By the data of the NSC net pension assets in early May 2001 - $913.0 mln

/IRBIS, May 15, 01/ - According to the National Securities Commission of Kazakhstan (NSC), total amount of the net pension assets (PA) in the country (total amount of pension assets less accrued interests and accounts payable on pension payments) as of May 1, 2001 equaled KZT133,088.8 mln, or $913.0 mln at weighted average rate of the Exchange, effective on that date. A comparable figure for April 1, 2001 was KZT128,170.6 mln, or $881.4 mln. During April assets of accumulative pension funds (APF) grew up by 3.8% in tenge denomination, and by 3.6% - in currency terms. In March 2001 assets grew up by 5.6% and 5.5%, respectfully. As of early May the total amount of PA has amounted to KZT133,257.5 mln, of which KZT132,534.6 mln has been invested. There were seven pension assets management companies (PAMC), fourteen private funds and one state pension fund operating in Kazakhstan. Number of funds did not change. Table below presents volume of pension assets for each fund and (KZT, mln unless otherwise indicated) and distribution of APF assets among PAMC. ---------------------------------------------------------------------------- Total assets ---------- -------------- Net pension Share in total PAMC / APF assets Volume volume, % Invested ---------------------------------------------------------------------------- ABN AMRO ASSET MANAGEMENT PAMC CJSC ---------------------------------------------------------------------------- KNPF Philip Morris 2.02 2.02 0.0 1.99 Kazakhstan CJSC Halyk Pension Fund 1,952.42 1,954.45 1.5 1,939.73 APF CJSC ABN AMRO APF -Caspii 8,186.75 8,195.49 6.5 8,172.60 Munai Gas APF --------------------------- ----------- ---------- -------------- ---------- Total 10,141.19 10,151.97 7.6 10,114.32 --------------------------- ----------- ---------- -------------- ---------- Jetisu PAMC CJSC ---------------------------------------------------------------------------- Ular PAPF CJSC 10,688.41 10,706.15 8.0 10,685.25 Kazakhmys APF CJSC 5,053.34 5,059.78 3.8 5,058.74 --------------------------- ----------- ---------- -------------- ---------- Total 15,741.76 15,765.94 11.8 15,743.99 --------------------------- ----------- ---------- -------------- ---------- Halyk Bank Kazakhstan pension assets management company CJSC --------------------------- ----------- ---------- -------------- ---------- Halyk Bank Kazakhstan 27,064.87 27,108.69 20.3 26,751.64 APF CJSC --------------------------- ----------- ---------- -------------- ---------- Total 27,064.87 27,108.69 20.3 26,751.64 --------------------------- ----------- ---------- -------------- ---------- Ak-niet PAMC CJSC --------------------------- ----------- ---------- -------------- ---------- UMIT APF CJSC 11,446.06 11,471.98 8.6 11,417.39 Nefte-Gas-Dem 2,852.08 2,856.34 2.1 2,836.81 ONAPF CJSC --------------------------- ----------- ---------- -------------- ---------- Total 14,298.14 14,328.32 10.8 14,254.20 --------------------------- ----------- ---------- -------------- ---------- BTA Asset Management PAMC CJSC ---------------------------------------------------------------------------- Kazakhstan NAPF CJSC 3,319.25 3,324.12 2.5 3,311.07 Kurmet NOAPF CJSC 4,366.75 4,368.14 3.3 4,351.94 --------------------------- ----------- ---------- -------------- ---------- Total 7,686.00 7,692.26 5.8 7,663.01 --------------------------- ----------- ---------- -------------- ---------- Aktiv-Invest PAMC CJSC ---------------------------------------------------------------------------- Valut-Transit Fund NNP CJSC 2,459.78 2,460.68 1.8 2,428.11 Kunayev NNPF CJSC 424.17 425.00 0.3 417.84 --------------------------- ----------- ---------- -------------- ---------- Total 2,883.95 2,885.68 2.2 2,845.95 --------------------------- ----------- ---------- -------------- ---------- BESTINVEST PAMC CJSC ---------------------------------------------------------------------------- SENIM APF CJSC 6,480.30 6,481.63 4.9 6,473.84 Korgau APF CJSC 1,207.50 1,208.72 0.9 1,180.55 --------------------------- ----------- ---------- -------------- ---------- Total 7,687.80 7,690.35 5.8 7,654.39 --------------------------- ----------- ---------- -------------- ---------- Total of the non- 85,503.71 85,623.20 64.3 85,027.49 government sector --------------------------- ----------- ---------- -------------- ---------- Government accumulative pension fund CJSC (GAPF) 47,585.11 47,634.26 35.7 47,507.07 --------------------------- ----------- ---------- -------------- ---------- Total of pension assets 133,088.81 133,257.46 100.0 132,534.57 ---------------------------------------------------------------------------- The proportion of SAPF assets decreased from 36.54 to 35.75% within a month. The largest private APF at the end of April are: Halyk Bank Kazakhstan APF CJSC and UMIT APF CJSC. The leaders were the same in late March. Halyk Bank Kazakhstan PAMC CJSC is still leading by the volume of managed assets among private companies (31.66% of all pension assets), JETYSU PAMC is the second in the list (18.41%). The order has not changed here. Korgau APF CJSC had the largest assets growth rates (9.2% in terms of tenge and 8.9% in currency terms). Invested assets were distributed among financial instruments as follows: - mid- and long-term domestic GB of the Ministry of Finance (KZT) - 7.02% (5.14%); - eurobonds of the sovereign debt of Kazakhstan (USD) - 55.58% (56.37%); - short-term domestic GB of the Ministry of Finance and the National Bank (KZT) - 4.95% (6.42%); - municipal bonds of local executive bodies of Kazakhstan (USD) - 0.19% (0.20%); - securities of foreign issuers (foreign currency) - 2.42% (2.28%); - securities of international financial corporations (foreign currency) - 4.25% (3.78%); - shares of Kazakhstani companies - 1.98% (1.94%); - bonds of Kazakhstani companies - 17.13% (17.24%); - deposits and certificates of deposit (KZT) - 0.52% (0.60%); - deposits and certificates of deposit (foreign exchange) - 5.95% (6.03%). The trends in the portfolio structure of the APF stems from these given values. The most vivid of them - a growth in the proportion of mid-term bonds of the Ministry of Finance as the ones with the highest yields (at that moment) due to a decrease in the proportions of euronotes of Kazakhstan. The increase in the proportion of bonds of international financial organizations (IFO) in the portfolios of APF also draws the attention, which are characterized by the highest credit ratings, but the least yields.