Incomes coefficient of Kazakhstan pension funds within April of 2002 - April of 2003 according to National Bank's data

/IRBIS, May 28, 03/ - Financial supervision department of the National Bank of Kazakhstan (Department) has calculated coefficients of real and nominal returns of the country's accumulative pension funds (APF) for April of 2002 - April of 2003. Data is presented in the table below. While compiling the table IRBIS agency used information of the National bank on net assets volume of APF (the sum of pension assets excluding liabilities on imposed commission fees, accounts payable on pension payments) as of May 1 of 2002 and May 1 of 2003. Assets have been converted into US dollars at the official National Bank's rate of exchange, which was in effect on the mentioned dates. In parentheses the difference with comparable indicator of one month's prescription is given. --------------------------------------------------------------------------------- Net assets, Coefficient Coefficient m USD Name of of real of nominal As of As of PAMC or APF income k3 income k2 May 1, 03 May 1, 02 ------------------------------------ ----------- ------------ --------- --------- State accumulative pension fund (SAPF) CJSC --------------------------------------------------------------------------------- SAPF 5.65(-0.09) 13.05(-0.30) 526.955 417.668 ------------------------------------ ----------- ------------ --------- --------- Pension assets management company ABN AMRO Asset Management CJSC --------------------------------------------------------------------------------- КNPF Phillip Morris Kazakhstan CJSC 2.84(+1.83) 10.04(+1.76) 4.810 3.080 ABN AMRO-KaspiyMunaiGas APF" CJSC 3.10(-0.05) 10.32(-0.26) 138.778 93.428 APF KAPITAL CJSC -0.87(-) 6.07(-) 8.296 0.524 --------------------------------------------------------------------------------- Pension assets management company ZHETYSU CJSC --------------------------------------------------------------------------------- APF YlarYmit CJSC 3.06(+0.04) 10.28(-0.16) 324.959 235.295 APF Kazakhmys CJSC 2.13(+0.15) 9.28(-0.04) 61.369 48.034 ONAPF NefteGas-Dem CJSC 1.80(+0.03) 8.92(-0.18) 47.345 30.947 ------------------------------------ ----------- ------------ --------- --------- Company of Halyk Bank of Kazakhstan on pension assets management CJSC --------------------------------------------------------------------------------- APF of Halyk Bank of Kazakhstan CJSC 3.17(+0.11) 10.39(-0.09) 452.852 294.646 ONPF OTAN CJSC 1.75(+0.12) 8.87(-0.07) 26.034 3.523 ------------------------------------ ----------- ------------ --------- --------- Pension assets management company Ak niyet CJSC --------------------------------------------------------------------------------- APF Korgau CJSC 0.47(+0.28) 7.50(+0.10) 29.448 17.962 PAPF named by Kunayev D.A. CJSC 1.44(+0.10) 8.55(-0.09) 6.054 3.834 ------------------------------------ ----------- ------------ --------- --------- Pension assets management company BTA Asset Management CJSC --------------------------------------------------------------------------------- NAPF Kazakhstan CJSC 2.64(+0.04) 9.83(-0.16) 54.101 35.840 NOAPF Kurmet CJSC 2.44(+0.03) 9.61(-0.17) 82.572 51.573 --------------------------------------------------------------------------------- Private pension assets management company Activ - Invest CJSC ------------------------------------ ----------- ------------ --------- --------- NNP Valut-Transit Fund CJSC 2.39(+0.05) 9.55(-0.16) 63.348 31.514 --------------------------------------------------------------------------------- Pension assets management company BESTINVEST CJSC --------------------------------------------------------------------------------- APF SENIM CJSC 5.10(+0.25) 12.45(+0.05) 91.934 66.496 ------------------------------------ ----------- ------------ --------- --------- Pension assets management company NUR-TRUST CJSC --------------------------------------------------------------------------------- APF Narodniy pensionniy fond CJSC 3.54(+2.02) 10.79(+1.96) 38.548 23.452 --------------------------------------------------------------------------------- Weighted average coefficient of real income on pension assets of accumulative pension funds mentioned above for April of 2002 - April of 2003 equaled, according to the Department's data, to 2.97% (2.90% and 4.29% for two previous periods in the reverse chronological order correspondingly). According to the Department's data, while calculating this indicator coefficients of SAPF are not taken into account and were never taken into account that was a surprise of analysts of IRBIS. Such the approach of the Department is explained by a specific structure of the portfolio of SAPF, which significantly differs from the structure of other funds' portfolio. Nominal income coefficient (К2), according the Department's methods, reflects the profitability of APF assets calculated by accruing totals. Real income coefficient (К3) - the department's estimation of assets yield including index of consumer prices in Kazakhstan which equaled according to the National Bank's data to 107.0 (107.2; 107.0) for the period. Devaluation of the national currency that is estimated in this period by the stock exchange's weighted average rate of KZT to USD at negative 0.80% (estimation of IRBIS, tenge has strengthened relative to dollar), does not take into account К3. De-facto, investors' assets are protected from devaluation during management by making investing into securities indexed by changing the exchange's rate of KZT to USD, currency securities and into banks' dollar deposits as well. Note: agency IRBIS is not responsible for the accuracy of the data given to the agency as well as for calculation methods correctness of the mentioned above coefficients. [2003-05-28]