Kazakh National Fund’s investment portfolio to be diversified
Baku, Azerbaijan, Sept. 28
By Ali Mustafayev – Trend:
Investment portfolio of the National Fund of Kazakhstan will include gold, alternative and long-term portfolios, Kazinform reports.
President Nursultan Nazarbayev signed a decree on Sept. 22 making changes to the “Decree on Approval of Concept of the New Budget Policy of the Republic of Kazakhstan”, dated June 26, 2013.
According to the decree, further use of the National Fund should ensure the stable development of the economy and the safety of its assets as well as reducing the dependence of the budget on oil revenues.
Meanwhile, given the existing risks in the global economy, the accumulation of assets in the National Fund will continue through the limited use of revenues from the oil sector.
Moreover, transfers from the National Fund must pass through the republican budget in line with budgetary procedures.