NSC of Kazakhstan has calculated income ratios of APF for July 1999 - July 2000

/IRBIS, Aug.15, 00/ - The National securities commission of Kazakhstan (NSC) has calculated ratios of real and nominal incomes of accumulative pension funds (APF) of the country for July 1999 - July 2000. The data are presented in the following table. When compiling the table the agency IRBIS included the information of NSC on volumes of net assets of APF (total pension assets less liabilities on charged commissions, accounts payable on pensions) as of August 1, 1999 and August 1, 2000. Assets have been converted into U.S. dollars at official rate of the National Bank, effective on given dates. In parentheses are the differences between comparable figure of previous month. -------------------------------------------------------------------------------- Net assets, mln USD Ratio of Ratio of ------------------ real nominal As of As of Title of PAMC or APF income К3 income К2 Aug.1.99 Aug.1.00 -------------------------------------------------------------------------------- Gosudarstvennyi nakopitelnyi pensionnyi fond CJSC -------------------------------------------------------------------------------- Gosudarstvennyi nakopitelnyi -4.20 4.90 pensionnyi fond CJSC (-6.41) (3.14) 246.194 275.614 -------------------------------------------------------------------------------- Kompanya po upravleniu pensionnymi aktivami ABN AMRO Asset Management CJSC -------------------------------------------------------------------------------- APF Narodnyi pensionnyi fond 8.85 19.19 JSCOT (9.26) (20.40) 4.302 9.133 OPAPF NeftGas-DEM JSC 8.57 (8.96) 18.88 (20.07) 5.151 11.432 APF KaspiiMunaiGas CJSC 8.58 (9.13) 18.89 (20.26) 3.890 9.469 OPAPF ABN AMRO CJSC 7.59 (7.84) 17.81 (18.84) 5.556 19.248 OPAPF Federatsii profsoiuzov 7.41 17.62 RK CJSC (7.70) (18.89) 0.521 2.018 -------------------------------------------------------------------------------- Kompanya po upravleniu pensionnymi aktivami Jetysu CJSC -------------------------------------------------------------------------------- Otkrytyi nakopitelnyi pensionnyi 9.82 20.26 fond Ular CJSC (10.30) (21.55) 17.482 45.872 Nakopitelnyi pensionnyi fond 10.99 21.53 Kazakhmys CJSC (11.62) (23.00) 13.777 23.656 -------------------------------------------------------------------------------- Kompanya Halyk Bank Kazakhstan po upravleniu pensionnymi aktivami CJSC -------------------------------------------------------------------------------- APF Halyk Bank of Kazakhstan 9.31 19.70 CJSC (9.87) (21.08) 56.117 109.161 -------------------------------------------------------------------------------- Kompanya po upravleniu pensionnymi aktivami Ak niet CJSC -------------------------------------------------------------------------------- 11.16 21.72 APF UMIT CJSC (11.32) (22.67) 15.355 40.809 -------------------------------------------------------------------------------- Kompanya po upravleniu pensionnymi aktivami BTA Asset Management CJSC -------------------------------------------------------------------------------- NOAPF Kurmet CJSC 7.91 (8.54) 18.16 (19.61) 2.179 10.485 -------------------------------------------------------------------------------- Comparable figures of previous month are given in parentheses. By the data of NSC weighted average ratio of real income for pension assets of the accumulative pension funds mentioned above for July 1999 - July 2000 equaled 9.68 (10.19). Only those funds, whose assets were under constant management of indicated PAMC throughout the reporting period, are shown in the table. Comparison of data on other APF, whose assets were under the management for incomplete period, will be inaccurate. Ratio of nominal income (K2), by the method of NSC, reflects the profitability of APF assets calculated by accruing totals. Ratio of real income (K3) - NSC estimate of the profitability of the assets, including consumer price index (CPI) in Kazakhstan, which equaled 109.5 (110.2) by the data of NSC. Devaluation of national currency, that reached 8.10% (IRBIS estimates) by weighted average rate of tenge towards dollar of the Exchange, does not take into consideration K3. Actually, assets of the depositors are protected against devaluation by investing them into securities indexed by the change in exchange rate of tenge against the dollar (AVMEKAM, MEKAVM, SS of local executive bodies), into currency bonds (euronotes of Kazakhstan, securities of foreign emitters) and currency deposits of the banks. Important note: the agency IRBIS is not responsible for the accuracy of the data presented by NSC, as well as for the accuracy of calculation methods used for the ratios mentioned above.