Chubais proposes to allow pension funds to invest in innovations

The Chairman of the Board of Rusnano, JSC Anatoly Chubais proposed to allow pension funds and insurance companies to invest in innovations.

Speaking at the State Duma on April 15, Chubais said that Rusnano plans to become a public-private equity fund. According to him, such investment partnerships in Europe receive investments from pension funds (18% of total investments), insurance companies (10%) and banks. There are no such funding sources in Russia.

The head of Rusnano noted that insurance companies and pension funds invest only after receiving special permission. The permitting system prohibits funding of investment partnerships. This principle was adopted several years ago, and current realities require changes. In his opinion, it is necessary to expand investment options for pension funds and insurance companies.

A. Chubais added that Rusnano is ready to consider appropriate legislative initiative together with the State Duma deputies. In fact, it is about creating investment industry. We are ready to adopt such transformation, - A. Chubais added.