Yield of OMIF Kaznacheystvo under control of Centras Securities JSC (Kazakhstan) in Q1, 2007 - 11.05% APR

/IRBIS, Valeriy Khegay, April 13, 07/ - In the first quarter of 2007 yield of assets of the Open mutual investment fund (OMIF) "Kaznacheystvo" (Almaty, NIN - KZPFN0002027), whose assets are managed by Centras Securities JSC (Almaty), totaled 11.05% APR, the fund's investment report given to IRBIS agency says. Yield of fund's assets in 2006 totaled 16.57% APR. The fund started its activity on January 21, 2005 while fund total cost was KZT100.0 th. As of March 31, 2007, according to the managing company's data, fund total cost grew to KZT134,579.50. Since the beginning of activity the fund's yield has been estimated by Centras Securities JSC at 15.80% APR. Structure of investment portfolio of OMIF Kaznacheystvo as of April 1, 07 was as follows (similar data complied as of January 1, 07 are given in parentheses): - funds - 0.37% (6.56%); - government securities - 0.00% (3.99%); - bank deposits - 47.86% (43.34%); - corporate bonds and shares - 27.67% (25.00%); - money market instruments - 24.10% (21.11%). Assets were represented in both the national currency (93.64%) as well as in foreign currency (6.36%). Cost of net assets of OMIF Kaznacheystvo according to the managing company's estimate as of April 1, 2007 totaled KZT274.20 m. (as of January 1, 2007 - KZT285.94 m.). "Prices in international stock markets in February experienced drastic correction. The cause was the price drop in Shanghai stock exchange. At the same time, the state of world economy remains favorable. The economy of USA keeps on growing despite problems in the sector of mortgage crediting. The central bank of USA makes it clear that when required it can decrease interest rates in order to stimulate the economy. Demand from China supports the demand for raw materials," is said in the report of the managing company. According to information given in the report, in the second quarter of 2007 Centras Securities JSC expects the further strengthening of tenge relative to dollar to the level of 120-121. Main factors for tenge growth remain: high prices for oil and other export raw materials, high growth rates of economy of Kazakhstan, inflow of foreign investments and borrowing of foreign capital by local companies, as well as domestic and foreign interest in purchase of local issuers' stocks. [2007-04-13]