Yaroshenko O. The mechanism of attraction and use of non-governmental pension funds' financial resources

The thesis is devoted to the development of theoretical and methodological ba-ses of non-governmental pension funds' operation and the mechanism of accumula-tion and use of their financial resources. The paper summarizes the theoretical and methodological principles upon which is based financial management of non-governmental pension funds (NPF). Conceptual foundations of fundraising and theo-retical bases of structural and logical construction of the complex system of assets and liabilities of NPF were formalized in the work. The author was first to divide as-sets' growth of NPF into the quantitative and qualitative one, which helped to de-velop the methodological tools of the financial strategy for effective management of financial resources depending on NPF stage of its life cycle. In addition, the thesis develops a methodology of calculation of net asset value and net unit value of pen-sion funds and formalized the general trends and problems of portfolio investment. This thesis researches necessary conditions for stimulation of pension funds devel-opment and assesses the main directions of their financial resources formation. On the basis of the analysis of foreign experience the author proposes a mechanism for creating an investment portfolio of purposive or random selection of investment in-struments.