OREANDA-NEWS. On March 16, 2009 Astana-Finance (Astana), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

Astana-Finance is planning to acquire 50.65 % voting stock of Accumulative Pension Fund UlarUmit and 100 % voting stock of Organization for pension assets investment management Zhetysu - managing pension assets of the Fund.

Astana-Finance has been for 2 years a trust manager of the pension fund. APF UlarUmit currently is one of the largest pension funds complying with norms of the authorized agency, and also may not only cover, but provide stable payment and formation of investment income.

In case of becoming a shareholder of the UlarUmit fund, Astana-Finance is planning to implement measures to boost financial standings of the fund through additional financial injections into its authorized capital, which will help the fund a leading position on the Kazakhstan market.

So far Astana-Finance has submitted to the authorized agency (AFS) an application to concord the status of a large shareholder of the fund. The deal will be executed upon accord of the authorized agency.

All actions of current shareholders and Astana-Finance are aimed at stabilization of financial standings of the pension fund, which will be positive for the entire pension system financial market of Kazakhstan.