In the first quarter of 2018 JSC APF "SAFMAR", part of the industrial and financial group "Safmar" Mikhail Gutseriev, received a total income of 4.8 billion rubles. This is more than double the result for the same period last year - 2.1 billion rubles.

The assets of the Fund as of March 31, 2018 exceed 200 billion rubles, equity, taking into account the accumulated profit of previous periods, is 12.6 billion rubles.

In the first quarter, the Fund paid out 13.2 billion rubles for activities in the framework of TSOs and NGOs. Contributions from customers under contracts of TSOs and NGOs amounted to 7.2 billion rubles.

The financial result of the first quarter of 2018 was largely secured by an effective investment activity: in the reporting period the Fund earned 3.8 billion rubles in investment income against 2 billion rubles for the same period last year.

"In the conditions of instability in the stock market, the Fund focused on fixed income instruments, gradually increasing the share of state and corporate bonds in the portfolio," notes the head of the investment management of NPF Safmar Andrey Yesin.

- As of the end of March 2018, the share of fixed income instruments in the portfolio exceeded 77%, due to which the Fund received a significant coupon yield. At the same time in the first quarter a number of large public companies, whose shares are in the Fund's portfolio, showed an increase in market value, which allowed us to reflect a positive revaluation ".

The total income of the Fund from the activities on TSOs, NGOs and investment activities exceeded 5 billion rubles.

Operating expenses of the Fund for the reporting period amounted to 285 million rubles.