Analysis: Dynamics of conditional pension unit of Kazakhstani APF in year 2001 on the basis of complete data for ten months

/IRBIS, Nov 23, 01/ - IRBIS agency continues data publication of information provided by the Accumulative Pension Funds Regulation Committee of the Ministry of Labor and Social Protection of Kazakhstan (Committee). The following table contains values for conditional pension units (CPU) of accumulative pension funds' assets as of November 01, 2001 and also dynamics of this indicator in different periods of funds' activity (calculated by IRBIS). Funds have been sorted according to their activity starting date on the market. Trends are given in percents relative to the data on October 1, 2001. ------------------------------------------------------------------------------- CPU change in % APR Meaning ----------------------------------------------------- Title Data of of from the beginning of: during last: of activity CPU on ------------------------- --------------------------- fund start Oct01.01 activity 2000 2001 6 months 3 months 1 month ------ -------- --------- -------- ------- -------- -------- -------- --------- SPAF Jan15.98 227.1046 33.47 16.50 15.23 16.64 20.11 33.15 (+2.82) (+2.79) (+8.11) (+18.67) (+32.34) (+60.65) (+156.55) ------ -------- --------- -------- ------- -------- -------- -------- --------- HBK Feb24.98 255.3689 42.13 17.20 14.35 11.89 12.53 13.36 (+1.14) (-0.47) (+0.05) (+0.35) (+6.38) (+10.17) (+10.69) ------ -------- --------- -------- ------- -------- -------- -------- --------- Umit Mar13.98 243.1108 39.51 17.91 13.36 13.14 11.50 13.54 (+1.15) (-0.42) (-0.03) (+1.30) (+1.79) (+5.42) (+25.73) ------ -------- --------- -------- ------- -------- -------- -------- --------- VTF Mar20.98 259.6397 44.14 17.97 14.94 15.67 11.75 12.12 (+1.03) (-0.70) (-0.54) (-1.09) (+1.99) (+7.26) (+2.09) ------ -------- --------- -------- ------- -------- -------- -------- --------- HPF Mar22.98 228.5836 35.61 18.46 14.49 13.51 11.29 11.06 (+0.94) (-0.71) (-0.99) (-1.70) (-5.39) (-6.51) (-7.92) ------ -------- --------- -------- ------- -------- -------- -------- --------- Kunaev Mar24.98 261.8673 45.73 17.93 14.47 13.44 12.15 9.95 (+0.84) (-1.06) (-1.29) (-2.61) (-5.21) (-6.44) (-16.45) ------ -------- --------- -------- ------- -------- -------- -------- --------- Kazmys Apr19.98 255.6083 43.99 16.68 13.76 12.75 13.98 11.08 (+0.94) (-0.88) (-0.68) (-1.24) (-4.01) (-4.27) (-6.68) ------ -------- --------- -------- ------- -------- -------- -------- --------- UlUm Apr20.98 243.8203 40.92 17.65 15.41 13.41 12.28 10.02 (+0.85) (-1.00) (-1.22) (-3.00) (-7.24) (+0.54) (-24.20) ------ -------- --------- -------- ------- -------- -------- -------- --------- Kaz-n Apr28.98 248.7011 43.67 17.63 15.77 11.91 12.15 10.92 (+0.93) (-0.97) (-0.90) (-2.48) (+1.22) (+0.94) (-24.57) ------ -------- --------- -------- ------- -------- -------- -------- --------- NGD Jun07.98 205.8075 37.31 16.98 15.70 13.47 13.16 11.01 (+0.94) (-1.21) (-0.76) (-2.37) (-3.31) (+2.08) (-21.57) ------ -------- --------- -------- ------- -------- -------- -------- --------- Kurmet Jan01.99 177.2613 28.95 16.22 14.40 13.97 12.83 11.75 (+1.00) (-0.94) (-0.33) (-1.07) (+0.28) (+2.76) (-23.58) ------ -------- --------- -------- ------- -------- -------- -------- --------- ААКMG Mar03.99 136.8417 16.10 16.80 13.72 13.32 10.85 0.56 (+0.05) (-3.54) (-4.43) (-9.78) (-11.82) (-31.42) (-95.31) ------ -------- --------- -------- ------- -------- -------- -------- --------- SENIM Jul20.99 128.3839 14.78 15.34 15.26 14.27 15.06 11.01 (+0.93) (-0.24) (-0.43) (-2.16) (+1.15) (-6.09) (-2.64) ------ -------- --------- -------- ------- -------- -------- -------- --------- Korgau Dec01.99 104.2126 7.39 - - - 9.12 9.26 (+0.79) (+5.45) (+6.05) (-6.45) ------------------------- ------------------------- --------------------------- It's better to make conclusions about effectiveness of activity of APF (more precisely PAMC) based not on absolute value of CPU but its speed of change since the absolute value of the unit depends on operating tern of the fund. Due to this reason IRBIS agency operates in table with the speed of the change of CPU in different periods, expressed in percents APR. The indicator for each period is determined as a difference between the last and first values of CPU divided by first value, expressed in percents, then divided by number of days in the period and multiplied by 365. According to IRBIS analysts, derived parameter can be considered as a nominal (without taking into account inflation) yield of fund assets during period for the depositor. The following detailed table enables to observe dynamics of above described change indicator of CPU (% APR) in monthly sector during 2001.The data have been sorted alphabetically. ---------------------------------------------------------------------------- Fund Jan Feb March April May June July August Sept Oct ------ ----- ------ ------ ------ ------ ----- ------------- ------ ------ ААКMG 18.42 11.68 13.46 11.48 18.50 14.14 10.75 11.04 15.38 11.75 VTF 13.97 6.44 17.34 12.24 19.14 11.57 11.82 9.86 10.77 13.54 SPAF 13.66 13.62 10.14 10.19 12.97 13.19 11.10 13.16 12.92 33.15 Kazmys 17.96 12.80 13.92 14.11 13.30 16.82 12.37 14.24 11.90 9.95 Kaz-n 13.02 27.55 12.25 15.96 13.78 18.38 9.83 13.29 13.21 10.02 Korgau 17.21 16.01 18.16 9.99 12.37 12.33 13.82 22.24 11.31 11.01 Kunaev 19.10 12.14 11.94 15.44 15.98 16.00 13.35 10.51 12.01 11.06 Kurmet 12.46 30.02 15.11 13.61 12.61 16.87 10.23 14.02 14.04 11.01 HBK 26.00 16.75 14.83 9.28 11.55 10.85 10.00 11.76 12.07 13.36 NGD 14.72 47.84 9.91 10.07 11.68 11.39 10.59 10.76 14.48 10.92 PAF 15.50 11.61 12.90 10.29 28.84 17.58 9.81 10.93 11.88 12.12 SENIM 15.64 16.04 10.93 10.37 15.89 14.70 14.93 19.93 11.90 0.56 UlUm 16.61 13.22 12.52 14.13 12.66 7.44 12.89 18.44 11.88 11.08 Umit 16.51 20.53 13.64 24.75 11.38 11.31 10.10 10.53 - - PMK - - - - 3.12 8.64 7.74 8.03 9.90 9.26 ---------------------------------------------------------------------------- For simplicity, following abbreviations have been used in the table: Umit - APF Umit CJSC; VTF - PAPF Valut-tranzit fund CJSC; Kunaev - PAPFOT after Kunaev CJSC; HPF - OAPF Halyk Pension Fund CJSC; Kaz-n - PAPF Kazakhstan CJSC; HBK - APF Halyk Bank of Kazakhstan; Kazmys - APF Kazakhmys CJSC; UlUm - up to Oct 10,01 OAPF Ular CJSC, on October 1 - OAPF UlarUmit CJSC; NGD - PAPF NefteGas-Dem; Kurmet - POAPF Kurmet; AAKMG - APF ABN AMRO - KaspiiMunaiGas CJSC; SENIM - OAPF SENIM CJSC; Korgau - APF Korgau CJSC; PMK - KAPF Philip Morris Kazakhstan CJSC; SAPF - State Accumulative Pension Fund CJSC; "-" - the data is absent because of no fund activity. The information is published as of being valuable for all participants of Kazakhstan pension reform. Taking into account sharp reaction of companies managing pension assets (PAMC) and PAF on previous publications of IRBIS of this theme, specialists of agency do not comment on data given in tables. It's worth to mention great growth of parameters of State APF which started showing fair potential of its portfolio and according to year results may become one of leading based on indicators of assets yields. Total amount of pension contributions including transfers of pension assets from one fund to another on November 01, 2001 according to data of Committee accounted for KZT156.4bn. In the amount of pension contributions mandatory pension payments accounts for KZT118.7bn, voluntary - KZT130.3m. At that, all non-state APF have voluntary pension contributions except Phillip Morris Kazakhstan CAPF CJSC. A number of depositors of APF transferring mandatory pension contributions totaled on November 01,2001 4,431,378 people, voluntary - 20,987 people. According to data of the Committee, on November 01, 2001 penalties for not in time transfer of mandatory pension contributions reached KZT141.4m having increased in comparison with previous month by 3 million. Received investment revenues by the beginning of November accounted for KZT43.8bn. For October of current year this parameter was KZT4.1bn while for September - only KZT0.3bn.