According to the Unified Accumulative Pension Fund (UAPF), in 2023, private asset management companies such as ВCC Invest, Centras Securities, Halyk Global Markets, Jusan Invest and Halyk Finance outperformed the National Bank in terms of earnings.
Last year, the National Bank reported a 10.11% return on UAPF pension assets, while inflation was at 9.8%. Public debt accounts for almost half of the regulator’s portfolio (46.5%); public debt of other countries – 0.13%; deposits in the National Bank – 4.92% and bonds issued by quasi-public entities – 9.1%.
As of January 1, 2024, the weighted average return for BCC Invest assets...