According to NSC, sum of the net pension assets in Kazakhstan at the beginning of January is $466.6 millions

/IRBIS, Jan.17, 00/ - According to the data of the National securities commission of Kazakhstan (NSC), sum of the net pension assets (PA) in republic (the sum of pension assets minus the charged commissions and accounts payable) as of January 01, 2000 has made 64,501.6 million tenges or $466.6 million at current average weighted market rate. A corresponding parameter on December 01, 1999 was 59,903.5 million tenges or $433.9 million. For the month the Accumulative Pension Fund assets have grown by 7.7% in tenges or by 7.5% - in dollars. For the last four months of 1999 it is very large speed. For example, in November the growth has made 2.5% in tenge and 3.9% in currency. One from the PAMC (Pension Assets Management Company) employees has given an plausible explanation of this phenomenon. As it is known, in December the government has paid wages to the state employees and it increased pension funds allocation. Also the premiums were given in some organizations. Many chiefs has made the premature wages payment to close all money turnovers of 1999. It is possible that these three reasons explains the December's high grow. Their action has canceled now and it can explain a sharp reduction of the grow in January 2000. By the beginning of December PA has made 64,562,7 million tenges, from them 63,625.7 millions were invested. The share of SAPF (State PAMS) assets has decreased for a month from 53.8 to 52.5%. There are 7 PAMS in the country, 15 non-state and one state Accumulative Pension Funds (APF). The largest Non-state APF at the end of December: Closed JSC "APF Halyk Bank of Kazakhstan" (16.5% of assets) and Closed JSC "ONPF "Ular" (6.3%). PAMS of the National Bank of Kazakhstan is the biggest in term of assets under its management (16.5% from total), PAMS "ZHETYSU" (10.1%) is the second in the list. The invested assets were distributed among the financial tools as follows (in brackets - corresponding parameters on December 01, 1999): - Internal State Securities of the Ministry of Finance (KZT) - 4.22 % (2.04 %); - Internal State Securities of the Ministry of Finance (USD) - 52.23 % (53.61 %); - Eurobonds of Kazakhstan(USD) - 36.18% (37.80%); - Notes of the National Bank (KZT) - 2.04 % (22.22%); - Notes of the National Bank (USD) - 0.39% (0.04%); - Bonds of the local Kazakhstani executive bodies (USD) - 0.29% (0.08%); - Non-state securities (KZT) - 0.37% (0.27%); - Non-state securities (foreign exchanges) - 2.62% (2.97%); - Deposits and deposit certificates (KZT) - 0.68% (0.11%); - Deposits and deposit certificates (foreign exchanges) - 0.98% (0.16 %). Note of IRBIS: the analysis has been executed using only the data given by NSC. IRBIS agency does not answer for reliability ofthe NSC information.