According to the National Bank's data the amount of net pension assets in Kazakhstan equals to $1,573.9m by the beginning of October of 2002

/IRBIS, October 31, 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 October 1, 2002 to KZT243,254.8m or $1,573.9m by the weighted average stock exchange's rate determined on this date. Comparable indicator by September 1, 2002 is KZT235,858.2m or $1,526.3m. In September Accumulative pension funds (APF) net assets increased by 3.1% in tenge and by 3.1% - in currency. In August of 2002 assets increased by 2.8% in tenge and by 2.6% - in currency. By the beginning of October of 2002 total sum of PA was KZT243,482.3m, KZT238,864.5m of them were invested. In all within September 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 % of all pension PA of Invested Name of PAMC / APF assets Volume Kazakhstan ----------------------------------------------------------------------------- PAMC ABN AMRO ASSET MANAGEMENT CJSC ----------------------------------------------------------------------------- КAPF Phillip Morris Kazakhstan CJSC 591.3 591.9 0.2 556.0 AOZT APF Narodniy Pensionniy fond 4,428.7 4,433.9 1.8 4,405.0 APF CAPITAL CJSC 351.0 351.4 0.1 347.7 PAF ABN AMRO CJSC- KaspiyMunai Gas 17,154.7 17,161.7 7.0 16,529.7 ------------------------------------ --------- --------- ---------- --------- Total 22,525.6 22,539.0 9.3 21,838.3 ------------------------------------ --------- --------- ---------- --------- PAMC ZHETYSU CJSC ----------------------------------------------------------------------------- APF Ular Umyt CJSC 41,888.4 41,959.0 17.2 40,886.2 AOZT APF Kazakhmys 8,257.2 8,266.4 3.4 8,203.8 ONAPF Nefte-Gas Dem CJSC 5,705.1 5,710.9 2.3 5,617.9 ------------------------------------ --------- --------- ---------- --------- Total 55,850.7 55,936.2 23.0 54,707.9 ------------------------------------ --------- --------- ---------- --------- The company of Halyk Bank of Kazakhstan on pension assets management CJSC ------------------------------------ --------- --------- ---------- --------- APF of Halyk Bank of Kazakhstan CJSC 53,950.3 53,972.4 22.2 53,777.9 OAPF OTAN CJSC 1,661.7 1,661.8 0.7 1,656.7 ------------------------------------ --------- --------- ---------- --------- Total 55,612.0 55,634.2 22.9 55,434.6 ------------------------------------ --------- --------- ---------- --------- PAMC Ak niet CJSC APF Korgau CJSC 3,396.0 3,398.1 1.4 3,361.6 NAPF named Kunayev CJSC 720.5 720.9 0.3 683.7 ------------------------------------ --------- --------- ---------- --------- Total 4,116.5 4,119.0 1.7 4,045.3 ------------------------------------ --------- --------- ---------- --------- PAMC BTA Asset Management CJSC ----------------------------------------------------------------------------- NAPF Kazakhstan CJSC 6,533.7 6,540.6 2.7 6,511.0 NOAPF Kurmet CJSC 9,791.4 9,793.2 4.0 9,778.9 ------------------------------------ --------- --------- ---------- --------- Total 16,325.0 16,333.8 6.7 16,289.8 ------------------------------------ --------- --------- ---------- --------- AOZT NPAMC Activ-Invest ----------------------------------------------------------------------------- NNP Valyut-tranzit fond CJSC 6,401.6 6,405.5 2.6 6,375.0 ------------------------------------ --------- --------- ---------- --------- Total 6,401.6 6,405.5 2.6 6,375.0 ------------------------------------ --------- --------- ---------- --------- PAMC BESTINVEST CJSC ----------------------------------------------------------------------------- APF SENIM CJSC 11,719.5 11,721.2 4.8 11,705.2 ------------------------------------ --------- --------- ---------- --------- Total 11,719.5 11,721.2 4.8 11,705.2 ------------------------------------ --------- --------- ---------- --------- State accumulative pension fund 68,468.4 CJSC (SAPF) 70,703.9 70,793.5 29.1 ------------------------------------ --------- --------- ---------- --------- TOTAL pension assets 243,254.8 243,482.3 100.0 238,864.5 ----------------------------------------------------------------------------- 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 (29.1% 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 (22.9%). КAPF Phillip Morris Kazakhstan CJSC has the highest speed of assets increase in September (5.12% in tenge and 5.10% in currency expression) (excluding APF CAPITAL CJSC and OAPF OTAN CJSC whose assets being the assets of the youngest fund increase very quickly in tenge - by 17.9% and 18.8% correspondingly). In absolute expression APF of Halyk Bank of Kazakhstan CJSC has the biggest sum of increase (its assets increased within a month by KZT1,985.5m). The second place belongs to SAPF CJSC (growth by KZT1,445.7m), then goes APF UlarYmit CJSC (increase by KZT1,149.2m). Invested assets on financial instruments distributed the following way as of October 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) - 11.54% (12.00%; 12.55%); - eurobonds of Kazakhstan sovereign debt (USD) - 33.40% (35.06%; 35.86%); - short-term GS of the Ministry of Finance and the National Bank (KZT) - 9.67% (9.35%; 7.62%); - bonds of domestic executive bodies of Kazakhstan (USD) - 0.51% (0.52%; 0.54%); - shares of foreign issuers (foreign currencies) - 1.26% (1.01%; 0.70%); - corporate bonds of foreign issuers (foreign currencies) - 1.94% (2.77%; 1.91%); - Foreign states' securities - 4.12% (2.99%; 4.01%); - securities of international financial organizations (foreign currencies) - 4.28% (3.19%; 2.45%); - Kazakhstan companies' shares - 3.93% (3.66%; 3.77%); - Kazakhstan companies' bonds - 20.92% (21,27%; 21,57%); - Deposits and deposit certificates (KZT) - 8.02% (7.66%; 7.76%); - Deposits and deposit certificates (foreign currencies) - 0.42% (0.52%; 1.28%). Judging on the shown data, in September manager of pension assets were conducting restructuring of portfolios mainly increasing the volume of investments into domestic super short instruments (National Bank's notes), bonds of foreign states and international financial organizations (IFO). At this, notes were used as the "instrument of waiting" before redemption of sovereign Kazakhstan euronotes, and bonds of foreign states and IFO attracted PAMC due to their high investment quality. Interest in eurobonds of foreign corporate issuers significantly decreased, and some growth of the part of Kazakhstan companies' shares in pension funds' portfolios was caused by floatation of securities, which had been conducted by Halyk Bank of Kazakhstan OJSC (Almaty). As a whole deformation of the structure of aggregated pension portfolio in September was influenced by the change by National Bank of limits of PA investing, and also restructuring of funds' portfolios, which was caused by redemption on October 2 of Kazakhstan euronotes of the sovereign debt of the second issue. [2002-10-31]