According to the National Bank's data the amount of net pension assets in Kazakhstan is $1,526.3m by the beginning of September of 2002

/IRBIS, September 20, 02/ - According to the data of Department on securities market regulation of the National Bank of Kazakhstan (the Department) amount of the net pension assets (PA) in the country (amount of pension assets excluding liabilities on the charged commissions, accounts payable on pension payments) equaled by September 1, 2002 to KZT235,858.2m or $1,526.3m by the weighted average stock exchange's rate determined on this date. Comparable indicator by August 1, 2002 is KZT229,462.4m or $1,486.9m. In August Accumulative pension funds (APF) net assets increased by 2.8% in tenge and by 2.6% - in currency. In July of 2002 assets increased by 3.4% in tenge and by 3.7% - in currency. By the beginning of August of 2002 total sum of PA was KZT236,075.0m, KZT233,649.4m of them were invested. In all within August of 2002 seven pension assets management companies (PAMC) and 16 APF were functioning in the country. The table below characterizes assets volumes of each fund (KZT mil unless otherwise specified) and assets distribution of APF and PAMC. ---------------------------------------------------------------------------- Total assets --------- --------- Net Share in pension the total Invested Name of PAMC / APF assets Volume volume, % ---------------------------------------------------------------------------- PAMC ABN AMRO ASSET MANAGEMENT CJSC ---------------------------------------------------------------------------- КAPF Phillip Morris Kazakhstan CJSC 562.5 562.9 0.2 560.9 AOZT APF Narodniy Pensionniy fond 4,289.0 4,293.6 1.8 4,270.4 APF CAPITAL CJSC 297.7 297.9 0.1 280.9 PAF ABN AMRO CJSC- KaspiyMunai Gas 16,519.0 16,524.9 7.0 16,515.0 ------------------------------------ --------- --------- --------- --------- Total 21,668.2 21,679.3 9.2 21,627.2 ------------------------------------ --------- --------- --------- --------- PAMC ZHETYSU CJSC ---------------------------------------------------------------------------- APF Ular Umyt CJSC 40,739.1 40,791.6 17.3 40,260.3 AOZT APF Kazakhmys 8,057.7 8,069.2 3.4 8,064.7 ONAPF Nefte-Gas Dem CJSC 5,523.5 5,527.9 2.3 5,515.5 ------------------------------------ --------- --------- --------- --------- Total 54,320.4 54,388.7 23.0 53,840.5 ------------------------------------ --------- --------- --------- --------- The company of Halyk Bank of Kazakhstan on pension assets management CJSC ------------------------------------ --------- --------- --------- --------- APF of Halyk Bank of Kazakhstan CJSC 51,964.8 51,999.8 22.0 51,499.5 OAPF OTAN CJSC 1,399.3 1,400.7 0.6 1,287.5 ------------------------------------ --------- --------- --------- --------- Total 53,364.1 53,400.5 22.6 52,787.0 ------------------------------------ --------- --------- --------- --------- PAMC Ak niet CJSC ---------------------------------------------------------------------------- NAPF named Kunayev CJSC 695.1 695.3 0.3 690.2 ------------------------------------ --------- --------- --------- --------- Total 695.1 695.3 0.3 690.2 ------------------------------------ --------- --------- --------- --------- PAMC BTA Asset Management CJSC ---------------------------------------------------------------------------- NAPF Kazakhstan CJSC 6,308.7 6,315.2 2.7 6,290.7 NOAPF Kurmet CJSC 9,415.9 9,417.9 4.0 9,409.2 ------------------------------------ --------- --------- --------- --------- Total 15,724.5 15,733.1 6.7 15,699.9 ------------------------------------ --------- --------- --------- --------- AOZT NPAMC Activ-Invest ---------------------------------------------------------------------------- NNP Valyut-tranzit fond CJSC 6,103.4 6,106.0 2.6 6,014.2 APF Korgau CJSC 3,274.0 3,275.1 1.4 3,266.8 ------------------------------------ --------- --------- --------- --------- Total 9,377.5 9,381.1 4.0 9,280.9 ------------------------------------ --------- --------- --------- --------- PAMC BESTINVEST CJSC ---------------------------------------------------------------------------- APF SENIM CJSC 11,450.3 11,456.4 4.9 11,386.1 ------------------------------------ --------- --------- --------- --------- Total 11,450.3 11,456.4 4.9 11,386.1 ------------------------------------ --------- --------- --------- --------- State accumulative pension fund 68,337.5 CJSC (SAPF) 69,258.1 69,340.7 29.4 ------------------------------------ --------- --------- --------- --------- TOTAL pension assets 235,858.2 236,075.0 100.0 233,649.4 ---------------------------------------------------------------------------- The biggest APF by the end of August (in descending order of PA sum): SAPF, APF of Halyk Bank of Kazakhstan CJSC and APF Ular Ymit CJSC By the volume of managed assets SAPF is still the leader at pension market (29.4% of all PA in management). The second one is still PAMC ZHETYSU (23.0%). On the third place is the Company of Halyk Bank of Kazakhstan on pension assets management (22.6%). NNP Valyut-tranzit fond CJSC still has the biggest assets increase in August (4.7% in tenge and 4.60% in currency expression) (excluding APF CAPITAL CJSC and OAPF OTAN CJSC whose assets being the assets of the youngest fund increase very quickly in percentage). In absolute expression APF of Halyk Bank of Kazakhstan CJSC has the biggest sum of increase (its assets increased within a month by KZT1,549.2m). The second place belongs to APF UlarYmit CJSC (growth by KZT1,133.5m), then goes SAPF CJSC (increase by KZT1,122.3m). Invested assets on financial instruments distributed the following way as of September 1 (with the purpose of clearness of tendencies in parentheses data for two previous months given in reverse chronological order) - mid- and long-term domestic GS of the Ministry of Finance(KZT) - 12.00% (12.55%; 12.04%); - eurobonds of Kazakhstan sovereign debt (USD) - 35.06% (35.86%; 37.10%); - short-term GS of the Ministry of Finance and the National Bank (KZT) - 9.35% (7.62%; 8.90%); - bonds of domestic executive bodies of Kazakhstan (USD) - 0.52% (0.54%; 0.55%); - corporate securities of foreign issuers (foreign currencies) - 1.01% (0.70%; 0.51%); - government securities of foreign issuers (foreign currencies) - 2.77% (1.91%; 1.36%) - securities of international financial organizations (foreign currencies) - 3.19% (2.45%; 2.53%); - Kazakhstan companies' shares - 3.66% (3.77%; 3.52%); - Kazakhstan companies' bonds - 21,27% (21,57%; 21,24%); - Deposits and deposit certificates (KZT) - 7.66% (7.76%; 4.53%); - Deposits and deposit certificates (foreign currencies) - 0.52% (1.28%; 4.51%). The given data allow to distinguish some tendencies in the evolution of the structure of aggregated pension portfolio of the Republic. PA management still decrease the part of investments into euronotes of Kazakhstan. This happens mainly because of sale of bonds of the second issue, which the Ministry of finance will redeem in the beginning of October. The released money partially "circulate" at repo market (unfortunately, the National Bank still does not distinguish instruments of this sector in a separate column), partially work on super short notes of the National Bank and partially are invested into foreign issuers' securities. The dynamics of the general part of the latter in APF portfolios are characterized nearby 9.96% (9.07%; 7.80%). Lately bonds of MOF as the most reliable are popular among foreign issuers' securities. Besides, increasing part of foreign corporate bonds attract attention. There is still careful attitude towards shares of foreign PAMC because of recent falling of the world money markets. However in September their partих in the aggregated portfolio of APF is to significantly increase, judging on the information, which comes to IRBIS. [2002-09-20]