Kazakh National Bank Plans To Place USPFs Currency Assets On Western Markets

Kazakhstan to enable Clearstream for govt securities in 2018

The currency assets of the Uniform Saving Pension Funds are planned to be placed on the western markets, said Daniyar Akishev, chairman of the National Bank of Kazakhstan.

“We plan to place the USPFs currency on the western markets under those principles which we use to invest the funds of the National Fund and the gold currency reserves of the National Bank,” said D. Akishev at the press conference.
“A world famous external manager comes to us, he gets the reserves, he manages them, his interest is low due to big volume. We will add the USPF’s currency here and our citizens just benefit from it,” he added.

He said last year 500 bn tenge were invested into the currency in USPF.

“We invested 500 bn tenge into currency for USPF last year, this year we plan to buy more and reach up to 30% in foreign currency. Unfortunately it had not been done before although we had opportunities. Now we think we shouldn’t waste time to provide balanced portfolio diversification on all the types of tools and currencies,” he said.