FSA: as of April 1, 2005 net pension assets of Kazakhstan reached $3,913.0 m.

/IRBIS, Sergey Yakovlev, Andrey Tsalyuk, April 28, 05/ - Kazakhstan Agency for financial market and financial organizations regulation and supervision (FSA) says amount of net pension assets (PA) in the republic (total pension assets excluding obligations on charged commission fees, pension payment debts) as of April 1, 2005 reached KZT518,512.2 m. or $3,913.0 m. at the weighted average exchange's rate effective on mentioned date. Corresponding indicators as of March 1 of 2005 - KZT505,019.1 m. or $3,878.5 m. In March of 2005 net assets of accumulative pension funds (APF) increased by 2.67% in tenge and by 0.89% in dollar equivalent. In February of 2005 assets increased by 1.81% in tenge and by 1.68% in dollar equivalent. At the beginning of April of 2005 total sum of PA was KZT519,525.3 m., of them KZT516,561.0 m. were invested. Within March of 2005 there were 7 specialized companies conducting pension assets investment management activity (PAIMO) and 14 accumulative pension funds. Three funds - APF Halyk Bank of Kazakhstan JSC, State accumulative pension fund JSC (SAPF) and Accumulative pension fund BTA Kurmet-Kazakhstan JSC, which are actually also PAIMO, controlled pension assets independently. Stake of PA, which were controlled by these funds, at the beginning of April of 2005 was 53.6% of all PA of the republic (as of March 1 this indicator was 53.8%). The table below presents volumes of assets of each funds (KZT m., unless otherwise indicated) and distribution of APF assets by PAIMO as of April 1 of 2005. Figures in parentheses give the same picture as of March 1 of 2005. ----------------------------------------------------------------------------- Total assets --------------------- Net % of all PA pension of Name of PAIMO / APF assets Volume Kazakhstan Invested ----------------------------------------------------------------------------- PAIMO ABN AMRO Asset Management JSC ----------------------------------------------------------------------------- APF KAPITAL JSC 6,262 6,277 1.21(1.16) 6,261 APF ABN AMRO-CaspiyMunai Gas JSC 37,788 37,861 7.29(7.31) 37,403 ----------------------------------- ------- ------- ------------ -------- Total 44,050 44,138 8.50(8.46) 43,664 ----------------------------------- ------- ------- ------------ -------- PAIMO ZHETYSU JSC ----------------------------------------------------------------------------- APF Ular Umyt CJSC 93,055 93,240 17.95(17.90) 93,166 Total 93,055 93,240 17.95(17.90) 93,166 ----------------------------------- ------- ------- ------------ -------- PAIMO Premier Asset Management JSC ----------------------------------------------------------------------------- OAPF OTAN JSC 9,525 9,543 1.84(1.83) 9,513 ----------------------------------- ------- ------- ------------ -------- Total 9,525 9,543 1.84(1.83) 9,513 ----------------------------------- ------- ------- ------------ -------- PAIMO Activ-Invest JSC ----------------------------------------------------------------------------- PAP Valut-tranzit Fund JSC 22,876 22,937 4.42(4.35) 22,728 ----------------------------------- ------- ------- ------------ -------- Total 22,876 22,937 4.42(4.35) 22,728 ----------------------------------- ------- ------- ------------ -------- PAIMO Bailyk Asset Management JSC ----------------------------------------------------------------------------- PAPF of open type named after 1,527 1,531 0.29(0.29) 1,515 Kunayev JSC OAPF SENIM JSC 22,296 22,344 4.30(4.31) 22,130 APF Korgau JSC 7,752 7,776 1.50(1.48) 7,731 OPAPF Nefte-Gas-Dem CJSC 13,415 13,443 2.59(2.59) 13,405 ----------------------------------- ------- ------- ------------ -------- Total 44,990 45,095 8.68(8.67) 44,781 ----------------------------------- ------- ------- ------------ -------- PAMC NURTRUST CJSC ----------------------------------------------------------------------------- OAPF Narodniy pensionniy fond JSC 12,072 12,094 2.33(2.34) 12,084 ----------------------------------- ------- ------- ------------ -------- Total 12,072 12,094 2.33(2.34) 12,084 ----------------------------------- ------- ------- ------------ -------- PAIMO ALFA-TRUST JSC ----------------------------------------------------------------------------- APF Kazakhmys JSC 13,742 13,767 2.65(2.67) 13,694 ----------------------------------- ------- ------- ------------ -------- Total 13,742 13,767 2.65(2.67) 13,694 ----------------------------------- ------- ------- ------------ -------- APF, operating as pension assets management companies independently ----------------------------------- ------- ------- ------------ -------- APF of Halyk Bank of Kazakhstan JSC 130,640 130,897 25.20(25.07) 130,165 APF BTA Kurmet-Kazakhstan JSC 37,423 37,526 7.22(7.26) 37,303 APF SAPF JSC 110,139 110,286 21.23(21.44) 109,463 ----------------------------------- ------- ------- ------------ -------- Total 278,202 278,709 53.65(53.77) 276,931 ----------------------------------- ------- ------- ------------ -------- TOTAL pension assets 518,512 519,525 100.0 516,561 ----------------------------------------------------------------------------- The biggest APF by the end of February 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 (25.2% of all PA under management), second place belongs to SAPF (21.2%), the third place - PAIMO ZHETYSU JSC (17.95%). The highest assets growth rate (6.81% in tenge) in March was recorded in APF CAPITAL JSC. In absolute monetary terms the leader is APF Halyk Bank of Kazakhstan JSC. Its assets increased within the month by KZT4,188.0 m. The second gainer is APF UlarUmit CJSC (growth by KZT2,744.8 m.; the third one - SAPF (growth by KZT1,890.3 m.). Distribution of investment assets by financial instruments as of March 1, 2005 is following (figures in parentheses display data for previous two months in reverse chronological order, % are given out of gross PA): - mid- and long-term domestic GS of the Ministry of Finance (KZT ) - 19.92% (19.84%; 17.87%); - eurobonds of Kazakhstan sovereign debt (USD) - 0.49% (0.50%; 0.51%); - short-term domestic GS of the Ministry of Finance and the National Bank (KZT) - 28.16% (30.05%; 33.02%); - bonds of local municipal authorities of Kazakhstan (USD) - 0.03% (0.03%; 0.03%); - shares of foreign issuers (foreign currencies) - 1.39% (1.43%; 1.42%); - corporate bonds of foreign issuers (foreign currencies) - 0.44% (0.39%; 0.36%); - foreign states securities - 1.83% (0.46%; 0.85%); - securities of international financial organizations (foreign currencies) - 0.65% (0.68%; 0.67%); - Kazakhstan companies' shares - 6.05% (6.12%; 6.04%); - Kazakhstan companies' bonds - 28.37% (27.41%; 27.46%); - deposits and deposit certificates (KZT) - 12.07% (11.30%; 10.74%); - deposits and deposit certificates (foreign currencies) - 0.00% (0.00%; 0.00%); - refined gold - 0.00% (0.00%; 0.00%); - stakes of Kazakhstan unit funds - 0.00% (0.00%; 0.00%); - stakes of foreign unit funds - 0.02% (0.03%; 0.02%). According to FSA data, as of April 1 of 2005, funds on investment accounts and other assets totaled 0.58% (1.01%; 0.72%) of total pension assets. As was forecast by IRBIS analysts month ago, the most notable tendency at pension assets market was increasing investments in form of bank deposits after the regulator softened permitted maturity requirements from three months to a year. It should be noted also that pension assets managers also eye medium-, and long- term domestic government securities issued by Finance Ministry as the latter resumed issuing activity lately. Corporate bonds are also in the field of interest to APFs, with yields rising gradually due to growing inflation rate. [2005-04-28]