According to the National Bank's data the amount of net pension assets in Kazakhstan is $2,034.2 m by the beginning of June of 2003

/IRBIS, June 19, 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 June 1, 2003 to KZT305,966.5 m or $2,034.2 m at the weighted average stock exchange's rate determined on this date. Comparable indicator as of May 1, 2003 was KZT297,035.8 m or $1,957.3 m. In May accumulative pension funds' (APF) net assets increased by 3.0% in tenge and by 3.9% - in currency. In April of 2003 assets increased by 3.0% in tenge and by 3.4% - in currency. By the beginning of June of 2003 total sum of PA was KZT306,408.2 m, KZT301,633.0 m of them were invested. In all within May 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 on PAMC as of June 1. In parentheses stakes of funds and PAMC as of May 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 738 739 0.24(0.25) 734 APF CAPITAL CJSC 1,383 1,383 0.45(0.42) 1,371 PAF ABN AMRO CJSC- KaspiyMunai Gas 21,784 21,807 7.12(7.08) 21,731 ------------------------------------ ------- ------- ------------ -------- ONAPF Nefte-Gas Dem CJSC* 7,542 7,556 2.47(2.42) 7,054 ------------------------------------ ------- ------- ------------ -------- Total 31,447 31,485 10.28(7.75) 30,890 ------------------------------------ ------- ------- ------------ -------- PAMC ZHETYSU CJSC -------------------------------------------------------------------------- APF Ular Umyt CJSC 50,798 50,833 16.59(16.59) 50,752 APF Kazakhmys CJSC 9,429 9,433 3.08(3.14) 9,427 ------------------------------------ ------- ------- ------------ -------- Total 60,227 60,266 19.67(22.15) 60,179 ------------------------------------ ------- ------- ------------ -------- The company of Halyk Bank of Kazakhstan on pension assets management CJSC ------------------------------------ ------- ------- ------------ -------- APF of Halyk Bank of Kazakhstan CJSC 71,397 71,541 23.35(23.13) 71,170 Total 71,397 71,541 23.35(24.46) 71,170 ------------------------------------ ------- ------- ------------ -------- PAMC Ak niet CJSC APF Korgau CJSC 4,611 4,615 1.51(1.50) 4,598 NAPF named Kunayev CJSC 939 939 0.31(0.31) 936 ------------------------------------ ------- ------- ------------ -------- Total 5,550 5,554 1.81(1.81) 5,534 ------------------------------------ ------- ------- ------------ -------- PAMC BTA Asset Management CJSC -------------------------------------------------------------------------- NAPF Kazakhstan CJSC 8,494 8,509 2.78(2.77) 8,486 NOAPF Kurmet CJSC 12,966 12,976 4.23(4.22) 12,955 OAPF OTAN CJSC** 4,124 4,127 1.35(1.33) 4,108 ------------------------------------ ------- ------- ------------ -------- Total 25,584 25,612 8.36(6.99) 25,549 ------------------------------------ ------- ------- ------------ -------- NPAMC Activ-Invest CJSC -------------------------------------------------------------------------- NNP Valut-tranzit fund CJSC 10,169 10,178 3.32(3.24) 10,139 ------------------------------------ ------- ------- ------------ -------- Total 10,169 10,178 3.32(3.24) 10,139 ------------------------------------ ------- ------- ------------ -------- PAMC BESTINVEST CJSC -------------------------------------------------------------------------- APF SENIM CJSC 14,196 14,201 4.63(4.70) 13,998 ------------------------------------ ------- ------- ------------ -------- Total 14,196 14,201 4.63(4.70) 13,998 ------------------------------------ ------- ------- ------------ -------- PAMC NURTRUST CJSC -------------------------------------------------------------------------- APF Narodniy pensionniy fond CJSC 6,027 6,031 1.97(1.97) 6,011 ------------------------------------ ------- ------- ------------ -------- Total 6,027 6,031 1.97(1.97) 6,011 ------------------------------------ ------- ------- ------------ -------- State accumulative pension fund CJSC (SAPF) 81,370 81,539 26.61(26.94) 78,164 ------------------------------------ ------- ------- ------------ -------- TOTAL pension assets 305,967 306,408 100.0 301,633 -------------------------------------------------------------------------- *was served by PAMC ZHETYSU CJSC before; **was served by The company of Halyk Bank of Kazakhstan on pension assets management CJSC. The biggest APF by the end of May (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 (26.6% of all PA in management). The second one is the Company of Halyk Bank of Kazakhstan on pension assets management (23.4%). On the third place is PAMC ZHETYSU (19.7%). APF KAPITAL CJSC has the highest speed of assets increase in April (9.87% in tenge and 9.87% 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 KZT2,778.9 m). The second place belongs to APF UlarUmit CJSC (growth by KZT1,494.9 m), then APF ABN AMRO - CaspiyMunaiGas CJSC (growth by KZT745.4 m). Invested assets on financial instruments as of June 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) - 10.93% (11.12%; 11.31%); - eurobonds of Kazakhstan sovereign debt (USD) - 18.12% (19.23%; 19.95%); - short-term domestic GS of the Ministry of Finance and the National Bank (KZT) - 20.65% (20.24%; 17.50%); - bonds of domestic executive bodies of Kazakhstan (USD) - 0.40% (0.41%; 0.42%); - shares of foreign issuers (foreign currencies) - 0.98% (0.93%; 1.01%); - corporate bonds of foreign issuers (foreign currencies) - 2.90% (3.25%; 3.19%); - foreign states' securities - 3.45% (2.58%; 2.66%); - securities of international financial organizations (foreign currencies) - 5.84% (5.30%; 6.51%); - Kazakhstan companies' shares - 4.05% (4.17%; 4.07%); - Kazakhstan companies' bonds - 23.30% (23.32%; 23.94%); - deposits and deposit certificates (KZT) - 8.73% (8.81%; 8.74%); - deposits and deposit certificates (foreign currencies) - 0.64% (0.64%; 0.71%). As well as in April, in May structure of investments of PA changed minimally. Only the growing degree of PA investment into shortest domestic GS in presence of decrease of popularity of dollar euronotes of the sovereign debt, at whose domestic market there is almost no liquidity, should be called among marked tendencies. Assets controllers did not make any significant actions regarding other instruments. It just should be noted that the significant growth of the stake in aggregated pension securities portfolio of foreign investors, which were issued in various and rather exotic for Kazakhstan currencies - Sweden crowns, Japanese yens and even rands of SAR. Thus, PA controllers diversify currency risks, taking lesions from events of the current year. [2003-06-19]