Kazakhstan’s Unified Accumulative Pension Fund (ENPF) has published a review of pension asset management as of October 1, 2026. Total assets amounted to 28,267.61 billion tenge.
The National Bank of the Republic of Kazakhstan managed 26,633.21 billion tenge, including assets funded by OPV, OPPV and DPV, as well as 1,428.29 billion tenge funded by OPVR. Investment portfolio managers oversaw assets worth 206.11 billion tenge.
Government securities issued by Kazakhstan’s Ministry of Finance made up the largest share of the portfolio funded by OPV, OPPV and DPV, at 43.34%. Bonds of quasi-public companies accounted for 8.27%, National Bank deposits for 2.63%, and bonds issued by second-tier banks for 2.50%. Index-managed investments made up 37.62% of assets. The portfolio was allocated 58.86% in tenge and 41.13% in US dollars.
Income from interest on securities, deposits and reverse repo transactions amounted to 1,693.73 billion tenge. Market revaluation of securities brought in 14.15 billion tenge, while other income was 3.48 billion tenge. Market revaluation of foreign currency and externally managed assets was negative. Over the 12 months from October 2025 to September 2026, investment income was about 706.33 billion tenge and the return was 2.64%.
Of OPVR assets, 96.52% was invested in government securities issued by the Ministry of Finance and 3.34% in National Bank deposits. The portfolio contains only instruments denominated in the national currency. Its return over the past 12 months was 19.15%, with accrued investment income of 173.20 billion tenge.
Among the investment portfolio managers, Halyk Bank subsidiary Halyk Finance managed the largest volume of assets, 91.95 billion tenge, with a 12-month return of 8.22%. Centras Securities had about 43.85 billion tenge in assets and a 13.95% return; Alatau City Invest, 32.66 billion tenge and 9.46%; BCC Invest, 29.57 billion tenge and 8.75%; and Halyk Global Markets, 6.21 billion tenge and 7.92%. Tansar Capital held 1.87 billion tenge in assets. It has managed pension assets since April 8, 2026, with a return of 0.00% since it began management.
Since January 1, 2026, ENPF has not accepted new applications to transfer pension assets to Halyk Global Markets. The manager notified the fund that it would terminate its contract effective January 1, 2027. The invest.enpf.kz unified information platform brings together information on investment portfolio managers and their investment activities.
