MOSCOW - The Russian Federal Service for Financial Markets has launched a tender to choose a managing company, which will sign an agreement with the Russian Pension Fund on trust management of pension funds.

The tender will be held from December 7 to 10. The bids will be registered from November 19 to December 6, the service announced.

The Russian Federal Service for Financial Markets is to announce the results of the tender within a 20-day period after holding it.

Earlier the Russian government toughened regulations on holding a tender on managing pension funds. Thus, the company must have at least RUR200m in assets under management to participate in the tender.