Investors

The following legal entities – residents of the Russian Federation – may hold government savings bonds (OGSZ):

• insurance companies;
• non-state pension funds;
• joint-stock investment funds;
• the Russian Federation Pension Fund;
• other state non-budgetary funds of the Russian Federation

The following management companies are entitled to acquire OGSZ:

• companies providing trust management of pension accruals under contract with the Russian Federation Pension Fund;
• companies providing trust management of joint-stock investment fund assets (at the funds’ sole expense in the event that compliance with the requirements with respect to the composition and structure of joint-stock investment fund assets is mandated by Russian law);
• companies providing trust management of pension accruals under trust management contracts executed with non-state pension funds.