BAKU, Azerbaijan, Aug. 12
Trend:
The foreign exchange assets of the National Fund of Kazakhstan amounted to $56.9 billion in July 2021, having decreased by $450 million compared to June 2020, Chairman of the National Bank of Kazakhstan (NBK) Aliya Moldabekova, Trend reports with reference to the NBK press service.
According to her, the decrease in the currency assets of the National Fund over the past month was largely due to the allocation of a guaranteed and targeted transfer to the state budget for a total amount of about 477 billion tenge ($1.12 billion). At the same time, receipts to the fund in July amounted to 40 billion tenge ($94.1 million), including $65 million - receipts in foreign currency.
“Favorable conjuncture of global markets was observed in the past month. Thus, amid the growth of bonds, shares and the price of gold, the investment income of the National Fund in July amounted to $590 million," the NBK chairman noted.
“Since early 2021, the investment income of the National Fund has amounted to about $2 billion, or 3.5 percent. The key driver of positive investment income is the growth of the stock market. The share of shares was increased by the NBK as part of its strategy to improve the efficiency of the National Fund's management and increase the share of more profitable asset classes. Along with shares, the shares of corporate bonds and Eurobonds of emerging markets were increased,” said Moldabekova.
