According to the National Bank's data the amount of net pension assets in Kazakhstan is $1,787.6 m by the beginning of February of 2003

/IRBIS, February 18, 03/ - According to the data of Department financial supervision 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 February 1, 2003 to KZT276,775.7 m or $1,787.6 m by the weighted average stock exchange's rate determined on this date. Comparable indicator by January 1, 2003 is KZT269,752.4 m or $1,730.8 m. In January accumulative pension funds' (APF) net assets increased by 2.6% in tenge and by 3.3% - in currency. In December of 2002 assets increased by 4.6% in tenge and by 3.9% - in currency. By the beginning of February of 2003 total sum of PA was KZT276,997.9 m, KZT275,506.6 m of them were invested. In all within January of 2003 eight pension assets management companies (PAMC) and 16 APF were functioning in the country. For the first time PAMC NURTRUST CJSC (Almaty) came to the market, which took control of assets of APF "Narodniy pensionniy fond" CJSC (Almaty). The table below characterizes assets volumes of each fund (KZT mil unless otherwise specified) and assets distribution of APF and PAMC as of February 1. In parentheses stakes of funds and PAMC as of January 1 of 2003 are given for comparison. ------------------------------------------------------------------------------- Total assets --------- ------------- Net % of all PA pension of Name of PAMC / APF assets Volume Kazakhstan Invested ------------------------------------------------------------------------------- PAMC ABN AMRO ASSET MANAGEMENT CJSC ------------------------------------------------------------------------------- КAPF Phillip Morris Kazakhstan CJSC 671.5 671.4 0.24 (0.24) 671.2 APF CAPITAL CJSC 653.4 653.4 0.24 (0.23) 653.1 PAF ABN AMRO CJSC- KaspiyMunai Gas 19,517.0 19,522.0 7.05 (7.00) 19,516.1 ------------------------------- --------- --------- ------------- --------- Total 20,841.8 20,846.8 7.53 (9.35) 20,840.4 ------------------------------- --------- --------- ------------- --------- PAMC ZHETYSU CJSC ------------------------------------------------------------------------------- APF Ular Umyt CJSC 47,347.8 47,393.5 17.11 (17.21) 47,286.9 APF Kazakhmys CJSC 8,997.0 9,001.0 3.25 (3.28) 8,994.5 ONAPF Nefte-Gas Dem CJSC 6,635.7 6,651.2 2.40 (2.38) 6,562.5 ------------------------------- --------- --------- ------------- --------- Total 62,980.5 63,045.6 22.76 (22.87) 62,843.9 ------------------------------- --------- --------- ------------- --------- The company of Halyk Bank of Kazakhstan on pension assets management CJSC ------------------------------- --------- --------- ------------- --------- APF of Halyk Bank of Kazakhstan CJSC 63,064.7 63,079.1 22.77 (22.52) 62,891.6 OAPF OTAN CJSC 2,685.4 2,686.1 0.97 (0.96) 2,677.9 ------------------------------- --------- --------- ------------- --------- Total 65,750.1 65,765.2 23.74 (23.48) 65,569.5 ------------------------------- --------- --------- ------------- --------- PAMC Ak niet CJSC APF Korgau CJSC 3,979.6 3,980.3 1.44 (1.45) 3,969.9 NAPF named Kunayev CJSC 834.3 834.5 0.30 (0.30) 829.8 ------------------------------- --------- --------- ------------- --------- Total 4,813.9 4,814.8 1.74 (1.75) 4,799.7 ------------------------------- --------- --------- ------------- --------- PAMC BTA Asset Management CJSC ------------------------------------------------------------------------------- NAPF Kazakhstan CJSC 7,491.9 7,495.4 2.71 (2.72) 7,476.9 NOAPF Kurmet CJSC 11,433.9 11,442.1 4.13 (4.13) 11,417.7 ------------------------------- --------- --------- ------------- --------- Total 18,925.8 18,937.5 6.84 (6.85) 18,894.6 ------------------------------- --------- --------- ------------- --------- NPAMC Activ-Invest CJSC ------------------------------------------------------------------------------- NNP Valut-tranzit fund CJSC 8,043.9 8,049.2 2.91 (2.92) 7,923.7 ------------------------------- --------- --------- ------------- --------- Total 8,043.9 8,049.2 2.91 (2.92) 7,923.7 ------------------------------- --------- --------- ------------- --------- PAMC BESTINVEST CJSC ------------------------------------------------------------------------------- APF SENIM CJSC 13,027.4 13,031.1 4.70 (4.72) 12,999.9 ------------------------------- --------- --------- ------------- --------- Total 13,027.4 13,031.1 4.70 (4.72) 12,999.9 ------------------------------- --------- --------- ------------- --------- PAMC NURTRUST CJSC ------------------------------------------------------------------------------- APF Narodniy pensionniy fond CJSC 5,178.7 5,181.4 1.87 (-) 5,174.7 ------------------------------- --------- --------- ------------- --------- Total 5,178.7 5,181.4 1.87 (-) 5,174.7 ------------------------------- --------- --------- ------------- --------- State accumulative pension fund 76,460.2 CJSC (SAPF) 77,213.5 77,326.2 27.92 (28.05) ------------------------------- --------- --------- ------------- --------- TOTAL pension assets 276,775.7 276,997.9 100.0 275,506.6 ------------------------------------------------------------------------------- The biggest APF by the end of December (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 (27.9% of all PA in management). The second one is the Company of Halyk Bank of Kazakhstan on pension assets management (23.8%). On the third place is PAMC ZHETYSU (22.8%). APF CAPITAL CJSC has the highest speed of assets increase in January (4.75% in tenge and 5.44% in currency expression). In absolute expression APF of Halyk Bank of Kazakhstan CJSC has the biggest sum of assets increase (its assets increased within the month by KZT2,267.3 m). The second place belongs to SAPF (growth by KZT1,564.0 m), then APF UlarUmit CJSC (growth by KZT997.9 m). Invested assets on financial instruments as of February 1 were distributed in the following way (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) - 14.24% (12.54%; 13.60%); - eurobonds of Kazakhstan sovereign debt (USD) - 22.15% (22.76%; 23.47%); - short-term internal GS of the Ministry of Finance and the National Bank (KZT) - 10.99% (12.43%; 10.17%); - bonds of domestic executive bodies of Kazakhstan (USD) - 0.45% (0.44%; 0.48%); - shares of foreign issuers (foreign currencies) - 1.14% (1.15%; 1.08%); - corporate bonds of foreign issuers (foreign currencies) - 3.01% (1.98%; 2.70%); - foreign states' securities - 3.56% (4.92%; 4.16%); - securities of international financial organizations (foreign currencies) - 7.23% (6.75%; 7.32%); - Kazakhstan companies' shares - 4.02% (3.85%; 3.79%); - Kazakhstan companies' bonds - 24.83% (24.33%; 24.43%); - Deposits and deposit certificates (KZT) - 7.64% (7.99%; 8.20%); - Deposits and deposit certificates (foreign currencies) - 0.76% (0.87%; 0.60%). The stake of PA, which as of February 1 had been invested into instruments, which had been issued in foreign currencies (mainly US dollar) or indexed on changing of the rate of KZT relative to USD, equaled on the whole pension system to 63.12%. As of January 1 corresponding figure was 62.51%. The given data on the structure of aggregated pension portfolio is the evidence of the fact that despite tenge's strengthening relative to dollar, PA managers preferred securities, which had been issued in foreign currency. The stake of foreign issuers' corporate bonds and international financial organizations' securities significantly rose in January. Again SAPF was responsible for increase of the stake of mid- and long-term domestic GS of the Ministry of finance (KZT). And continuing falling of the stake of sovereign euronotes of Kazakhstan was caused by overheating of their domestic market and significant falling of dollar's price in tenge. [2003-02-18]