NSC of Kazakhstan has calculated income ratios of APF for March 2000 - March 2001

/IRBIS, Apr 17, 01/ - The National Securities Commission of Kazakhstan (NSC) has calculated ratios of real and nominal incomes of accumulative pension funds (APF) of the country for March 2000 - March 2001. The data are presented in the following table. When compiling the table the agency IRBIS included the information of NSC on volumes of net assets of APF (total pension assets less liabilities on charged commissions, accounts payable on pensions) as of April 1, 2000 and April 1, 2001. Assets have been converted into U.S. dollars at official rate of the National Bank, effective on given dates. In parentheses are the differences between comparable figure of previous month. ------------------------------------------------------------------------------ Net assets, mln USD Ratio of Ratio of------------------- real nominal As of As of Title of PAMC or APF income К3 income К2 Apr.1.00 Apr.1.01 ------------------------------------------------------------------------------ State Accumulative Pension Fund CJSC ------------------------------------------------------------------------------ State Accumulative Pension Fund CJSC 5.42 15.54 256.750 322.120 (-0.83) (-0.06) ------------------------------------------------------------------------------ Pension Assets Management Company ABN AMRO Asset Management CJSC ------------------------------------------------------------------------------ APF Halyk pension fund JSCOT 6.61(-1.62)16.84(-0.91) 7.752 13.010 APF ABN AMRO-KaspiiMunaiGas CJSC 4.60(-1.48)14.64(-0.77) 23.500 54.087 ------------------------------------------------------------------------------ Pension Assets Management Company Jetysu CJSC ------------------------------------------------------------------------------ Open APF Ular CJSC 5.84(-1.51)16.00(-0.80) 36.406 70.586 APF Kazakhmys CJSC 6.95(-1.73)17.22(-1.03) 20.580 33.592 ------------------------------------------------------------------------------ Pension Assets Management Company Halyk Bank Kazakhstan CJSC ------------------------------------------------------------------------------ APF Halyk Bank of Kazakhstan CJSC 7.20(-1.31)17.49(-0.57) 90.877 176.999 ------------------------------------------------------------------------------ Pension Assets Management Company Ak niet CJSC ------------------------------------------------------------------------------ APF UMIT CJSC 7.52(-1.46)17.84(-0.73) 32.975 73.579 Nefte-Gas-Dem OPAPF CJSC - - 9.789 18.711 ------------------------------------------------------------------------------ Pension Assets Management Company BTA Asset Management CJSC ------------------------------------------------------------------------------ PAPF Kazakhstan CJSC 6.60(-1.58)16.83(-0.87) 11.193 21.445 OPAPF Kurmet CJSC 5.65(-1.48)15.79(-0.76) 6.340 28.150 ------------------------------------------------------------------------------ Non-state Pension Assets Management Company Aktiv-Invest CJSC ------------------------------------------------------------------------------ PAPF Valut-Transit Fond CJSC 5.31(-1.15)15.42(-0.41) 6.325 15.860 PAPF Kunayev CJSC 5.36(-1.49)15.48(-0.78) 1.812 2.853 ------------------------------------------------------------------------------ Pension Assets Management Company BESTINVEST CJSC ------------------------------------------------------------------------------ PAPF SENIM CJSC 6.59(-1.47)16.82(-0.75) 21.846 42.608 PAPF Korgau CJSC - - 0.478 7.601 ------------------------------------------------------------------------------ Only those funds, whose assets were under constant management of indicated PAMC throughout the reporting period, are shown in the table. Comparison of data on other APF, whose assets were under the management for incomplete period, will be inaccurate. By the data of NSC weighted average ratio of real income for pension assets of the accumulative pension funds mentioned above for March 2000 - March 2001 equaled 6.67 (8.13 - for pervious period). The absence of real and nominal income figures for pension assets of Private accumulative pension fund Nefte-Gas-Dem CJSC and Accumulative pension fund Korgau CJSC is due to the fact that during this period the assets of these pension funds were being transferred from one company's investment management to another company. Ratio of nominal income (K2), by the method of NSC, reflects the profitability of APF assets calculated by accruing totals. Ratio of real income (K3) - NSC estimate of the profitability of the assets, including consumer price index (CPI) in Kazakhstan, which equaled 109.6 (108.8) by the data of NSC. Devaluation of national currency, that reached 2.44% (IRBIS estimates) by weighted average rate of tenge towards dollar of the Exchange, does not take into consideration K3. Actually, assets of the depositors are protected against devaluation by investing them into securities indexed by the change in exchange rate of tenge against the dollar, into currency bonds and currency deposits of the banks. Interesting feature of the data presented in this table is that the ratios of real and nominal income of the State accumulative pension fund CJSC assets changed less than those of other APF. Important note: the agency IRBIS is not responsible for the accuracy of the data presented by NSC, as well as for the accuracy of calculation methods used for the ratios mentioned above.