According to the National Bank's data the amount of net pension assets in Kazakhstan is $1,615.6m by the beginning of November of 2002

/IRBIS, November 19, 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 November 1, 2002 to KZT249,475.0m or $1,615.6m by the weighted average stock exchange's rate determined on this date. Comparable indicator by October 1, 2002 is KZT243,254.8m or $1,573.9m. In October Accumulative pension funds' (APF) net assets increased by 2.6% in tenge and by 2.7% - in currency. In September of 2002 assets increased by 3.1% in tenge and by 3.1% - in currency. By the beginning of November of 2002 total sum of PA was KZT249,625.5m, KZT244,524.1m of them were invested. In all within October 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 615.1 615.4 0.3 613.4 AOZT APF Narodniy Pensionniy fond 4,578.0 4,582.4 1.8 4,408.3 APF CAPITAL CJSC 412.2 412.3 0.2 408.7 PAF ABN AMRO CJSC- KaspiyMunai Gas 17,570.5 17,576.1 7.0 17,284.5 ------------------------------------ --------- --------- --------- --------- Total 23,175.8 23,186.3 9.3 22,715.0 ------------------------------------ --------- --------- --------- --------- PAMC ZHETYSU CJSC -------------------------------------------------------------------------------- APF Ular Umyt CJSC 42,760.6 42,792.1 17.1 42,713.5 AOZT APF Kazakhmys 8,413.5 8,419.0 3.4 8,411.6 ONAPF Nefte-Gas Dem CJSC 5,874.9 5,878.0 2.4 5,866.4 ------------------------------------ --------- --------- --------- --------- Total 57,049.0 57,089.1 22.9 56,991.5 ------------------------------------ --------- --------- --------- --------- The company of Halyk Bank of Kazakhstan on pension assets management CJSC ------------------------------------ --------- --------- --------- --------- APF of Halyk Bank of Kazakhstan CJSC 55,679.3 55,708.1 22.3 55,515.7 OAPF OTAN CJSC 1,938.2 1,939.7 0.8 1,933.9 ------------------------------------ --------- --------- --------- --------- Total 57,617.5 57,647.8 23.1 57,449.6 ------------------------------------ --------- --------- --------- --------- PAMC Ak niet CJSC APF Korgau CJSC 3,527.4 3,529.0 1.4 3,516.3 NAPF named Kunayev CJSC 748.5 748.8 0.3 742.0 ------------------------------------ --------- --------- --------- --------- Total 4,275.9 4,277.8 1.7 4,258.3 ------------------------------------ --------- --------- --------- --------- PAMC BTA Asset Management CJSC -------------------------------------------------------------------------------- NAPF Kazakhstan CJSC 6,755.0 6,760.8 2.7 6,735.8 NOAPF Kurmet CJSC 10,141.6 10,142.8 4.1 10,119.2 ------------------------------------ --------- --------- --------- --------- Total 16,896.6 16,903.6 6.8 16,855.0 ------------------------------------ --------- --------- --------- --------- AOZT NPAMC Activ-Invest -------------------------------------------------------------------------------- NNP Valyut-tranzit fond CJSC 6,854.6 6,861.6 2.7 6,754.3 ------------------------------------ --------- --------- --------- --------- Total 6,854.6 6,861.6 2.7 6,754.3 ------------------------------------ --------- --------- --------- --------- PAMC BESTINVEST CJSC -------------------------------------------------------------------------------- APF SENIM CJSC 11,978.1 11,979.7 4.8 11,885.0 ------------------------------------ --------- --------- --------- --------- Total 11,978.1 11,979.7 4.8 11,885.0 ------------------------------------ --------- --------- --------- --------- State accumulative pension fund 67,615.4 CJSC (SAPF) 71,627.4 71,679.6 28.7 ------------------------------------ --------- --------- --------- --------- TOTAL pension assets 249,475.0 249,625.5 100.0 244,524.1 -------------------------------------------------------------------------------- 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 (28.7% of all PA in management). The second one is the Company of Halyk Bank of Kazakhstan on pension assets management (23.1%). On the third place is PAMC ZHETYSU (22.9%). NNP Valyut-tranzit fond CJSC still has the biggest assets increase in October (7.08% in tenge and 7.17% 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 athe month by KZT1,729.0m). The second place belongs to SAPF CJSC (growth by KZT923.6m), then goes APF UlarUmit CJSC (growth by KZT872.2m). Invested assets on financial instruments distributed the following way as of November 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) - 12.26% (11.54%; 12.00%); - eurobonds of Kazakhstan sovereign debt (USD) - 25.15% (33.40%; 35.06%); - short-term GS of the Ministry of Finance and the National Bank (KZT) - 10.57% (9.67%; 9.35%); - bonds of domestic executive bodies of Kazakhstan (USD) - 0.50% (0.51%; 0.52%); - shares of foreign issuers (foreign currencies) - 1.18% (1.26%; 1.01%); - corporate bonds of foreign issuers (foreign currencies) - 4.98% (1.94%; 1.94%); - foreign states' securities - 4.12% (4.12%; 2.99%); - securities of international financial organizations (foreign currencies) - 5.15% (4.28%; 3.19%); - Kazakhstan companies' shares - 3.89% (3.93%; 3.66%); - Kazakhstan companies' bonds - 24.25% (20,92%; 21,27%); - Deposits and deposit certificates (KZT) - 7.53% (8.02%; 7.66%); - Deposits and deposit certificates (foreign currencies) - 0.40% (0.42%; 0.52%). As regards the end of September the structure of aggregated pension portfolio of the country had changes, which were caused, first of all, by redemption of Kazakhstan euronotes of the second issue. It caused sharp decrease of the part of this type of securities in general portfolio. Different funds used the received money in different ways. SAPF, which was unable to invest money into corporate issuers' securities, preferred domestic securities of the Ministry of finance and National Bank of Kazakhstan, and due to it their share in the aggregated portfolio of all APF significantly increased. Private APF, as it was expected, invested money mainly into corporate bonds of foreign issuers, using extended limit, which had been formed while decreasing of requirements for credit ratings, bonds of international financial organizations (as most reliable and liquid) and Kazakhstan corporate bonds (mainly euronotes of Kazkommerts International B.V.). On other positions changes are insignificant. [2002-11-19]