According to NSC, in Kazakhstan total amount of net pension assets in early July - $607.1 mln

/IRBIS, July 14, 00/ - According to National securities commission of Kazakhstan (NSC), total amount of net pension assets (PA) in the republic (total amount of pension assets minus accrued interests and accounts payable on pension payments) as of July 1, 2000 equaled KZT86,724.3 mln or $607.1 mln at weighted average rate of the Exchange, effective on that date. A comparable figure for June 1, 2000 was KZT82,582.6 mln or $579.6 mln. In one month the assets of APF grew by 5.0% in terms of tenge, and by 4.7% - in currency terms. In May the assets grew 4.9% in terms of tenge, and 4.6% in terms of currency. As of early June total amount of PA has amounted to KZT86,834.7 mln, of which KZT86,236.5 mln have been invested. Total of seven PAMC, 15 private and one state APF are working in the country. The number of PAMC and the funds did not change during the month. The proportion of SAPF assets decreased from 46.7 to 45.3% within a month. The largest PAPF at the end of June are: CJSC "APF of Halyk Savings Bank of Kazakhstan" (17.97% of all assets) and CJSC "ONPF Ular" (7.55%). The leaders in this category are still the same. PAMC of Halyk Savings Bank of Kazakhstan is leading by the volume of managed assets among Private APF (17.97% of all PA), PAMC "JETYSU" is the second in the list (11.44%). The order has not changed here also. CJSC "APF "Korgau " had the greatest assets growth rates (51.5% in tenge and 51.9% in currency) in June. The company has been the leader in this category for five month already. The least growth rate was incident to SAPF. Last month the order was the same. Invested assets were distributed among financial instruments as follows (in parentheses - comparable figures as of June 1, 2000): - domestic SS of the Ministry of finance (KZT) - 5.21% (4.50%); - domestic SS of the Ministry of finance (USD) - 3.12% (6.25%); - eurobonds of the sovereign debt of Kazakhstan (USD) - 79.87% (81.85%); - notes of National Bank (KZT) - 0.26% (0.94%); - municipal bonds of local executive bodies of Kazakhstan (USD) - 0.52% (0.54%); - private issue securities (KZT) - 0.71% (0.71%); - private issue securities (foreign currency) - 7.59% (3.06%); - deposits and certificates of deposit (KZT) - 0.50% (0.51%); - deposits and certificates of deposit (foreign currency) - 2.13% (1.64%). The most significant changes in the structure of investments took place as a result of doubling the proportion of private issue securities, denominated in foreign currency, with a noticeable decrease in the proportion of euronotes and domestic SS of Kazakhstan. Obviously, this deformation of the structure was caused by an active purchases of corporate bonds by PAMC in June, and first of all, the bonds of CJSC "NOC "KAZAKHOIL". Comments from IRBIS: the analysis has been made solely based on the data given by NSC of Kazakhstan. The agency IRBIS is not liable for reliability of the information presented by NSC.