Baku, Azerbaijan, April 24
Trend:
Profitability of pension savings of Kazakhtan's Unified Accumulative Pension Fund (UAPF) amounted to 11.5 percent in the period from April 2018 to March 2019, Trend reports citing UAPF.
The Fund also reported on the amount of losses as a result of reevaluation of foreign currency assets.
“Based on the fact that inflation did not increase by over 4.8 percent, the actual profitability of pension savings accounts for 6.7 percent. Since the beginning of 2019, the total investment income surpassed 112 billion tenge,” reads the message.
"The structure of the investment income for the period from January 2019 to March 2019 is as follows: 152.22 billion tenge accounted for the income in the form of securities compensation, 16.2 billion tenge for the losses as a result of reevaluation of securities, 28.94 billion tenge accounted for the losses as a result of reevaluation of foreign currency assets, 3.16 billion tenge accounted for the earnings as a result of external managing and 2.37 billion tenge accounted for other earnings,” reads the Fund’s statement.
Reportedly, as at April 1, 2019 UAPF’s pension savings reached 9 641 billion tenge.
“Weighted average yield to maturity of financial instruments for the reporting date reached 7 percent per annum, as well as 8.4 percent per annum for tenge-denominated financial instruments and 3.9 percent per annum for foreign-currency-denominated financial instruments. Government securities accounted for the major part of UAPF’s pension assets (40.66 percent). This type of document also proved to be the most stable financial instrument. Weighted average yield to maturity of government securities amounted to 7.2 percent per annum for tenge-denominated securities and 4.4% for dollar-denominated securities,” reads the message.
Reportedly, as of April 1, 2019 Kazakhstan’s quasi-governmental debentures accounted for 13.52 percent of pension assets’ investment portfolio.
“Weighted average yield to maturity of Kazakhstan’s quasi-governmental debentures for the reporting date reached 10.3 percent per annum for tenge-denominated debentures and 5 percent per annum for dollar-denominated debentures. As at April 1, 2019 foreign countries’ securities cost reached 1 506 billion tenge. Weighted average yield to maturity of foreign countries’ securities at the reporting date reached 3.6 percent per annum,” reads the message.
Reportedly, the investment portfolio of financial instruments broken down by denominated currencies looks as follows: tenge-denominated investments account for 67.61 percent, dollar-denominated investments account for 31.97 percent and other-currency-denominated investments account for 0.42 percent of the pension assets’ portfolio.
“UAPF’s pension asset portfolio’s structure meets the requirements of the Fund’s Investment Declaration,” reads the message.