/IRBIS, June 9, 03/ - By the official letter dated May 28 of 2003, which was
signed by deputy chairman of the National Bank of Kazakhstan Anvar Saidenov,
the National Bank has recommended to accumulative pension funds (APF) and
organizations, which conduct activity on investment management of pension
assets (PAMC), to make valuation of securities portfolios on their market cost
since June 1 of 2003.
As follows from the letter, the innovation is included in accordance with
switching of APF and PAMC to international accounting standards in order to set
order of determination of justice cost of securities, which are in own (at the
arte of minimal reserve capital) and investment portfolios of APF and PAMC.
APF and PAMC have been recommended to make valuation of:
- government securities (GS) of Kazakhstan and corporate securities (CS) of
Kazakhstan issuers - in the order, which has been set by Methods of
securities valuation (Methods), which has been confirmed by the decision of
the Board of Kazakhstan stock exchange CJSC (KASE) dated February 19 of
2003, by the end of the first working day of the week (Methods have been set
in operation since March 25 of 2003 by the decision of KASE's Board dated
March 20 of 2003 - note of IRBIS);
- bonds of foreign issuers and GS of foreign states - at average price of
demand and offer according to data of information system BLOOMBERG at
09:00 of Almaty time of the first working day of the week;
- shares of foreign issuers - at weighted average price of deal for the last
working day of the week, which precedes the reporting week, according to the
data of information system BLOOMBERG.
It's recommended to make valuation and revaluation of securities, which are in
own (at the arte of minimal reserve capital) and investment portfolios of APF
and PAMC every week by the end of the first working day of the week. At that,
financial instruments, which have been bought by organizations and funds within
the period between the second and the last working day inclusive, are valuated
at prices, which have been set by the end of the first working day of the week,
in the end of the day, which follows the day of registration.
The letter also says that results of securities valuation, which has been made
in compliance with this letter, are published every week in the end of the
first working day of the week in the home page of official electronic
representatives of KASE in the Internet (www.kase.kz) at
http://www.kase.kz/files/val.xls.
[2003-06-09]