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The document ceased to be valid since  August 10, 2016 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of May 30, 2016 No. 126

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of July 25, 2006 No. 66

About approval of Rules of the choice of external asset managers of National fund of the Republic of Kazakhstan

(as amended on 24-12-2014)

For the purpose of ensuring efficiency of trust management of assets of National fund of the Republic of Kazakhstan, and also according to the Law of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of the choice of external asset managers of National fund of the Republic of Kazakhstan.

2. This resolution becomes effective after fourteen days from the date of state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan, and its action extends to the relations which arose since July 1, 2006.

3. To department of monetary transactions (Gerasimenko Yu. V.):

1) together with Legal department (Sharipov S. B.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in five-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution to the attention of the Ministry of Finance of the Republic of Kazakhstan.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Sartbayev M. M.

Chairman of National Bank

A. Saydenov

It is approved

Minister of Finance of the Republic of Kazakhstan

August 8, 2006

 

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of July 25, 2006 No. 66

Rules of the choice of external asset managers of National fund of the Republic of Kazakhstan

1. General provisions

1. These rules are developed according to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and regulate general procedure and conditions of transfer of part of assets of National fund of the Republic of Kazakhstan (further - Fund) in external or external transit management to foreign banks and the specialized organizations for asset management.

2. Part of Fund is transferred to external management for:

1) decrease in level of the risks connected with management owing to diversification of management;

2) increases in profitability of management of Fund thanks to experience, analytical materials, researches and technical resources of the external managing director;

3) receipts of additional examination in the field of asset management, personnel trainings;

4) possibilities of implementation of new asset classes on which there is no experience in internal management;

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