According to the National Bank's data the amount of net pension assets in Kazakhstan is $1,903.6 m by the beginning of April of 2003

/IRBIS, April 16, 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 April 1, 2003 to KZT288,393.7 m or $1,903.6 m at the weighted average stock exchange's rate determined on this date. Comparable indicator by March 1, 2003 was KZT281,104.4 m or $1,842.1 m. In March accumulative pension funds' (APF) net assets increased by 2.6% in tenge and by 3.3% - in currency. In February of 2003 assets increased by 1.6% in tenge and by 3.3% - in currency. By the beginning of April of 2003 total sum of PA was KZT288,511.7 m, KZT286,484.3 m of them were invested. In all within March of 2003 eight 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 as of April 1. In parentheses stakes of funds and PAMC as of March 1 of 2003 are given for comparison. --------------------------------------------------------------------------- Total assets --------- ------------- Net % of all pension PA of Name of PAMC / APF assets Volume Kazakhstan Invested --------------------------------------------------------------------------- PAMC ABN AMRO ASSET MANAGEMENT CJSC --------------------------------------------------------------------------- КAPF Phillip Morris Kazakhstan CJSC 704.8 706.0 0.24 (0.24) 705.5 APF CAPITAL CJSC 1,089.2 1,089.2 0.38 (0.28) 1,064.1 PAF ABN AMRO CJSC- KaspiyMunai Gas 20,434.4 20,436.1 7.08 (7.09) 20,387.6 ------------------------------- --------- --------- ------------- --------- Total 22,228.3 22,231.3 7.71 (7.61) 22,157.2 ------------------------------- --------- --------- ------------- --------- PAMC ZHETYSU CJSC --------------------------------------------------------------------------- APF Ular Umyt CJSC 48,081.2 48,052.6 16.66 (16.75) 47,791.2 APF Kazakhmys CJSC 9,173.5 9,178.0 3.18 (3.21) 9,145.7 ONAPF Nefte-Gas Dem CJSC 6,948.1 6,948.7 2.41 (2.40) 6,912.5 ------------------------------- --------- --------- ------------- --------- Total 64,202.8 64,179.2 22.24 (22.35) 63,849.4 ------------------------------- --------- --------- ------------- --------- The company of Halyk Bank of Kazakhstan on pension assets management CJSC --------------------------------------------------------------------------- APF of Halyk Bank of Kazakhstan CJSC 66,165.5 66,155.7 22.93 (22.85) 65,825.3 OAPF OTAN CJSC 3,761.3 3,761.5 1.30 (1.23) 3,754.3 ------------------------------- --------- --------- ------------- --------- Total 69,926.8 69,917.3 24.23 (24.08) 69,579.6 ------------------------------- --------- --------- ------------- --------- PAMC Ak niet CJSC --------------------------------------------------------------------------- APF Korgau CJSC 4,303.5 4,305.1 1.49 (1.46) 4,297.6 NAPF named Kunayev CJSC 891.2 891.3 0.31 (0.31) 887.6 ------------------------------- --------- --------- ------------- --------- Total 5,194.7 5,196.4 1.80 (1.77) 5,185.2 ------------------------------- --------- --------- ------------- --------- PAMC BTA Asset Management CJSC --------------------------------------------------------------------------- NAPF Kazakhstan CJSC 7,948.6 7,961.2 2.76 (2.73) 7,937.4 NOAPF Kurmet CJSC 12,125.6 12,134.7 4.21 (4.17) 12,131.3 ------------------------------- --------- --------- ------------- --------- Total 20,074.2 20,095.9 6.97 (6.90) 20,068.8 ------------------------------- --------- --------- ------------- --------- NPAMC Activ-Invest CJSC --------------------------------------------------------------------------- NNP Valut-tranzit fund CJSC 9,115.0 9,124.3 3.16 (3.06) 8,884.4 ------------------------------- --------- --------- ------------- --------- Total 9,115.0 9,124.3 3.16 (3.06) 8,884.4 ------------------------------- --------- --------- ------------- --------- PAMC BESTINVEST CJSC --------------------------------------------------------------------------- APF SENIM CJSC 13,693.8 13,711.2 4.75 (4.78) 13,497.8 ------------------------------- --------- --------- ------------- --------- Total 13,693.8 13,711.2 4.75 (4.78) 13,497.8 ------------------------------- --------- --------- ------------- --------- PAMC NURTRUST CJSC --------------------------------------------------------------------------- APF Narodniy pensionniy fond CJSC 5,612.9 5,627.1 1.95 (1.89) 5,617.1 ------------------------------- --------- --------- ------------- --------- Total 5,612.9 5,627.1 1.95 (1.89) 5,617.1 ------------------------------- --------- --------- ------------- --------- State accumulative pension fund CJSC (SAPF) 78,345.2 78,429.0 27.19 (27.55) 77,644.8 ------------------------------- --------- --------- ------------- --------- TOTAL pension assets 288,393.7 288,511.7 100.0 286,484.3 --------------------------------------------------------------------------- The biggest APF by the end of February (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 (27.2% of all PA in management). The second one is the Company of Halyk Bank of Kazakhstan on pension assets management (24.2%). On the third place is PAMC ZHETYSU (22.3%). APF KAPITAL CJSC has the highest speed of assets increase in March (36.47% in tenge and 37.46% 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 KZT1,887.8 m). The second place belongs to APF UlarUmit CJSC (growth by KZT989.0 m), then SAPF CJSC (growth by KZT936.1 m). Invested assets on financial instruments as of April 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) - 11.31% (11.51%; 14.24%); - eurobonds of Kazakhstan sovereign debt (USD) - 19.95% (20.72%; 22.15%); - short-term domestic GS of the Ministry of Finance and the National Bank (KZT) - 17.50% (16.17%; 10.99%); - bonds of domestic executive bodies of Kazakhstan (USD) - 0.42% (0.43%; 0.45%); - shares of foreign issuers (foreign currencies) - 1.01% (1.11%; 1.14%); - corporate bonds of foreign issuers (foreign currencies) - 3.19% (1.87%; 3.01%); - foreign states' securities - 2.66% (4.07%; 3.56%); - securities of international financial organizations (foreign currencies) - 6.51% (6.47%; 7.23%); - Kazakhstan companies' shares - 4.07% (4.05%; 4.02%); - Kazakhstan companies' bonds - 23.94% (24.42%; 24.83%); - Deposits and deposit certificates (KZT) - 8.74% (8.45%; 7.64%); - Deposits and deposit certificates (foreign currencies) - 0.71% (0.72%; 0.76%). It follows from the mentioned date that in March pension assets managers preferred investments into the National Bank's notes, corporate bonds of foreign issuers and tenge deposits of domestic banks. Bonds international financial organizations were popular in some degree. Judging on the data, which comes to IRBIS agency, during purchasing of foreign securities, bonds, which were issued in different currencies, except American (Australian and Canadian dollars, Hungarian forints, Polish zlotys, Swiss crowns etc.) were preferred. Stake of securities of the Ministry of finance in portfolios of APF continues to fall mainly due to their redemption. The stake of PA, which as of April 1 were invested into instruments, which had been issued in foreign currencies or indexed on changing of the rate of KZT relative to USD, equaled on the whole pension system to 58.39%. As of March 1 corresponding figure was 59.82%. [2003-04-16]