By the data of National Bank net pension assets in early April 2002 - $1,315.0m

16.04.02, 00:00
/IRBIS, Apr 16, 02/ - According to the Stock Market Regulatory Department of the National Bank of Kazakhstan (Department), 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 April 1, 2002 equaled KZT200,413.6m, or $1,315.0m at weighted average rate of the Exchange, effective on that date. A comparable figure for March 1, 2002 was KZT193,879.4m, or $1,274.5m. During March net assets of accumulative pension funds (APF) grew by 3.4% in terms of tenge, and by 3.2% - in currency terms. In February 2002 assets grew by 3.0% and 3.0%, respectively. As of early April 2002 total amount of net PA totaled KZT200,611.6m, from which KZT197,992.7m was invested. There were 7 Pension Assets Management Companies (PAMC) and 15 APF operating in March. A new fund evolved in March under management of PAMC ABN AMRO ASSET MANAGEMENT CJSC - APF CAPITAL CJSC. Also during the month assets of APF Korgau CJSC were transferred under management of NPAMC Aktiv-Invest CJSC. PAMC Ak niet CJSC has no still assets under its control. Table below presents volume of pension assets for each fund and (KZT, m unless otherwise indicated) and distribution of APF assets among PAMC. ------------------------------------------------------------------------------ Total assets ---------- --------- Share in Net pension total PAMC / APF assets Volume volume, % Invested ------------------------------------------------------------------------------ ABN AMRO ASSET MANAGEMENT PAMC CJSC ------------------------------------------------------------------------------ KNPF Philip Morris Kazakhstan CJSC 474.83 474.94 0.2 474.58 Halyk Pension Fund APF JSCOT 3 447.88 3 452.69 1.7 3,439.64 APF CAPITAL CJSC 2.44 2.46 0.0 0.70 ABN AMRO APF -Caspii Munai Gas APF 13,662.66 13,669.39 6.8 13,653.52 ---------------------------------- ----------- ---------- --------- ---------- Total 17,587.81 17,599.47 8.8 17,568.44 ---------------------------------- ----------- ---------- --------- ---------- PAMC JETYSU CJSC ------------------------------------------------------------------------------ UlarUmit APF CJSC 34,863.19 34,915.39 17.4 34,845.63 Kazakhmys APF CJSC 7,169.07 7,174.81 3.6 7,088.13 Nefte-Gas-Dem OPAPF CJSC 4,506.07 4,513.71 2.2 4,462.45 ---------------------------------- ----------- ---------- --------- ---------- Total 46,538.33 46,603.91 23.2 46,396.21 ---------------------------------- ----------- ---------- --------- ---------- Halyk Bank Kazakhstan pension assets management company CJSC ---------------------------------- ----------- ---------- --------- ---------- Halyk Bank Kazakhstan APF CJSC 43,271.84 43,316.60 21.6 42,127.03 OTAN PAPF CJSC 364.33 364.71 0.2 358.34 ---------------------------------- ----------- ---------- --------- ---------- Total 43,636.17 43,681.31 21.8 42,485.37 ---------------------------------- ----------- ---------- --------- ---------- BTA Asset Management PAMC CJSC ------------------------------------------------------------------------------ Kazakhstan NAPF CJSC 5,255.65 5,261.55 2.6 5,246.77 Kurmet NOAPF CJSC 7,520.64 7,521.77 3.7 7,516.10 ---------------------------------- ----------- ---------- --------- ---------- Total 12,776.30 12,783.32 6.4 12,762.87 ---------------------------------- ----------- ---------- --------- ---------- Aktiv-Invest PAMC CJSC ------------------------------------------------------------------------------ Korgau APF CJSC 2,607.57 2,608.89 2.3 2,595.41 Valut-Transit Fund NNP CJSC 4,553.17 4,554.93 0.3 4,395.21 Kunayev NNPF CJSC 569.37 570.44 1.3 558.10 ---------------------------------- ----------- ---------- --------- ---------- Total 7,730.11 7,734.25 3.9 7,548.71 ---------------------------------- ----------- ---------- --------- ---------- BESTINVEST PAMC CJSC ------------------------------------------------------------------------------ SENIM APF CJSC 9,875.36 9,876.50 4.9 9,857.40 ---------------------------------- ----------- ---------- --------- ---------- Total 9,875.36 9,876.50 4.9 9,857.40 ---------------------------------- ----------- ---------- --------- ---------- State accumulative pension fund CJSC (SAPF) 62,269.54 62,332.87 31.1 61,373.69 ---------------------------------- ----------- ---------- --------- ---------- Total of pension assets 200,413.61 200,611.63 100.0 197,992.69 ------------------------------------------------------------------------------ The largest APF at the end of February are: SAPF, Halyk Bank of Kazakhstan APF CJSC and UlarUmit APF CJSC. SAPF is still a leader by the volume of managed assets at pension market (31.1% of all PA under control). The second place still belongs to JETYSU PAMC (23.2% of all managed PA). The third - Halyk Bank of Kazakhstan PAMC (21.8%). APF Korgau CJSC demonstrated the biggest assets growth rates (6.2% in terms of tenge and 6.0% in currency terms) in March (excluding OTAN OAPF CJSC, whose assets are growing very fast in percentage terms as the youngest fund). In absolute value assets of Halyk Bank of Kazakhstan APF CJSC have the highest growth (its assets have grown for the month by KZT1,629.9m). The second place belongs to UlarUmit APF CJSC (growth by KZT1,293.4m). Invested assets were distributed among financial instruments as follows (for trend showing, the figures for two previous months in reverse chronological order are given in parentheses): - mid- and long-term domestic GS of the Ministry of Finance (KZT) - 12.53% (12.93%; 11.86%); - eurobonds of the sovereign debt of Kazakhstan (USD) - 40.33% (41.56%; 43.26%); - short-term domestic GS of the Ministry of Finance and the National Bank (KZT) - 6.71% (5.95%; 6.34%); - municipal bonds of local executive bodies of Kazakhstan (USD) - 0.60% (0.62%; 0.63%); - securities of foreign issuers (foreign currency) - 3.63% (3.63%; 2.95%); - government securities of foreign issuers - 0.58% (0.47%); - securities of supranationals - IFO (foreign currency) - 3.58% (3.57%; 3.82%); - shares of Kazakhstani companies - 2.77% (2.85%; 2.93%); - bonds of Kazakhstani companies - 21.19% (20.31%; 20.21%); - deposits and certificates of deposit (KZT) - 4.08% (3.52%; 3.06%); - deposits and certificates of deposit (foreign currency) - 4.00% (4.59%; 4.94%). The most noticeable tendencies of March in pension market are continued decline of a share of sovereign Kazakhstan debt euronotes, growth of a share of the national bank notes (SAPF), still indifferent attitude of NAPF to the shares of Kazakhstan's companies, increase of shares of deposits in tenge (SAPF). Interesting feature of the period is a noticeable increase in NAPF portfolios of volume of bonds of domestic corporate issuers that is mainly a consequence of primary floatation of bonds of Development Bank of Kazakhstan CJSC. On the other hand, the same tendency assisted overheating of corporate bonds market and its stagnation that has been noticed last time. [2002-04-16]