According to AFN's data the amount of net pension assets in Kazakhstan as of August 1, 2004 is $3,120.2 m.
/IRBIS, Sergey Yakovlev, Andrey Tsalyuk, August 17, 04/ - According to the data of Kazakhstan agency for regulation and supervision of financial market and financial organizations (AFN) 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 August 1, 2004 to KZT 425,247.1 m. or $3,120.2 m. at the weighted average stock exchange's rate determined on that date. Comparable indicator as of July 1 of 2004 was KZT 415,230.0 m. or $3,053.4 m.
In July of 2004 accumulative pension funds' (APF) net assets increased by 2.4% in tenge and by 2.2% in terms of dollar. In June of 2004 assets increased by 2.3% in tenge and by 2.8% - in terms of dollar.
By the beginning of August total sum of PA was KZT 425,488.5 m., KZT 423,580.4 m. of them were invested.
Within July, 2004 8 organizations, which carried out investment management of pension assets (OCIMPA) and 16 APF were functioning in the country. PAMC Ak niet CJSC - had no assets to manage. Two funds - APF Halyk Bank of Kazakhstan CJSC and SAPF, which actually are the same as OCIMPA - managed assets by themselves. Stake of PA under these funds' management, reached by the beginning of August of the current year 47.3% of all PA of the republic (as of July 1 this indicator was 47.6%).
The table below characterizes assets volumes of each fund (KZT m. unless otherwise specified) and distribution of assets of APF on OCIMPA as of August 1, 2004. In parentheses stakes of funds and OCIMPA as of July 1 of 2004 are given for comparison.
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Total assets
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Net % of all
pension PA of
Name of PAMC / APF assets Volume Kazakhstan Invested
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PAMC ABN AMRO ASSET MANAGEMENT CJSC
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КAPF Phillip Morris Kazakhstan JSC 913 914 0.21(0.21) 914
APF KAPITAL JSC 4,048 4,052 0.95(0.89) 4,028
PAF ABN AMRO JSC-KaspiyMunai Gas 30,283 30,317 7.13(7.12) 30,260
----------------------------------- ------- ------- ------------ --------
Total 35,244 35,283 8.29(8.22) 35,202
----------------------------------- ------- ------- ------------ --------
PAMC ZHETYSU JSC
----------------------------------------------------------------------------- APF Ular Umyt CJSC 74,682 74,759 17.57(17.44) 74,618 Total 74,682 74,759 17.57(17.44) 74,618 ----------------------------------- ------- ------- ------------ --------
PAMC BTA Asset Management CJSC
----------------------------------------------------------------------------- PAPF Kazakhstan JSC 12,400 12,415 2.92(2.92) 12,292 POAPF Kurmet JSC 17,970 17,991 4.23(4.22) 17,869 OAPF OTAN JSC 7,484 7,493 1.76(1.74) 7,261 ----------------------------------- ------- ------- ------------ -------- Total 37,854 37,899 8.91(8.87) 37,422 ----------------------------------- ------- ------- ------------ --------
NPAMC Activ-Invest CJSC
----------------------------------------------------------------------------- PAP Valut-tranzit fund CJSC 17,780 17,799 4.18(4.13) 17,720 ----------------------------------- ------- ------- ------------ -------- Total 17,780 17,799 4.18(4.13) 17,720 ----------------------------------- ------- ------- ------------ --------
PAMC BESTINVEST CJSC
----------------------------------------------------------------------------- APF SENIM CJSC 18,724 18,738 4.40(4.43) 18,643 APF Korgau JSC 6,228 6,237 1.47(1.45) 5,925 OPAPF Nefte-Gas Dem CJSC 10,892 10,903 2.56(2.56) 10,874 ----------------------------------- ------- ------- ------------ -------- Total 35,844 35,879 8.43(8.44) 35,442 ----------------------------------- ------- ------- ------------ --------
PAMC NURTRUST CJSC
----------------------------------------------------------------------------- APF Narodniy pensionniy fond JSC 9,587 9,598 2.26(2.22) 9,534 ----------------------------------- ------- ------- ------------ -------- Open-ended PAPF named after D.A. Kunayev JSC 1,163 1,163 0.27(0.27) 1,142 ----------------------------------- ------- ------- ------------ -------- Total 10,749 10,761 2.53(2.49) 10,676 ----------------------------------- ------- ------- ------------ --------
OCIMPA ALFA-TRUST JSC
----------------------------------------------------------------------------- APF Kazakhmys JSC 11,697 11,691 2.75(2.78) 11,654 ----------------------------------- ------- ------- ------------ -------- Total 11,697 11,691 2.75(2.78) 11,654 ----------------------------------- ------- ------- ------------ --------
APF, which independently manages its assets
----------------------------------- ------- ------- ------------ -------- APF of Halyk Bank of Kazkahstan JSC 106,033 106,117 24.94(24.77) 105,768 State accumulative pension fund CJSC (SAPF) 95,364 95,300 22.40(22.84) 95,078 ----------------------------------- ------- ------- ------------ -------- Total 201,397 201,417 47.34(47.62) 200,845 ----------------------------------- ------- ------- ------------ -------- TOTAL pension assets 425,247 425,489 100.0 423,580 -----------------------------------------------------------------------------
The biggest APF by the end of July by volume of PA (in descending order of PA sum): APF of Halyk Bank of Kazakhstan JSC, SAPF and APF Ular Ymit CJSC.
By the volume of managed assets APF Halyk Bank of Kazakhstan JSC is the leader (24.94% of all PA under management), second place belongs to SAPF (22.40%). The third place belongs to PAMC ZHETYSU JSC (17.57%).
APF KAPITAL JSC has the highest speed of assets increase in July (8.3% in tenge). In absolute expression APF of Halyk Bank of Kazakhstan JSC is leading by the largest sum of assets increase. Its assets increased within the month by KZT 3,207.5 m., APF Ular Umyt CJSC took second place (growth by KZT 2,303.0 m ), while NPF ABN AMRO CaspiiMunaiGas took the third place - (growth by KZT 757.6 m) in this category.
Invested assets on financial instruments as of August 1 of 2004 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, % from full PA):
- mid- and long-term domestic GS of the Ministry of Finance (KZT ) - 13.93% (15.65%; 15.57%);
- eurobonds of Kazakhstan sovereign debt (USD) - 0.80% (0.84%; 0.97%);
- short-term domestic GS of the Ministry of Finance and the National Bank (KZT ) - 38.19% (34.06%; 32.79%);
- bonds of domestic executive bodies of Kazakhstan (USD) - 0.04% (0.04%; 0.18%);
- shares of foreign issuers (foreign currencies) - 1.92% (2.28%; 3.13%);
- corporate bonds of foreign issuers (foreign currencies) - 0.88% (0.73%; 0.74%);
- foreign states' securities - 4.99% (4.18%; 1.62%);
- securities of international financial organizations (foreign currencies) - 0.51% (1.47%; 2.04%);
- Kazakhstan companies' shares - 5.35% (5.13%; 4.63%);
- Kazakhstan companies' bonds - 25.90% (25.30%; 25.84%);
- deposits and deposit certificates (KZT ) - 7.04% (7.53%; 7.67%);
- deposits and deposit certificates (foreign currencies) - 0.00% (0.00%; 0.00%).
Funds on investment accounts and other assets, according to AFN's presented data, as of June 1 totaled 0.45% (2.79%) of total PA, that in monetary terms equals to KZT 1,914.7 (11,589.8) m. tenge.
Within June aggregate pension portfolio recorded minimal changes. On the part of GS of the Finance Ministry and the National Bank these changes reflected situation of a primary market that recorded floatation of short-term notes at lowering yield. Stake of such securities in the portfolio of pension funds is very high and continued to grow in July. Slight growth was registered among such items as investments into shares and bonds of Kazakhstan companies as well as investments into corporate securities of foreign issuers and securities of foreign governments.
[2004-08-17]