AK&M Rating Agency has withdrawn the national scale reliability rating ('A', tier 3, stable outlook) of UNIVER Management LLC after the asset manager's license no. 21-000-1-00101 for the management of investment funds, mutual funds and non-state pension funds as of December 24, 2002 was revoked by the Bank of Russia (the Central Bank of Russia's decision as of May 5, 2016).

For estimation purposes, we completely rely on the reliability of information provided by the Company. The rationale for AK&M Rating Agency's judgment on the rating may include information acquired from other sources we deem to be reliable; however, the agency does not check the input data exhaustively and disclaims all responsibility for their possible errors.

The rating, along with any information and conclusions provided in this press release, only conveys our creditworthiness opinion and shall not be construed as a recommendation to make any investment decisions.

AK&M Rating Agency shall not be held liable for any interpretations, inferences and consequences related to the application of results of the rating estimation procedure by any third parties.

AK&M Rating Agency is a leading independent national rating agency engaged in rating activities since 1993.

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