Gazfond is the largest Russian pension fund. It was founded in 1994 by Gazprom, Gazprombank and several other organizations. Gazfond owned a 3.22-percent share of Gazprom as of September 5, 2005. The fund is managed by the Leader Managing Company (Chairman of the Board of Directors: Yury Shamalov, CEO: Anatoly Gavrilenko) that in 2006 was sold by Gazprom to the SOGAZ Insurance Company controlled by the Russia Bank. Since 2003 Yury Shamalov has been the President of Gazfond.