The National Bank of Kazakhstan has announced that pension savings amounting to $5.18bn have been gradually transferred abroad to be managed by 10 foreign companies. According to representatives of the bank, this amount is only 14.1% of the Unified National Pension Fund’s (EPPF) total assets.
Last month $2.3m from the fund was transferred to the American investment company PIMCO — short for Pacific Investment Management Company.
The National Bank held a tender process in 2023 to select the foreign companies PIMCO and TCW as external managers for the global emerging-market bonds mandate, and JP Morgan was selected as the standby manager. Currently, agreements on investment management of pension assets of the EPPF are being developed with these companies.
At present, foreign asset managers continue to be attractive resources for EPPF in terms of investing its currency portfolio of assets under the mandates termed global shares, global emerging-market bonds, and global investment-grade corporate bonds.
