Kazyna fund to reconstruct investment portfolio by 2010, and gain the status of independent investment fund 2015

/INTERFAX-KAZAKHSTAN, Almaty, April 17, 08/ - The state fund of Kazakhstan sustainable development Kazyna reviews investment priorities - claimed the head of the fund Arman Dunaev. "With a view to effective usage of financial recourses, we decided to review our investment priorities. (...) Kazina JSC, while financing investment projects, will stick to the following priorities: infrastructure, transport and logistics, energy, metallurgy, chemistry and oil chemistry, entrepreneurship" - he said on Thursday in Astana during round-table discussion on the theme: "Effective usage of domestic financial institutes is the base of country competitiveness" At the same time, he informed that in the structure of investment portfolio of Kazina JSC, by 2010, the projects in mentioned spheres will form 75%, commercially repaid projects - 25%. "In the whole, we are going to realize restructuring of development institute portfolio: to admit expenses of projects realize exit from projects, apply effective system of risks management in development institute" - said A. Dunaev. He also informed that in the future, the projects will be financed by 70% at the expense of loan assets and 30% - at the expense of own assets of Kazyna JSC. Besides, the head of the fund informed about intention to increase financing of industry and infrastructure and provide increase of company and assets yields under fund control in the nearest 5 years, and also about plans on volume increasing of loan and investment portfolio to $13.3 bn. by 2012. "By 2015 Kazina will gain the status of independent investment fund, which partially or fully realized privatization of development institutes with adequate bonus. The fund activity will be focused on assets control with the aim of diversification of Government source of revenue" - informed Dunaev. The state fund of sustainable development Kazyna was found in April, 2006 for increasing of investments and innovation activity in non-primary sector of Kazakhstan economics. [2008-04-18]