National Oil Fund’s average annual earning capacity stands at 4.51% 25 июля 2012, 21:03
- Found a bug?
- Select it and press Ctrl + Enter
Central bank Governor Gregory Marchenko. Vladimir Dmitriyev ©
The National Oil Fund’ average annual earning capacity stands at 4.51%, Newkaz.ru reports, citing the National Bank’s Governor Gregory Marchenko as saying July 25 during the online conference arranged by Profinance.kz.
“Things are up for the National Bank. The Fund’s assets in 2011 and the H1 2012 grew by $20.8 billion; the average annual earning capacity stands at 4.51%. The Fund’s investment income from its foundation to 2011 made up $6.2 billion”, Mr. Marchenko said.
He reminded that “the Fund’s assets have been invested into more than ten foreign currencies”. He briefed that the National Bank in partnership with the Government is considering ways to diversify the Fund’s assets. “Notably, we are studying ways to invest into corporate equity and securities of emerging markets, other alternative ways”.
As of May 1, 2012, the National Fund’s assets made up $51.4.
The National Fund of Kazakhstan was created in 2000 as a stabilization fund that accumulates windfall revenues from oil sales and ensures the economy of Kazakhstan will be stable against the price swings of oil. The assets of the National Fund assets are monitored by the National Bank of the Republic of Kazakhstan.
In his latest State of the Nation Address [January 27], President Nazarbayev suggested the National Oil Fund money be used in the form of loans to the national economy rather than kept with foreign banks.