OREANDA-NEWS. August 01, 2011. Accumulative Pension Fund GRANTUM summarized performance results for the first  half of 2011, reported the press-centre of KASE.

According to results of Y2011 H1, Accumulative Pension Fund GRANTUM (Subsidiary of Kazkommertsbank), continues positive trends of 2010, traditionally retaining positions on growth of pension assets and the number of depositors, remains an absolute leader on the size of average pension capital per depositor, and strengthened positions, having taken the fourth place on the size of pension assets among 12 Accumulative Pension Funds.

In the first half of 2011, APF GRANTUM showed the higherst growth of pension assets (33%) and increased pension assets by KZT49.5 bn, the total number of which as of July 1, 2011 reached KZT199.5 bn. In March 2011, the Fund entered four largest pension funds of Kazakhstan. The size of pension capital per depositor as of the reporting date made up KZT654 th. – the maximum value in the accumulative pension system of Kazakhstan.

The growth rate of pension assets according to the reporting period results was ensured by pension contributions to the amount over KZT13.7 bn, transfers balance over KZT32.1 bn and accrued investment income to depositors accounts over KZT7.8 bn. From its creation the Fund paid pension capital to insurance organizations of depositors (beneficiaries) in the size of KZT11 bn, including for six months of 2011 over KZT2.5 bn.

As of July 1, 2011, the total number of depositors increased by 60,535 people or 24.8%, and made up 305,118 people (individual pension accounts).

To improve the services and accessibility of the Fund opened from the beginning of 2011 13 new and additional offices in: Almaty, Aksu, Issyk, Zharkent, Zhetysai, Saryagash, Kandyagash, Kaskelen, Kurchatov, Ridder, Rudniy, Satpaev and Stepnogorsk. Under the regional network development the Fund will open till the end of 2011 9 new offices. In March 2011, the Fund was awarded the quality mark "PERFECT" in the nomination "Quality Servicing", established by the Kazakhstan National League of Consumers.

As of July 1, 2011, the nominal income coefficient (К2) of APF GRANTUM made up for: 12 months - 6.02, 36 months - 22.36 and 60 months - 40.23. The profitability exceeds weighted average nominal income coefficients on the pension system for similar periods - 4.68, 12.53 and 35.31 accordingly.

As of July 1, 2011, the Fund invested to highly reliable government securities of the Republic of Kazakhstan, i.e. financial instruments with the yield indexed at the inflation rate (MEUJKAM). Other investments were made into corporate bonds and shares, issued by financially sustainable local and foreign issuers. The majority of pension assets have been invested into financial instruments rated by international rating agencies (84.51%).

The Fund has in its investment portfolio financial instruments denominated in Kazakhstan tenge - 92.41%, in US dollars - 2.85% and Russian rubles - 4.74%.

As of July 1, 2011, the Fund equity capital makes up over KZT5.7 bn, the net income for the reporting period - KZT18.9 mln.

During the first half of 2011, APF GRANTUM fully implemented prudential requirements of the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan (FSC NBK) for the equity capital (К1) sufficiency and profitability  of pension assets (К2).