May 4, 2018 / 10:55 AM / 20 days ago

Russian pensions manager Budushchee posts $249 mln loss for 2017

MOSCOW, May 4 (Reuters) - Financial Group Budushchee , which controls one of Russia’s largest private pension fund groups, posted a net loss of 15.8 billion roubles ($249.2 million) last year, it said on Friday.

FG Budushchee, which manages pension funds worth a total of 335 billion roubles covering 5.2 million people, made a net profit of 6.3 billion roubles in 2016.

Budushchee, which is Russian for “future”, was a shareholder in Otkritie and Promsvyazbank - two large private banks bailed out by the central bank last year. It is controlled by the family of businessman Boris Mints.

The group did not immediately reply to a Reuters request seeking a comment.

$1 = 63.3930 roubles Reporting by Katya Golubkova; Editing by Mark Potter

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