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Pension funds consider investing into producing companies

28 november 2011, 17:56
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Tengrinews.kz stock photo
Tengrinews.kz stock photo
Pension funds have floated the idea of investing savings of Kazakhstan residents into large industrial companies, Megapolis writes.

According to representatives of pension funds, pension accounts currently hold around 17 billion tenge ($116 million) that are not used in any way. “It is important for us to make this money work in Kazakhstan, as it is easier to forecast the situation at the domestic market and external crisis fallout doesn’t have a significant effect on the country. Investing the pension money, would open a lot of doors for our development that we can profit from,” chairman of Astana pension fund Andrei Karyagin said.

The initiators of the idea think that each fund will have its own investment policy. The suggestion is to invest money in large projects, mainly industrial ones. Because such companies creates less risks and a possibility for big profits. “On behalf of my fund I can say that we can invest up to $100-200 million into infrastructure projects. This is quite a big amount for an average fund,” Karyagin said.

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