FSA: as of May 1, 2005 net pension assets of Kazakhstan reached $4,030.9 m.

/IRBIS, Assel Omarova, Andrey Tsalyuk, May 31, 05/ - Kazakhstan Agency for financial market and financial organizations regulation and supervision (FSA) released data on total amount of net pension assets (PA) in the republic (total pension assets excluding obligations on charged commission fees, pension payment debts) as of May 1, 2005 reached KZT530,508.3 m. or $4,030.9 m. at the weighted average exchange's rate effective on the mentioned date. Corresponding indicators as of April 1 of 2005 - KZT518,512.2 m. or $3,913.0 m. In April of 2005 net assets of accumulative pension funds (APF) increased by 2.31% in tenge and by 3.01% in dollar equivalent. In March of 2005 assets increased by 2.67% in tenge and by 0.89% in dollar equivalent. By the beginning of May of 2005 total sum of PA was KZT531,217.0 m., of them KZT518,561.3 m. were invested. Within April 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 Kyrmet-Kazakhstan JSC, which are actually also PAIMO, controlled pension assets independently. Stake of PA, which were controlled by these funds, by the beginning of May of 2005 totaled 53.57% of all PA of the republic (as of April 1 this indicator was 53.64%). The table below presents volumes of assets of each fund (KZT m., unless otherwise indicated) and distribution of APF assets by PAIMO as of May 1 of 2005. Figures in parentheses give the same picture as of April 1 of 2005. ------------------------------------------------------------------------------ Total assets ---------------------- Net % of all PA pension of Name of PAMC / APF assets Volume Kazakhstan Invested ------------------------------------------------------------------------------ PAIMO ABN AMRO Asset Management JSC ------------------------------------------------------------------------------ APF ABN AMRO-KaspiyMunai Gas JSC 38,671 38,723 7.29 (7.29) 38,670 APF Kapital JSC 6,616 6,627 1.25 (1.21) 6,607 ----------------------------------- ------- ------- ------------- -------- Total 45,287 45,350 8.54 (8.50) 45,278 ----------------------------------- ------- ------- ------------- -------- PAIMO Bailyk Asset Management JSC ------------------------------------------------------------------------------ PAPF of open type named after 1,604 1,607 0.30 (0.29) 1,596 Kunayev JSC APF NefteGas-Dem CJSC 13,772 13,798 2.60 (2.59) 13,760 OAPF SENIM JSC 22,862 22,909 4.31 (4.30) 22,658 APF Korgau JSC 7,867 7,869 1.48 (1.50) 7,768 ----------------------------------- ------- ------- ------------- -------- Total 46,106 46,183 8.69 (8.68) 45,782 ----------------------------------- ------- ------- ------------- -------- PAIMO Premier Asset Management JSC ------------------------------------------------------------------------------ OAPF OTAN JSC 9,807 9,823 1.85 (1.84) 9,807 ----------------------------------- ------- ------- ------------- -------- Total 9,807 9,823 1.85 (1.84) 9,807 ----------------------------------- ------- ------- ------------- -------- PAIMO Activ-Invest JSC ------------------------------------------------------------------------------ PP Valut-tranzit Fund JSC 23,562 23,591 4.44 (4.42) 23,365 ----------------------------------- ------- ------- ------------- -------- Total 23,562 23,591 4.44 (4.42) 23,365 ----------------------------------- ------- ------- ------------- -------- PAIMO ALFA-TRUST JSC ------------------------------------------------------------------------------ APF Kazakhmys JSC 13,942 13,964 2.63 (2.65) 13,883 ----------------------------------- ------- ------- ------------- -------- Total 13,942 13,964 2.63 (2.65) 13,883 ----------------------------------- ------- ------- ------------- -------- PAIMO ZHETYSU JSC ------------------------------------------------------------------------------ APF UlarUmyt CJSC 95,293 95,399 17.96 (17.95) 95,230 Total 95,293 95,399 17.96 (17.95) 95,230 ----------------------------------- ------- ------- ------------- -------- PAIMO Nur-Trust JSC ------------------------------------------------------------------------------ OAPF Narodniy pensionniy fond JSC 12,315 12,336 2.32 (2.33) 12,309 ----------------------------------- ------- ------- ------------- -------- Total 12,315 12,336 2.32 (2.33) 12,309 ----------------------------------- ------- ------- ------------- -------- APF, operating as pension assets management companies independently ----------------------------------- ------- ------- ------------- -------- APF SAPF JSC 111,563 111,638 21.02 (21.23) 111,127 APF BTA Kurmet-Kazakhstan JSC 38,296 38,351 7.22 (7.22) 38,204 APF of Halyk Bank of Kazakhstan JSC 134,339 134,582 25.33 (25.20) 123,576 ----------------------------------- ------- ------- ------------- -------- Total 284,197 284,571 53.57 (53.65) 272,907 ----------------------------------- ------- ------- ------------- -------- TOTAL pension assets 530,508 531,217 100.0 518,561 ------------------------------------------------------------------------------ The biggest APF by the end of April by volume of net 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 (25.3% of all PA in management), second place belongs to SAPF (21.0%), the third place - PAIMO ZHETYSU JSC (18.0%). The highest assets growth rate (5.65% in tenge) in April was recorded in APF Kapital JSC. In absolute monetary terms the leader is APF Halyk Bank of Kazakhstan JSC. Its assets increased within the month by KZT3,698.3 m. The second gainer is APF UlarUmit CJSC (growth by KZT2,237.7 m.; the third one - APF SAPF JSC (growth by KZT1,424.0 m.). Distribution of investment assets by financial instruments as of May 1, 2005 is as following (figures in parentheses display data for previous two months in reverse chronological order, % are given out of full PA): - long-term domestic GS of the Ministry of Finance (KZT ) - 22.64% (19.92%; 19.84%); - eurobonds of Kazakhstan sovereign debt (USD) - 0.48% (0.49%; 0.50%); - short-term domestic GS of the Ministry of Finance and the National Bank (KZT) - 22.34% (28.16%; 30.05%); - bonds of domestic municipal authorities of Kazakhstan (USD) - 0.03% (0.03%; 0.03%); - shares of foreign issuers (foreign currencies) - 1.46% (1.39%; 1.43%); - corporate bonds of foreign issuers (foreign currencies) - 0.44% (0.44%; 0.39%); - foreign states securities - 1.80% (1.83%; 0.46%); - securities of international financial organizations (foreign currencies) - 0.59% (0.65%; 0.68%); - Kazakhstan companies' shares - 6.36% (6.05%; 6.12%); - Kazakhstan companies' bonds - 28.69% (28.37%; 27.41%); - deposits and deposit certificates (KZT) - 12.77% (12.07%; 11.30%); - deposits and deposit certificates (foreign currencies) - 0.00% (0.00%; 0.00%); - refined gold - 0.00% (0.00%; 0.00%); - stakes of Kazakhstan investment funds - 0.00% (0.00%; 0.00%); - stakes of foreign investment funds - 0.02% (0.02%; 0.03%). As it's seen from the data, nothing unexpected occurred on the pension market in April. Most notable tendency is "lengthening" of pension portfolio due to investments into MEUJKAM and MEOKAM with simultaneous falling of the stake of investments into National Bank's notes. Another interesting thing is the continued growth of the stake of Kazakhstan banks' deposits in pension portfolio, which was the result of reexamining of terms of deposits (from one year to three years), into which PA of APF can be invested. One more notable tendency is growth of pension market subjects' interest in shares and bonds of Kazakhstan companies, which was provoked by growth of issuing activity of latter ones in this year's spring. An interesting fact is absence of stable interest of PA managers in investments into foreign securities despite stoppage of consolidation of tenge against dollar in year 2005. [2005-05-31]