OREANDA-NEWS. April 15, 2009. Bank of Moscow joins the Top-3 in the Rating of trust managers of the Fund for promoting reform of housing and communal services

The Bank of Moscow has joined the Top-3 in the Rating of trust managers of the Fund for promoting reform of housing and communal services. In the Rating drawn up by the Fund on the basis of an assessment of the activities of managers as of 1 January, 2009, a number of factors were taken into account, including actual returns on securities management operations, the average weighted returns on the securities portfolio and the average weighted duration of the securities in the manager’s portfolio. In aggregate, the Bank of Moscow took 2nd place in the Rating.

In June 2008, the Bank of Moscow became one of the winners of the tender to select trust managers for the temporarily free funds of the state corporation Fund for promoting reform of housing and communal services. The Fund’s money is placed state municipal and corporate bonds and in mortgage securities. In July 2008, the Bank commenced management of the funds.