Income ratios of APF for November 2000 - November 2001 acccording to data of SMRD of NBK

/IRBIS, Dec 20, 01/ - The Stock Market Regulatory Department of the National Bank of Kazakhstan (Department) has calculated ratios of real and nominal incomes of accumulative pension funds (APF) of the country for November 2000 - November 2001. The data are presented in the following table. When compiling the table the agency IRBIS included the information of the Department on volumes of net assets of APF (total pension assets less liabilities on charged commissions, accounts payable on pensions) as of December 1, 2000 and December 1, 2001. In parentheses there is a differences with comparable figures 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 Dec 1.01 Dec 1.00 ---------------------------- ----------- ------------ --------- --------- State Accumulative Pension Fund CJSC ------------------------------------------------------------------------- State Accumulative Pension 8.81(+1.29) 16.21(+0.73) 380.684 298.102 Fund CJSC ---------------------------- ----------- ------------ --------- --------- Pension Assets Management Company ABN AMRO Asset Management CJSC ------------------------------------------------------------------------- KNPF Philip Morris - - 2.709 - Kazakhstan CJSC APF Halyk pension fund JSCOT 8.23(-0.17) 15.59(-0.83) 18.422 10.980 APF ABN AMRO- 7.29(-0.06) 14.59(-0.71) 78.025 41.251 KaspiiMunaiGas CJSC ------------------------------------------------------------------------- Pension Assets Management Company Jetysu CJSC ------------------------------------------------------------------------- APF UlarUmit CJSC 7.28(-1.33) 14.58(-2.07) 199.964 116.887 APF Kazakhmys CJSC 7.96(+0.29) 15.30(-0.34) 42.084 29.046 OPAPF NefteGas-Dem CJSC 8.33(+0.20) 15.69(-0.44) 25.158 14.862 ---------------------------- ----------- ------------ --------- --------- Pension Assets Management Company Halyk Bank Kazakhstan CJSC ------------------------------------------------------------------------- APF Halyk Bank of 8.29(+0.24) 15.66(-0.39) 250.319 142.863 Kazakhstan CJSC OTAN PAPF CJSC - - 0.008 - ---------------------------- ----------- ------------ --------- --------- Pension Assets Management Company BTA Asset Management CJSC ------------------------------------------------------------------------- PAPF Kazakhstan CJSC 9.64(+0.02) 17.09(-0.64) 29.911 17.283 OPAPF Kurmet CJSC 9.56(+0.32) 17.01(-0.31) 41.887 19.360 ---------------------------- ----------- ------------ --------- --------- Non-state Pension Assets Management Company Aktiv-Invest CJSC ------------------------------------------------------------------------- PAPF Valut-Transit Fond CJSC 6.33(-0.51) 13.56(-1.19) 25.083 12.051 PAPF Kunayev CJSC 6.91(-1.78) 14.18(-2.55) 3.298 2.628 ---------------------------- ----------- ------------ --------- --------- Pension Assets Management Company BESTINVEST CJSC ------------------------------------------------------------------------- PAPF SENIM CJSC 8.42(+0.20) 15.80(-0.44) 58.306 34.984 PAPF Korgau CJSC 7.98(-0.04) 15.33(-0.69) 13.881 4.060 ------------------------------------------------------------------------- Notes: 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. APF UlarUmit CJSC was created by merge of APF Umit CJSC and OAPF Ular CJSC. There is no data on PAMC Ak niet CJSC since this company has no pension assets under its management. Weighted average ratio of real income for pension assets of the accumulative pension funds mentioned above for November 2000 - November 2001 equaled 8.19% (8.19% and 7.70% for the last two periods in reverse chronological order, respectively). Ratio of nominal income (K2), by the method of the Department, reflects the profitability of APF assets calculated by accruing totals. Ratio of real income (K3) - Department's estimate of the profitability of the assets, including consumer price index (CPI) in Kazakhstan, which equaled 106.8 (107.4; 108.0) by the data of the Department. Devaluation of national currency, that reached 3.34% (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, into currency bonds 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.