Union of pension system of Kazakhstan participants - for Accumulative Pension Fund rating

/IRBIS, Sep.30, 99/ - Nurzhan Alimuhkambetov, the representative of the Union of pension system of Kazakhstan participants declared today to the journalists, that it is time to introduce the Accumulative Pension Fund (APF) rating system. "Pension system is completely generated today, there is enough competitive and even super competitive market operators and it will be normal to implement the rating system", - he said. On September 20 volume of APF assets has reached an equivalent of 400 million dollars. By the beginning of the month, according to the data of the National Securities Commission of Kazakhstan, sum of net pension assets (total assets minus the charged commission compensations and pension payment debt) has made 53,128.1 million tenges or $392.2 million at the September 01 USD/KZT average weighted market rate. About 37% assets are accumulated now by 13 Non-state Accumulative Pension Funds (NAPF) and their share grows constantly that shows a growing trust to the non-state funds. The Union shown some interesting data, according to which the average volume of one investor's accumulation in NAPF has exceeded 10,000 tenge, in some NAPF it reaches 100,000 - in contrast with 9,600 tenge of State Fond. Hence, the rating is necessary, and its introduction will allow to be guided among the funds. The Chairman of Kazakhstan Pension Agency Saken Amanzholov has told, that there will be four parameters in the rating basis: - yield of pension fund, - amount of investors, - volume of pension assets, - investment income. He considers that the rating should be published weekly in the republican newspapers. It is unknown yet, which organization will be entrusted to rate Pension Funds.