SMRD of NBK has calculated income ratios of APF for July 2000 - July 2001

/IRBIS, Aug 14, 01/ - The Stock Market Regulatory Department of the National Bank of Kazakhstan (SMRD, former National Securities Commission of Kazakhstan NSC) has calculated ratios of real and nominal incomes of accumulative pension funds (APF) of the country for July 2000 - July 2001. The data are presented in the following table. When compiling the table the agency IRBIS included the information of the Department and the NSC on volumes of net assets of APF (total pension assets less liabilities on charged commissions, accounts payable on pensions) as of August 1, 2000 and August 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 Aug.1.00 Aug.1.01 ---------------------------- ----------- ------------ --------- --------- State Accumulative Pension Fund CJSC ------------------------------------------------------------------------- State Accumulative Pension 5.66 14.64 Fund CJSC (+0.52) (+0.04) 275.711 346.104 ---------------------------- ----------- ------------ --------- --------- Pension Assets Management Company ABN AMRO Asset Management CJSC ------------------------------------------------------------------------- KNPF Philip Morris Kazakhstan CJSC - - - 1.873 APF Halyk pension fund JSCOT 9.08(+0.38) 18.35(-0.13) 9.136 15.069 APF ABN AMRO-KaspiiMunaiGas CJSC 5.91(+0.47) 14.91(-0.02) *28.727 64.691 ------------------------------------------------------------------------- Pension Assets Management Company Jetysu CJSC ------------------------------------------------------------------------- Open APF Ular CJSC 6.24(+0.45) 15.27(-0.04) 45.888 83.406 APF Kazakhmys CJSC 7.10(+0.67) 16.20(+0.19) 23.664 37.915 ---------------------------- ----------- ------------ --------- --------- Pension Assets Management Company Halyk Bank Kazakhstan CJSC ------------------------------------------------------------------------- APF Halyk Bank of Kazakhstan CJSC 7.11(+0.30) 16.21(-0.21) 109.199 212.703 ---------------------------- ----------- ------------ --------- --------- Pension Assets Management Company Ak niet CJSC ------------------------------------------------------------------------- APF UMIT CJSC 8.15(-0.03) 17.34(-0.57) 40.824 89.446 Nefte-Gas-Dem OPAPF CJSC - - 11.436 21.707 ------------------------------------------------------------------------- Pension Assets Management Company BTA Asset Management CJSC ------------------------------------------------------------------------- PAPF Kazakhstan CJSC 8.12(+0.52) 17.31(+0.03) 13.230 25.598 OPAPF Kurmet CJSC 7.27(+0.56) 16.38(+0.07) 10.488 35.118 ---------------------------- ----------- ------------ --------- --------- Non-state Pension Assets Management Company Aktiv-Invest CJSC ------------------------------------------------------------------------- PAPF Valut-Transit Fond CJSC 8.53(+0.48) 17.76(-0.02) 7.582 20.376 PAPF Kunayev CJSC 7.90(+0.84) 17.07(+0.38) 2.096 3.041 ---------------------------- ----------- ------------ --------- --------- Pension Assets Management Company BESTINVEST CJSC ------------------------------------------------------------------------- PAPF SENIM CJSC 6.60(+0.22) 15.66(-0.29) 26.687 50.778 PAPF Korgau CJSC 5.67 ( -) 14.65 ( -) 1.265 10.980 ------------------------------------------------------------------------- * total net assets of KaspiiMunaiGas CJSC and ABN AMRO CJSC are given 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. The absence of real and nominal income figures for pension assets of Korgau APF CJSC in the data of the Department 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. Weighted average ratio of real income for pension assets of the accumulative pension funds mentioned above for May 2000 - May 2001 equaled 7.14 (6.81). 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 108.5 (110.0) by the data of NSC. Devaluation of national currency, that reached 3.15% (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.