The structure of the investment portfolio formed at the expense of the UAPF's retirement assets as of the reporting date is posted on the UAPF's official website in the “Indices” section - “Investment activity”.
Within the framework of the directions approved by the Council for Management of the National Fund of the Republic of Kazakhstan as of 2020, the National Bank of the Republic of Kazakhstan (as a trustee), presented the following main investment directions:
˗ The government securities of the Republic of Kazakhstan issued by the Ministry of Finance of the Republic of Kazakhstan, the current value of which is 5,648.4 billion tenge (43.8% of the total portfolio), the weighted average yield of government securities denominated in tenge forms 8.8% per annum, in US dollars - 4.4% per annum;
˗ The bonds of quasi-governmental organizations of the Republic of Kazakhstan (current value of 1,821.67 billion tenge (14.13%), the weighted average yield on these instruments denominated in tenge is 10.8% per annum, in US dollars - 5.2% per annum;
- The bonds of second tier banks of the Republic of Kazakhstan in the amount of KZT 1,158.49 billion (8.98%). Compared to the year beginning, the share of STB bonds has dropped by 2.1%. The weighted average yield to maturity on bonds of STB RK denominated in tenge amounted to 10.1% per annum, in US dollars - 6.3% per annum;
- The assets under external management in the amount of 816.53 billion tenge (6.33% of the portfolio). The increase of 285.36% compared to January 1, 2020 is due to investments made in accordance with the terms of the mandate during the reporting period.
The assets are also diversified into deposits of foreign and Kazakhstani banks (2.19% and 1.95% of the total portfolio, respectively), deposits of the National Bank of the Republic of Kazakhstan (for 2.58%), shares and depositary receipts of Kazakhstani issuers (share 2, 28%), shares and depository receipts of foreign issuers (0.24%) and other financial instruments on market terms.
The investment portfolio of financial instruments in terms of currencies, in which the financial instruments acquired using the UAPF's retirement assets, are nominated, is presented as follows:
The investments in national currency - 70.91%, in US dollars - 28.9%, in other currencies
- 0.19% of the retirement asset portfolio
The structure of the accrued investment income is as follows:
- Return in the form of remuneration on securities, including the placed deposits and reverse REPO operations of KZT 831.68 billion;
- Income (loss) from mark-to market on securities KZT 85.76 billion;
- Income (loss) from foreign currency revaluation 291.02 billion tenge;
- Income (loss) from other asset revaluation (derivative financial instruments) (5.49) billion tenge;
- Income (loss) on assets under external management 50.25 billion tenge;
- Other incomes made 9.28 billion tenge.
As a result of investment activities, as well as due to volatility of foreign exchange rates and changes in the market value of financial instruments, the amount of accrued investment income since the beginning of 2020 amounted to 1.3 trillion tenge. The return on retirement assets of the UAPF distributed to the accounts of contributors (recipients) since the beginning of 2020 formed 10.92% with a 7.5% inflation.
Photos are from open sources.