0 investment portfolios for the previous calculating date.

10. In case of determination of average price of security of the transaction, providing their execution on delivery conditions against payment, the transactions which are not providing their execution on the specified conditions - for completion date of obligations on transfer of securities are accepted to calculation for date of their conclusion, and.

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