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Kazakhstan Stock Exchange Director on the planned single pension fund 06 февраля 2013, 11:03

Although the number of issuers will decrease, there will be one powerful investor (…) the investment rules are expected to be liberalized: Kadyrzhan Damitov.
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KASE President Kadyrzhan Damitov. © Yaroslav Radlovsky KASE President Kadyrzhan Damitov. © Yaroslav Radlovsky
If Kazakhstan launches a single pension fund, the number of listed companies at the Kazakhstan Stock Exchange (KASE) will decrease. KASE President Kadyrzhan Damitov tells about possible changes in the country’s securities market. Late January President Nazarbayev tasked the Government with working out suggestions on a single pension funds. According to him, “a consolidated structure like this under the management of the Central Bank would enable to more effectively manage people’s savings”. “All the currently operating 11 pension funds are listed companies; if a single pension fund is launched, there will be only one listed company (…) as the number of issues decreases, KASE will suffer certain losses”, Mr. Damitov told journalists. However, according to him, it’s hard to predict how the volume of transactions will change. “Although the number of issuers will decrease, there will be one powerful investor (…) the investment rules are expected to be liberalized (…) It’s hard to predict what effect these changes will have on KASE’s revenues”.
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