By the data of the NSC total of net pension assets in early January 2001 - $774.8 mln

/IRBIS, Jan 15, 01/ - According to the National Securities Commission of Kazakhstan (NSC), total amount of the net pension assets (PA) in the country (total amount of pension assets less accrued interests and accounts payable on pension payments) as of January 1, 2001 equaled KZT112,649.4 mln, or $774.8 mln at weighted average rate of the Exchange, effective on that date. A comparable figure for December 1, 2000 was KZT107,261.9 mln, or $744.1 mln. During the month assets of accumulative pension funds (APF) grew up by 5.0% in tenge denomination, and by 4.1% - in currency terms. In November the assets grew up by 5.1% and 4.2%, respectfully. In the year 2000 net pension assets grew by 74.6% in terms of tenge, up from KZT64,501.6 mln ($466.6 mln) as of January 1, 00, and by 66.1% in dollar equivalent. As of early January the total amount of PA has amounted to KZT112,869.3 mln, of which KZT112,390.6 mln has been invested. There were seven pension assets management companies and fourteen private and one state pension funds operating (PAMC) in Kazakhstan. The number of funds and companies did not change. Table below presents volume of pension assets for each fund and (KZT, mln unless otherwise indicated) and distribution of APF assets among PAMC. ------------------------------------------------------------------------------------ Total assets --------------------- Net pension Share PAMC / APF assets Volume in total Invested volume, % ------------------------------------------------------------------------------------ ABN AMRO ASSET MANAGEMENT PAMC CJSC ------------------------------------------------------------------------------------ Halyk Pension Fund APF CJSC 1,664.63 1,667.34 1.5 1,654.80 Caspii Munai Gas APF CJSC 2,347.29 2,350.17 2.1 2,332.05 ABN AMRO APF CJSC 4,142.63 4,146.03 3.7 4,122.42 ------------------------------------------------------------------------------------ Total 8,154.55 8,163.55 7.2 8,109.26 ------------------------------------------------------------------------------------ Jetisu PAMC CJSC ------------------------------------------------------------------------------------ Ular PAPF CJSC 8,950.49 8,963.98 7.9 8,907.28 Kazakhmys APF CJSC 4,343.96 4,350.14 3.9 4,348.48 ------------------------------------------------------------------------------------ Total 13,294.45 13,314.13 11.8 13,255.76 ------------------------------------------------------------------------------------ Halyk Bank Kazakhstan pension assets management company CJSC ------------------------------------------------------------------------------------ Halyk Bank Kazakhstan APF CJSC 21,835.70 21,893.87 19.4 21,783.41 ------------------------------------------------------------------------------------ Total 21,835.70 21,893.87 19.4 21,783.41 ------------------------------------------------------------------------------------ Ak-niet PAMC CJSC ------------------------------------------------------------------------------------ UMIT APF CJSC 9,078.18 9,104.89 8.1 9,047.09 ------------------------------------------------------------------------------------ Total 9,078.18 9,104.89 8.1 9,047.09 ------------------------------------------------------------------------------------ BTA Asset Management PAMC CJSC ------------------------------------------------------------------------------------ Kazakhstan NAPF CJSC 2,649.06 2,655.30 2.4 2,601.47 Kurmet NOAPF CJSC 3,145.18 3,145.59 2.8 3,140.76 Nefte-Gas-Dem ONAPF CJSC 2,277.70 2,279.61 2.0 2,259.52 ------------------------------------------------------------------------------------ Total 8,071.93 8,080.50 7.2 8,001.76 ------------------------------------------------------------------------------------ Aktiv-Invest PAMC CJSC ------------------------------------------------------------------------------------ Valut-Transit Fund NNP CJSC 1,876.66 1,876.98 1.7 1,836.19 Kunayev NNPF CJSC 388.38 388.96 0.3 386.67 ------------------------------------------------------------------------------------ Total 2,265.04 2,265.94 2.0 2,222.86 ------------------------------------------------------------------------------------ BESTINVEST PAMC CJSC ------------------------------------------------------------------------------------ SENIM APF CJSC 5,321.29 5,324.00 4.7 5,319.16 Korgau APF CJSC " 771.80 773.39 0.7 719.68 ------------------------------------------------------------------------------------ Total 6,093.09 6,097.39 5.4 6,038.84 ------------------------------------------------------------------------------------ Total of the non-government sector 68,792.94 68,920.27 61.1 68,458.98 ------------------------------------------------------------------------------------ Government accumulative pension fund 43,856.45 43,949.06 38.9 43,931.59 CJSC (GAPF) ------------------------------------------------------------------------------------ Total of pension assets 112,649.39 112,869.33 100.0 112,390.57 ------------------------------------------------------------------------------------ The proportion of SAPF assets decreased from 40.1 to 38.9% within a month. At the beginning of the year 2000 it equaled 52.5%, informs the NSC. The largest private APF at the end of December are: Halyk Bank Kazakhstan APF CJSC (19.40% of all assets), UMIT APF CJSC (8.07%). The leaders in this category did not change: UMIT APF CJSC passed Ular PAPF CJSC, which was on the second place before this, by 13%. Halyk Bank Kazakhstan PAMC CJSC is still leading by the volume of managed assets among private companies (31.77% of all pension assets), JETYSU PAMC is the second in the list (19.32%). The order has not changed here. Korgau APF CJSC had the largest assets growth rates (31.9% in terms of tenge and 30.8% in currency terms). The company has been leading this category during 11 months. As previously, the least growth rate was incident to SAPF. Invested assets were distributed among financial instruments as follows (in parentheses - comparable figures as of December 1, 2000): - domestic GB of the Ministry of Finance (KZT) - 3.09% (4.47%); - domestic GB of the Ministry of Finance (USD) - 1.04% (0.73%); - eurobonds of the sovereign debt of Kazakhstan (USD) - 66.22% (68.39%); - notes of National Bank (KZT) - 4.35% (4.75%); - municipal bonds of local executive bodies of Kazakhstan (USD) - 0.23% (0.52%); - securities (KZT) - 1.85% (1.86%); - securities (foreign currency) - 20.66% (16.31%); - deposits and certificates of deposit (KZT) - 0.84% (0.98%); - deposits and certificates of deposit (foreign exchange) - 1.72% (1.99%). The most noticeable changes in the APF portfolios in December: further increase in the proportion of the corporate securities, which is due to the offering of the Bank CenterCredit OJSC, Karazhanbasmunai OJSC and KAZKOMMERTSBANK OJSC bonds, as well as the decrease in the proportion of euronotes, which, in turn in the opinions of the IRBIS analysts, was caused by local, not market, factors. Comments from IRBIS: the analysis has been solely based on the data submitted by the NSC of Kazakhstan. The IRBIS agency is not liable for reliability of the information presented by the NSC.