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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of June 15, 2020 No. 78

About approval of Rules of the choice of the foreign organizations managing pension assets of the single accumulation pension fund including requirements to them, in case of the order it to make the actions necessary for management of pension assets of the single accumulation pension fund

(as amended on 23-04-2024)

According to the subitem 80) parts two of article 15 of the Law of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan" for the purpose of ensuring effective management of pension assets of the single accumulation Board of National Bank of the Republic of Kazakhstan DECIDES: pension fund

1. Approve the enclosed Rules of the choice of the foreign organizations managing pension assets of the single accumulation pension fund including requirements to them, in case of the order it to make the actions necessary for management of pension assets of the single accumulation pension fund.

2. Declare invalid the resolution of Board of National Bank of the Republic of Kazakhstan of September 27, 2017 No. 173 "About approval of Rules of the choice of the foreign organizations managing pension assets of the single accumulation pension fund including requirements to them, in case of the order it to make the actions necessary for management of pension assets of the single accumulation pension fund" (it is registered in the Register of state registration of regulatory legal acts at No. 15947, it is published on November 9, 2017 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan).

3. To provide to department of monetary transactions in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by the subitem 2) of this Item and item 4 of this resolution.

4. To department of information and communications - the press service of National Bank to provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

5. To impose control of execution of this resolution on the supervising vice-chairman of National Bank of the Republic of Kazakhstan.

6. This resolution becomes effective after ten calendar days after day of its first official publication.

Chairman of National Bank of the Republic of Kazakhstan

E.Dosayev

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of June 15, 2020 No. 78

Rules of the choice of the foreign organizations managing pension assets of the single accumulation pension fund including requirements to them, in case of the order it to make the actions necessary for management of pension assets of the single accumulation pension fund

Chapter 1. General provisions

2. In Rules the following concepts are used:

1) advanced index asset management - type of management in case of which value of variability of variation of profitability (tracking error) makes from 0, ((zero whole five tenth) to 2 (two) percent inclusive. Under advanced index management the moderate variation from the main indicators of benchmark portfolio is supposed;

2) information coefficient (information ratio) - the superprofitability level attitude towards variability of variation of profitability (tracking error);

3) specialized system - the software and (or) the special Internet resource having the base of investment and (or) analytical data necessary for the analysis of activities of external managing directors;

4) the specialized mandate - the mandate transferred to external management for the purpose of asset diversification by application of the strategy of investment assuming unique investment approaches at the level of separate asset classes, types of management, the countries and regions;

5) diversification - placement of pension assets in various financial instruments for the purpose of decrease in risk of their losses according to the requirements established by National Bank of the Republic of Kazakhstan;

6) managerial supervision - possibility of one legal entity directly and (or) indirectly to determine decisions and (or) to exert impact on the decisions made by other legal entity in connection with participation (ownership) in such legal entity;

7) the stock exchange market - set of the relations with use of trade systems of the organizer of the biddings who performs organizational and technical supply of the biddings;

8) the global mandate - portfolio which investments go out of one country (the market, the region);

9) investment dyyu-dilidzhens - complex of the analytical actions directed to comprehensive check and efficiency evaluation of investing activities of the external managing director;

10) the institutional investor - the legal entity performing investment of money into financial instruments;

11) group of companies - the legal entities who together are under managerial supervision of one legal entity or legal entities, one of whom has managerial supervision over other legal entity;

12) assets on consulting servicing - the assets which are in management of the external managing director on which the external managing director advises the client regarding investment asset management;

13) the mandate - briefcase with certain investment characteristics;

14) mid-flight the account - the account for carrying out transactions with derivative financial instruments opened in the clearing organization and used for the purpose of placement of providing according to transactions and carrying out calculations for transactions with derivative financial instruments;

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