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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of April 21, 2020 No. 56

About modification and amendments in the resolution of Board of National Bank of the Republic of Kazakhstan of July 25, 2006 No. 65 "About approval of Rules of implementation of investment transactions of National fund of the Republic of Kazakhstan"

According to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and the order of the Government of the Republic of Kazakhstan of May 18, 2001 No. 655 "About the agreement on trust management of National fund of the Republic of Kazakhstan", for the purpose of ensuring efficiency of trust management of National fund of the Republic of Kazakhstan the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of July 25, 2006 No. 65 "About approval of Rules of implementation of investment transactions of National fund of the Republic of Kazakhstan" (it is registered in the Register of state registration of regulatory legal acts at No. 4361) the following changes and amendments:

in Rules of implementation of the investment transactions of National fund of the Republic of Kazakhstan approved by the specified resolution:

state Item 3 in the following edition:

"3. Activities for trust management of Fund include acquisition of services of Bloomberg of L.P., Reuters (Eastern Europe) of Limited and other information systems providing data on the financial markets.";

state Item 5 in the following edition:

"5. Active asset management is type of management in case of which value of variability of variation of portfolio return (tracking error) exceeds 2 (two) percent.";

state Items 26-2 and 26-3 in the following edition:

"26-2. Transition period - the period, since 2017, lasting from 3 (three) up to 5 (five) years during which transition to new target strategic asset allocation of savings portfolio is performed.

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