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The document ceased to be valid since  November 20, 2017 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of September 27, 2017 No. 173

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of August 27, 2013 No. 222

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

According to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and 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. This resolution becomes effective after ten calendar days after day of its first official publication.

Chairman of National Bank

G. Marchenko

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2013 No. 222

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

1. General provisions

1. 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 (further - Rules) are developed according to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" and regulate procedure for the choice of the foreign organizations managing pension assets of the single accumulation pension fund (further - Fund), including requirements to them, in case of the order it to make the actions necessary for management of pension assets of Fund.

2. The part of pension assets of Fund in external management is transferred for:

1) decrease in level of the risks connected with concentration of management by means of diversification of management;

2) increases in profitability of pension assets 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 use of new asset classes on which there is no experience in internal management.

3. In Rules the following concepts are used:

1) the regional mandate - portfolio which investments are concentrated within one country (the market, the region);

2) active asset management is type of management in case of which target value of variability of variation of profitability (tracking error) exceeds 0.5 percent;

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