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

/IRBIS, June 15, 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 May 2000 - May 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 June 1, 2000 and June 1, 2001. Assets have been converted into U.S. dollars at official rate of the National Bank, effective on given dates. The assets of ABN AMRO-KaspiiMunaiGas APF were given as the total of assets of merged funds as of June 1, 2001. 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 June.1.00 June.1.01 ---------------------------------- ----------- ------------ --------- --------- State Accumulative Pension Fund CJSC ------------------------------------------------------------------------------- State Accumulative Pension 4.50 14.64 270.931 329.569 Fund CJSC (+0.27) (-0.02) ---------------------------------- ----------- ------------ --------- --------- Pension Assets Management Company ABN AMRO Asset Management CJSC ------------------------------------------------------------------------------- KNPF Philip Morris Kazakhstan CJSC - - - 1.176 APF Halyk pension fund JSCOT 6.89(+1.21) 17.26(+1.01) 8.604 13.964 APF ABN AMRO-KaspiiMunaiGas 4.35(+0.51) 14.47(+0.25) 26.680 58.655 CJSC ------------------------------------------------------------------------------- Pension Assets Management Company Jetysu CJSC ------------------------------------------------------------------------------- Open APF Ular CJSC 5.34(+0.21) 15.56(-0.09) 42.084 76.317 APF Kazakhmys CJSC 6.00(+0.10) 16.29(-0.20) 22.713 35.661 ------------------------------------------------------------------------------- Pension Assets Management Company Halyk Bank Kazakhstan CJSC ------------------------------------------------------------------------------- APF Halyk Bank of 6.14(+0.07) 16.43(-0.24) 102.776 194.555 Kazakhstan CJSC ------------------------------------------------------------------------------- Pension Assets Management Company Ak niet CJSC ------------------------------------------------------------------------------- APF UMIT CJSC 7.73(+0.51) 18.18(+0.24) 37.889 81.981 Nefte-Gas-Dem OPAPF CJSC - - 10.897 20.227 ------------------------------------------------------------------------------- Pension Assets Management Company BTA Asset Management CJSC ------------------------------------------------------------------------------- PAPF Kazakhstan CJSC 6.56(+0.58) 16.90(+0.32) 12.438 23.674 OPAPF Kurmet CJSC 5.63(+0.56) 15.88(+0.30) 8.290 31.610 ------------------------------------------------------------------------------- Non-state Pension Assets Management Company Aktiv-Invest CJSC ------------------------------------------------------------------------------- PAPF Valut-Transit Fond CJSC 6.65(+1.85) 17.00(+1.72) 6.968 18.111 PAPF Kunayev CJSC 6.06(+0.89) 16.35(+0.66) 1.978 2.875 ------------------------------------------------------------------------------- Pension Assets Management Company BESTINVEST CJSC ------------------------------------------------------------------------------- PAPF SENIM CJSC 5.59(+0.18) 15.83(-0.12) 24.744 46.696 PAPF Korgau CJSC - - 0.837 8.680 ------------------------------------------------------------------------------- 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. Weighted average ratio of real income for pension assets of the accumulative pension funds mentioned above for May 2000 - May 2001 equaled 6.10 (5.79). 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 109.7 (110.0) by the data of NSC. Devaluation of national currency, that reached 2.83% (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. 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.