AFN: as of December 1, 2004 net pension assets of Kazakhstan reached $3,587.9 m.

/IRBIS, Sergey Yakovlev, Andrey Tsalyuk, December 15, 04/ -According to Kazakhstan Agency for Regulation and Supervision of Financial Markets and Financial Organizations (AFN) total amount of net pension assets (PA) in the republic (sum of pension assets minus obligations including: commission fees, pension payment debts) as of December 1, 2004 reached KZT466,429.8 m or $3,587.9 m at the weighted average stock exchange's rate effective on mentioned date. Corresponding indicators in November 01, 2004 - KZT454,968.0 m. or $3,449.6 m. In November 2004 net assets of accumulative pension funds (APF) increased 2.5% in tenge and by 4.0% in dollar equivalent. In October 2004 assets increased 2.1% in tenge and 4.0% in dollar equivalent. By the beginning of December total sum of PA was KZT466,734.2 m, of them KZT462,007.5 m were invested. Within November, there were 7 companies conducting pension assets investment management activity (PAMC) and 16 accumulative pension funds. Two funds - APF Halyk Bank of Kazakhstan JSC and State Accumulative Pension Fund JSC (SAPF) also operated as investment management companies, managed pension assets independently. Stake of PA in management of these funds was at the beginning of December 2004 47.01% from all PA of the republic (on November 1 this indicator equaled to 47.07%). The table below presents volumes of assets of each funds (KZT m, unless otherwise indicated) and distribution of APF assets by PAMC as of December 1, 2004. Figures in parentheses give the same picture as of November 1, 2004. ------------------------------------------------------------------------- Total assets --------------------- Net % of all PA pension of Name of PAMC / APF assets Volume Kazakhstan Invested ------------------------------------------------------------------------- PAIMC ABN AMRO ASSET MANAGEMENT JSC ------------------------------------------------------------------------- КAPF Phillip Morris Kazakhstan JSC 955 955 0.20 (0.21) 940 APF KAPITAL JSC 4 900 4 905 1.05 (1.03) 4 899 APF ABN AMRO-CaspiyMunai Gas JSC 33 283 33 319 7.14 (7.13) 33 279 ---------------------------------- ------- ------- ------------- -------- Total 39 138 39 179 8.39 (8.37) 39 118 ---------------------------------- ------- ------- ------------- -------- PAMC ZHETYSU JSC ------------------------------------------------------------------------- APF Ular Umyt CJSC 82 342 82 362 17.65 (17.61) 81 750 ------------------------------------------------------------------------- Total 82 342 82 362 17.65 (17.61) 81 750 ---------------------------------- ------- ------- ------------- -------- PAIMC Premier Asset Management JSC ------------------------------------------------------------------------- PAPF Kazakhstan JSC 13 788 13 828 2.96 (2.95) 13 489 POAPF Kurmet JSC 19 956 19 977 4.28 (4.27) 19 518 OAPF OTAN JSC 8 377 8 377 1.79 (1.78) 7 712 ---------------------------------- ------- ------- ------------- -------- Total 42 120 42 182 9.04 (9.00) 40 718 ---------------------------------- ------- ------- ------------- -------- NPAMC Activ-Invest CJSC ------------------------------------------------------------------------- NPF Valut-tranzit Fund JSC 19 937 19 942 4.27 (4.26) 19 882 ---------------------------------- ------- ------- ------------- -------- Total 19 937 19 942 4.27 (4.26) 19 882 ---------------------------------- ------- ------- ------------- -------- PAMC Bailyk Asset Management JSC ------------------------------------------------------------------------- PAPF JSC Kunayev of open type 1 265 1 265 0.27 (0.27) 1 257 APF SENIM JSC 20 024 20 014 4.29 (4.35) 19 724 APF Korgau JSC 6 973 6 975 1.49 (1.48) 6 938 OPAPF Nefte-Gas Dem CJSC 11 965 11 966 2.56 (2.56) 11 927 ---------------------------------- ------- ------- ------------- -------- Total 40 227 40 220 8.62 (8.66) 39 846 ---------------------------------- ------- ------- ------------- -------- PAMC NURTRUST CJSC ------------------------------------------------------------------------- APF Narodniy pensionniy fond JSC 10 821 10 820 2.32 (2.30) 10 813 ---------------------------------- ------- ------- ------------- -------- Total 10 821 10 820 2.32 (2.30) 10 813 ---------------------------------- ------- ------- ------------- -------- PAMC ALFA-TRUST JSC ------------------------------------------------------------------------- APF Kazakhmys JSC 12 617 12 621 2.70 (2.73) 12 496 ---------------------------------- ------- ------- ------------- -------- Total 12 617 12 621 2.70 (2.73) 12 496 ---------------------------------- ------- ------- ------------- -------- APF, operating as pension assets management companies ---------------------------------- ------- ------- ------------- -------- APF Halyk Bank of Kazakhstan JSC 116 381 116 396 24.94 (25.00) 115 755 State accumulative pension fund 22.07 (22.07) JSC (SAPF) 102 847 103 012 101 628 ---------------------------------- ------- ------- ------------- -------- Total 219 228 219 408 47.01 (47.07) 217 384 ---------------------------------- ------- ------- ------------- -------- TOTAL pension assets 466 430 466 734 100.0 462 007 ------------------------------------------------------------------------- The biggest APF by the end of November by volume of PA (in descending order of PA sum): APF Halyk Bank of Kazakhstan JSC, SAPF and APF Ular Ymit CJSC. By the volume of managed assets APF Halyk Bank of Kazakhstan JSC retained leadership (24.9% of total assets), second place belongs to SAPF (22.1%). The third place - PAMC ZHETYSU JSC (17.7%). The highest rate of assets accumulation (4.6% in tenge) in November was recorded in APF KAPITAL JSC. In absolute money terms the leader is APF Halyk Bank of Kazakhstan JSC. Its assets increased within the month by KZT2,558.3 m. The second gainer is SAPF (growth by KZT2,538.7 m), the third - APF UlarUmyt CJSC (growth by KZT2,165.0 m. Distribution of investment assets by financial instruments as of December 1, 2004 is following (figures in parentheses display data for previous two months, % are given out of gross pension assets): - mid- and long-term domestic GS of the Ministry of Finance (KZT ) - 15.23% (15.98%; 16.43%); - eurobonds of Kazakhstan sovereign debt (USD) - 0.54% (0.58%; 0.74%); - short-term domestic GS of the Ministry of Finance and the National Bank (KZT) - 35.01% (32.38%; 33.34%); - bonds of local municipal authorities of Kazakhstan (USD) - 0.03% (0.04%; 0.04%); - shares of foreign issuers (foreign currencies) - 1.51% (2.04%; 1.95%); - corporate bonds of foreign issuers (foreign currencies) - 0.28% (0.65%; 0.65%); - foreign government securities - 3.97% (3.86%; 3.52%); - securities of international financial organizations (foreign currencies) - 0.16% (0.76%; 1.35%); - Kazakhstan companies' shares - 5.72% (5.78%; 5.86%); - Kazakhstan companies' bonds - 25.9% (26.42%; 26.60%); - deposits and deposit certificates (KZT ) - 10.62% (10.63%; 8.99%); - deposits and deposit certificates (foreign currencies) - 0.00% (0.00%; 0.00%). According to AFN data, as of December 1, 2004, funds on investment accounts and other assets totaled 1.02% (0.88%) or KZT 4,760.7 (4,006.6 m) of total pension assets. This information allows to single out some new tendencies in investing pension assets in November. Managing PA were forced to increase investment stake in notes of the National Bank and try all ways to avoid to invest in instruments, issued in foreign currency. Along with this bank deposits the same popular, and investment stake of shares and bonds of Kazkahstan issuers continue to fall. [2004-12-15]