Accumulative Pension Fund GRANTUM Discloses Y2011 Operating Results
OREANDA-NEWS. February 14, 2012. JSC "Accumulative pension fund GRANTUM joint-stock company (Subsidiary of Kazkommertsbank JSC)" (Almaty), a member of Kazakhstan Stock Exchange (KASE) stock market, provided today KASE with following press-release, reported the press-centre of KASE:
ACCUMULATIVE PENSION FUND GRANTUM SUMMARIZED Y2011 OPERATING RESULTS.
As of January 1, 2012 JSC " Accumulative pension fund GRANTUM joint-stock company (Subsidiary of Kazkommertsbank JSC) became one of most reliable and fast growing pension funds and over the last three years it received an investment yield higher than inflation.
The overall pension accumulations of APF GRANTUM increased by KZT93.1 bn and made up KZT243 bn. Showing one of the highest paces in terms of growth of pension accumulations - 62.1%, APF GRANTUM considerably strengthened its market positions. APF GRANTUM's amount of pension accumulations per one depositor as of January 1, 2012 made up KZT675.4 thousand - the maximum value across Kazakhstan's pension system.
The intensity of growing pension accumulations of the Fund was secured by:
- Pension contributions of KZT32.7 bn;
- Positive balance of transfers by depositors to the amount of KZT55.7 bn;
- Accrued investment income to the amount of KZT12.9 bn.
Since the beginning of the current year, the Fund paid out pensions (including transfers to insurance companies) to depositors (beneficiaries) to the amount of over KZT5.4 bn.
As of January 1, 2012 the nominal income ratio (К2) of APF GRANTUM made up:
- 5.96% for 12 months;
- 28.97% for 36 months;
- 35,59% for 60 months.
In terms of profitability, APF GRANTUM over the past three years showed the maximum investment profitability across the industry (28.97%)*, which substantially exceeds the cumulative inflation rate (22.96%)*. The Fund's profitability in all three periods exceeds average weighted ratios of nominal income across the pension system.
As of January 1, 2012 the most part of the Fund's pension assets is placed in highly reliable government securities of the Republic of Kazakhstan (55.4%), in corporate bonds (18.1%), issued by major financial solid local and foreign issuers. The portion of shares and depository receipts is maintained at a low level - 2.1%.
In the structure of the Fund's investment portfolio financial instruments are nominated in Kazakhstan tenge - 84.2%, US dollar - 8.5%, Russian ruble - 5.5% and 1.8% - in Chinese yuan.
More details on the investment portfolio's structure are available on the Fund's corporate website.
NUMBER OF DEPOSITORS
As of January 1, 2012, the total number of depositors (individual pension accounts) of the Fund increased since the beginning of the year by 47.2%, or 92,735 and made up 360, 037 persons. The speed of growth of the number of depositors is one of the highest across the pension system.
In order to increase the accessibility of services for the ever increasing number of depositors, APF GRANTUM in 2011 opened 19 new and additional offices in the following populated areas: Almaty, Aksu, Aksukent, Ayagoz, Zharkent, Zhetysai, Issyk, Kandyagash, Kaskelen, Kurchatov, Novoishimskoye, Ridder, Rudny, Saran, Saryagash, Satpaev, Stepnogorsk, Usharal and Chromtau.
Development of the regional network and permanent improvement of services are priorities for APR GRANTUM. The Fund's efforts were highly valued by the public, and in 2011 APF GRANTUM was awarded the People's Quality mark "IMPECCABLE" in nomination "High quality service" of the National League of Consumer of Republic of Kazakhstan .
As of January 1, 2012, the Fund's equity made up KZT5.9 bn, financial result (income) for the reporting period made up KZT214.9 m.
In the course of 2011 , APF GRANTUM fully met requirements set by the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan with regard to sufficiency of equity (K1) and profitability of pension assets (K2).