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

/IRBIS, Oct 16, 01/ - The Stock Market Regulatory Department of the National Bank of Kazakhstan (Department) has calculated ratios of real and nominal incomes of accumulative pension funds (APF) of the country for September 2000 - September 2001. The data are presented in the following table. When compiling the table the agency IRBIS included the information of the Department on volumes of net assets of APF (total pension assets less liabilities on charged commissions, accounts payable on pensions) as of October 1, 2000 and October 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 Oct 1.01 Oct 1.00 ---------------------------------- -------------- --------------- --------- --------- State Accumulative Pension Fund CJSC ------------------------------------------------------------------------------------- State Accumulative Pension 6.28 14.78 Fund CJSC (+0.17) (-0.14) 360.894 285.542 ---------------------------------- -------------- --------------- --------- --------- Pension Assets Management Company ABN AMRO Asset Management CJSC ------------------------------------------------------------------------------------- KNPF Philip Morris Kazakhstan CJSC - - 2.255 - APF Halyk pension fund JSCOT 9.33(+0.07) 18.08(-0.25) 16.374 10.179 APF ABN AMRO-KaspiiMunaiGas CJSC 6.65(+0.46) 15.18(+0.18) 70.951 35.603 ------------------------------------------------------------------------------------- Pension Assets Management Company Jetysu CJSC ------------------------------------------------------------------------------------- APF UlarUmit CJSC 7.07( -) 15.64( -) 186.146 53.148 APF Kazakhmys CJSC 8.06(+0.49) 16.70(+0.20) 40.112 26.640 OPAPF NefteGas-Dem CJSC - - 23.557 13.373 ---------------------------------- -------------- --------------- --------- --------- Pension Assets Management Company Halyk Bank Kazakhstan CJSC ------------------------------------------------------------------------------------- APF Halyk Bank of Kazakhstan CJSC 7.60(+0.27) 16.21(-0.03) 231.556 127.602 ---------------------------------- -------------- --------------- --------- --------- Pension Assets Management Company BTA Asset Management CJSC ------------------------------------------------------------------------------------- PAPF Kazakhstan CJSC 8.88(+0.37) 17.59(+0.07) 27.641 15.571 OPAPF Kurmet CJSC 8.36(+0.65) 17.03(+0.38) 38.090 15.877 ---------------------------------- -------------- --------------- --------- --------- Non-state Pension Assets Management Company Aktiv-Invest CJSC ------------------------------------------------------------------------------------- PAPF Valut-Transit Fond CJSC 8.32(-0.09) 16.99(-0.42) 22.591 8.875 PAPF Kunayev CJSC 8.10(+0.11) 16.75(-0.20) 3.146 2.342 ---------------------------------- -------------- --------------- --------- --------- Pension Assets Management Company BESTINVEST CJSC ------------------------------------------------------------------------------------- PAPF SENIM CJSC 8.00(+0.93) 16.64(+0.68) 54.601 31.673 PAPF Korgau CJSC 7.51(+0.76) 16.11(+0.50) 12.445 2.653 ------------------------------------------------------------------------------------- * - APF UlarUmit CJSC was created by merging APF Umit CJSC with OAPF Ular CJSC. There is no data on PAMC Ak niet CJSC since this company has no pension assets under its management. Therefore, tehre is no need to compare real and nominal income coefficients of APF UlarUmit CJSC to previous month. 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 NefteGas-Dem PAPF 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 September 2000 - September 2001 equaled 7.70% (7.44% and 7.14% for the last two periods in reverse chronological order, respectively). Ratio of nominal income (K2), by the method of the Department, reflects the profitability of APF assets calculated by accruing totals. Ratio of real income (K3) - Department's estimate of the profitability of the assets, including consumer price index (CPI) in Kazakhstan, which equaled 108.0 (108.3; 108.5) by the data of the Department. Devaluation of national currency, that reached 3.77% (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.