Astana Finance JSC plans to buy 50,65 % stake in  UlarUmit Pension Fund  and 100 % stake in the company managing the Fund’s assets -  Zhetysu Pension Asset Management Company.
For the period of two years, Astana Finance has been a trust managing company of this pension fund. UlarUmit is the largest pension fund in Kazakhstan, which performs all the required prudential standards of the competent authority, and fulfills its obligations on paying the investment income, thus, providing the stability for its clients.
If Astana Finance is among the shareholders of UlarUmit, it plans to focus on strengthening the financial situation of the Fund by making additional capital injections to the Fund’s equity capital, thus, keeping its leading positions in Kazakhstan market and being among three leaders in the pension market.
Today, Astana Finance proceeded with an application to the State Agency on Regulation and Supervision of the financial market and financial organizations to seek for an approval to be considered as a large member of the Fund.   The deal will be done after the competent authority will issue the approval.
All deeds of the existing shareholders including Astana Finance, are directed at stabilization of financial condition of the pension fund, which will positively affect the pension system and financial market of Kazakhstan. 
Press Service