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Macroeconomic News

Russian National Welfare Fund to invest in domestic securities - Putin

Wed, 12th Dec 2012 09:34

MOSCOW, Dec 12 (Reuters) - Russia's National Welfare Fund should invest up
to 100 billion roubles ($3.25 billion) into Russian securities next year, President Vladimir Putin said on Wednesday in his an annual state-of-the-nation address.

The National Welfare Fund, presently worth $87.5 billion, is the larger of two sovereign wealth funds accumulated from oil revenues.

It is designated to support the long-term stability of the pension system, and is presently mostly invested abroad in bonds of western governments. ($1 = 30.7530 Russian roubles)

(Reporting by Jason Bush) Keywords: RUSSIA WELFARE FUND/

( 495 775 1242)(Reuters Messaging:

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