OREANDA-NEWS. On November 10, 2008 Accumulative pension fund SAPF (Almaty), a member of Kazakhstan Stock Exchange (KASE) in categories "K" and "P", spread the press release informing on outcomes of its operation in Q3 2008, reported the press-centre of KASE:

In Q3 2008 Accumulative pension fund SAPF grew stably in main areas of its  operation.

The fund is still a leader in terms of individual pension accounts - over 2.4 m. people are SAPF depositors comprising more than 25 % of the pension system.

Pension accumulation volume in reporting 9 months increased in terms of the amount of growth close to that of the market (13.8 %) KZT28.3 bn. reaching KZT233 bn. The fund improved in this regard thanks to its conservative investment strategy, which provided positive dynamics of amount of growth of "net" investment income amid turmoil on financial market with other large accumulative pension funds sharply declining.

Thus, according to the official data AFS "net" investment income, distributed among SAPF depositors, as on October 1, 2008 with acсrued total for the entire period of fund operation made up KZT79 bn., having increased from the beginning of the year KZT6.9 bn. and guaranteed positive yield of investment of pension accumulation to SAPF.

An essential indicator of stability and reliability of the pension fund is the size of its own capital. It will provide liquidity and create conditions for uninterrupted fund operation. SAPF own capital as on the reporting date made up KZT7.1 bn. increasing a billion of tenge in 9 months (18 % amount of growth).

SAPF is one of the main funds carrying out pension payment: pension payments and transfer into insurance companies, executed by the Fund beginning its operation, in last 9 months increased KZT4.3 bn. and exceeded KZT20 bn.

According to results of three quarters of 2008 the Fund complied with prudential requirements on sufficiency of own capital and yield of pension assets.