Yield of OMIF Kaznacheystvo under control of Centras Securities JSC (Kazakhstan) in Q4, 2007 - 8.81% APR

/IRBIS, Valeriy Khegay, February 1, 08/ - In the fourth 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 8.81% APR. About it is saying in investment report of the managing company, with file of which IRBIS agency is disposing. Yield of fund's assets in third quarter of current year totaled 8.77% APR. The fund started its activity on January 21, 2005 while fund total cost was KZT100.0 th. As of December 31, 2007, according to the managing company's data, fund total cost grew to KZT144,270.34. Since the beginning of activity the fund's yield has been estimated by Centras Securities JSC at 15.05% APR. Structure of investment portfolio of OMIF Kaznacheystvo as of December 31, 07 was as follows (similar data complied as of October 1, 07 are given in parentheses): - funds - 0.00% (0.00%); - state securities - 0.00% (0.00%); - bank deposits - 40.60% (44.39%); - shares -3.94 %(3.20%); - corporate bonds - 33.00% (24.32%); - money market instruments - 22.46% (28.39%). Assets were represented in both the national currency (98.77%) as well as in foreign currency (1.23%). Cost of net assets of OMIF Kaznacheystvo according to the managing company's estimate as of December 31, 07 totaled KZT306.01 m. (as of October 1 2007 - KZT303.07 m.). In the report of management company it is said that in the fourth quarter of 2007 due to the shrinkage of yield on money market, the stake of assets, invested there, was decreased proportionally and in favor of corporate bonds. The main surplus in the yield fell at savings accounts in the banks and corporate bonds. "Prices on international shares markets from October to December decreased significantly because of the concerns about start of recession in the U.S. - one of the biggest trading partners in the world. The market has estimated unfavorably the actions of FRS of the U.S., having expressed distrust to the politics, conducted by the Central bank. In the opinion of investors, an insufficiently aggressive decrease in the prime rate was not able to save the country from the upcoming recession. Also negative for the market were the rise in price of oil and decrease of U.S. dollar exchange rate against the main currencies. The greatest correction was experienced by the shares of financial sector", - is said in the report. In the fourth quarter of year 2007 Centras Securities JSC is expecting the stable growth of tenge in relation to dollar in the upper border of KZT120-121 range with possible tendency to the depreciation to the level of KZT122 - 123. . "Main factor, which may hold the strengthening of tenge, is drain of capital of foreign investors because of concerns around risks in the financial filed on emerging markets. Prospective industries may be the oil and metallurgical sectors while there is uncertainty, remaining in the financial sector. The possibilities of gaining a high yield on corporate bonds remain present", - is said in the report of Centras Securities JSC. [2008-02-01]