Republic of Kazakhstan; Financial Sector Assessment Program Updateâ€”Technical Noteâ€”Investment Opportunities for Pension Funds

This technical note examines investment opportunities for pension funds in Kazakhstan. It puts forward policy alternatives that could lead to improved management of pension fund assets in Kazakhstan. The note emphasizes prudence in the management of pension assets, given the social and fiscal importance of the pension sector. It discusses different investment alternatives and development options for the domestic Kazakhstan capital market. The note concludes that neither the regulators nor industry participants appear to fully appreciate the risks attached to the practice of focusing on short-term and high-yield investments.

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Year of publication:	2004-10-27
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Financial Sector Assessment Program \| pension \| pension funds \| capital markets \| capital market \| private pension \| pension fund \| pension assets \| pensions \| pension system \| private pension funds \| domestic capital \| index funds \| asset management \| corporate securities \| pension schemes \| pillar pension \| securitization \| domestic capital market \| supplementary pension \| insurance companies \| pension reform \| government securities \| capital inflows \| investment risks \| corporate bonds \| stock market \| investment options \| pension systems \| pension liabilities \| investment management \| domestic capital markets \| reinvestment risk \| capital market funding \| pension investment \| capital market development \| eurobonds \| contribution rates \| capital account liberalization \| life insurance \| pension asset \| corporate bond market \| individual accounts \| domestic bonds \| types of pension \| government bonds \| private pension fund \| pension fund assets \| retirement \| public pension \| excess liquidity \| hedging \| pension plan \| pension benefits \| asset managers \| capital flow \| private pensions \| bond issues \| private pension plan \| mortality tables \| capital flow volatility \| pension fund investment \| pension fund management \| reinvestment risks \| annuity purchase \| defined-benefit scheme \| contingent liabilities \| central securities depository \| foreign bonds \| benefit payments \| benefit scheme \| pension fund managers \| pension age \| call options \| supervision of pension fund \| securities market \| pension benefit \| bond yields \| pension contributions \| state pension \| pension sector \| minimum income \| provident funds \| high yield investments \| investment choices \| pension fund portfolios \| defined benefits \| securities depository \| pension investments \| defined contribution system \| contribution system \| pension fund investments \| pensioners \| government bond yields \| pension fund system \| joint stock \| level playing field \| multi-pillar pension system \| domestic capital market development \| defined benefit \| funded pension \| bond ? index funds \| credit rating \| investment managers \| joint stock companies \| investment insurance \| pension company

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 04/337 2 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005590980