On cancelling licence of management company

On 23 December 2014, the Bank of Russia took a decision to cancel a licence to manage investment funds, unit investment funds and non-governmental pension funds issued to PalitraFINANCE Management Company, limited liability company (abbreviated name is MC PalitraFINANCE LLC; location: 1/1-2 Varshavskoye Shosse, 1^st floor, 117105 Moscow; PSRN: 1107746741354; ITN: 7726660828; Licence No. 21-000-1-00784, dated 2 December 2010).

The reasons to cancel the licence are as follows:

repeated non-compliance within a year with the Bank of Russia instructions by the Management Company when conducting activity envisaged by the Licence;

repeated violation within a year of the requirements for the disclosure of information stipulated by the federal laws and regulations of the Russian Federation including those of the Bank of Russia when conducting activity envisaged by the Licence.

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24.12.2014 00.00.00