ANALYSIS: According to AFS, Kazakhstan net pension assets reach $10,516.9 m. as of April 1, 2008
/IRBIS, Vitaliy Tomskiy, May 13, 2008/ - According to the data of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS), the total amount of net pension assets (PA) in the republic (total pension assets excluding obligations on charged commission interests, creditors' debts on pension payments) as of April 1, 2008 reached KZT1,269,286.6 m. or equivalent of $10,516.9 m. at the weighted average exchange's rate effective on the mentioned date. Corresponding indicator as of March 1, 2008 - KZT1,249,826.4 m. or $10,342.0 m.
In March 2008 net assets of accumulative pension funds (APF) grew by 1.56% in tenge and by 1.69% in dollar terms. In February 2008 assets increased by 2.33% in tenge and in dollar equivalent by 1.79%.
As of the beginning of April 2008, the total sum of pension assets made KZT1,270,369.7 m., of which KZT1,252,821.7 were invested.
During March 2008, there were five specialized organizations carrying out pension assets investment management activity (PAIMO) and 14 APF. Eight funds - Accumulative pension fund of Halyk Bank of Kazakhstan JSC, APF SAPF JSC, SB JSC Bank TuranAlem JSC, APF BTA Kazakhstan JSC, APF Capital JSC, APF Kazakhmys JSC and OAPF Otan JSC, OAPF named after Kunaev D.A. JSC and APF NefteGas-Dem JSC which actually were PAIMO as well, pension assets were controlled independently. Share of PA, which were controlled by these funds, totaled 69.3% out of the entire amount of PA of the republic, by the beginning of April 2008 (as of March 1, this indicator was 69.1%).
The table below presents volumes of assets of each fund (KZT m., unless otherwise indicated) and distribution of APF assets by PAIMO as of April 1, 2008. Figures in parentheses give the same picture as of March 1, 2008.
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Total assets
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Net % of all PA
pension of
Name of PAIMO / APF assets Volume Kazakhstan Invested
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PAIMO GRANTUM Asset Management JSC
---------------------------------------------------------------------------- GRANTUM APF JSC 76,058 76,072 5.99,(6.04) 75,180 -------------------------------- --------- --------- ------------- --------- Total 76,058 76,072 5.99,(6.04) 75,180 -------------------------------- --------- --------- ------------- ---------
PAIMO Bailyk Asset Management JSC
---------------------------------------------------------------------------- OAPF SENIM JSC 43,284 43,256 3.40,(3.51) 42,935 APF Korgau JSC 18,874 18,910 1.49,(1.47) 18,490 -------------------------------- --------- --------- ------------- --------- Total 62,157 62,166 4.89,(9.77) 61,425 -------------------------------- --------- --------- ------------- ---------
PAIMO ZHETYSU JSC
---------------------------------------------------------------------------- APF UlarUmit JSC 218,086 218,021 17.16,(17.29) 214,671 -------------------------------- --------- --------- ------------- --------- Total 218,086 218,021 17.16,(17.29) 214,671 -------------------------------- --------- --------- ------------- ---------
PAIMO Premier Asset Management JSC
---------------------------------------------------------------------------- APF Respublika JSC 3,205 3,219 0.25,(0.20) 2,918 Total 3,205 3,219 0.25,(0.20) 2,918 -------------------------------- --------- --------- ------------- ---------
PAIMO Nur-Trust JSC
---------------------------------------------------------------------------- OAPF Atameken JSC 30,830 30,843 2.43,(2.44) 30,555 -------------------------------- --------- --------- ------------- --------- Total 30,830 30,843 2.43,(2.44) 30,555 -------------------------------- --------- --------- ------------- ---------
APF, operating as pension assets management companies independently
-------------------------------- --------- --------- ------------- --------- OAPF named after Kunaev D.A. JSC 29,266 29,231 2.30,(2.38) 28,873 APF NefteGas-Dem JSC 31,069 31,117 2.45,(2.42) 30,880 APF SAPF JSC 212,310 212,552 16.73,(16.80) 212,004 APF SB JSC Bank TuranAlem BTA Kazakhstan JSC 137,596 137,812 10.85,(10.79) 136,331 APF of Halyk 371,956 372,425 29.32,(29.13) 364,075 Bank of Kazakhstan JSC APF Kazakhmys 25,838 25,865 2.04,(2.04) 25,266 -------------------------------- --------- --------- ------------- --------- OAPF Otan JSC 32,604 32,671 2.57,(2.53) 32,366 -------------------------------- --------- --------- ------------- --------- JSC APF Capital JSC 38,311 38,376 3.02,(2.96) 38,278 -------------------------------- --------- --------- ------------- --------- Total 878,950 880,048 69.27,(69.06) 868,074 -------------------------------- --------- --------- ------------- ---------
TOTAL pension assets 1,269,287 1,270,370 100.0 1,252,822
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The biggest APF by the end of March from the point of net PA volume (in descending order of PA amount): APF Halyk Bank of Kazakhstan JSC, APF Ular Ymit JSC and APF SAPF JSC
By the volume of the managed assets APF Halyk Bank of Kazakhstan JSC keeps on leading (29.32% of all PA in management). The second place belongs to APF Ular Umit JSC (17.16%); the third place APF SAPF JSC - (16.73%).
The highest asset growth rate (26.73% in tenge) in March was recorded in APF REPUBLIC JSC. In absolute monetary terms on the biggest amount of asset growth the leader is to APF Halyk Bank of Kazakhstan JSC (growth by KZT7,760.4 m.). The second place by this indicator belongs to APF DB JSC Bank TuranAlem BTA Kazakhstan JSC. Its assets have grown during the month by KZT2,743.0 m., the third place belongs to APF SAPF JSC (growth by KZT2,250.7 m.)
Invested assets by financial instruments as of April 1, 2008 were allocated as follows (figures in parentheses display data for previous two months in reverse chronological order, % are given from full PA):
- long-term domestic GS of Ministry of Finance (KZT) - 20.21% (20.30%; 21.67%);
- short-term domestic GS of the Ministry of Finance and the National Bank (KZT) - 5.01% (4.87%; 3.83%);
- stocks of foreign issuers (foreign currencies) - 4.05% (3.28%; 2.44%);
- corporate bonds of foreign issuers (foreign currencies) - 7.65% (6.90%; 6.74%);
- foreign states' securities - 2.92% (4.12%; 2.37%);
- stocks of Kazakhstan companies - 13.47% (13.64%; 14.40%);
- bonds of Kazakhstan companies - 30.63% (30.83%; 30.48%);
- deposits and deposit certificates in the National bank of Kazakhstan and the second tier banks (KZT) - 11.42% (12.15%; 13.07 %)
- deposits and deposit certificates (foreign currencies) - 1.22% (0.79%; 1.70%);
- refined gold - 2.00% (0.97%;0.95%);
- derivative instruments - 0.05% (-0.03 %; -0.12 %).
Funds on investment accounts and other assets according to data of AFS as of March 1 were 1.37% (2.12%; 2.47%) of the total amount of PA.
[2008-05-13]