The Corporation was established in 2012 with the purpose of enhancing the management efficiency and diversification of the international reserves of the Republic of Kazakhstan. The Corporation is focused on active investments in alternative asset classes: private equity, real estate, infrastructure and hedge funds.
The Corporation’s portfolio management is guided by the Investment Strategy, which is approved by the Executive Board of the National Investment Corporation of the National Bank of Kazakhstan. The Strategy determines the investment horizon, risk appetite, profitability target indicators and investment limitations. According to the Strategy, the Corporation’s target returns and risk appetite is determined by the Reference Portfolio, which is a low-cost and passively managed portfolio composed of global shares (80%) and global bonds (20%).
The Сorporation’s portfolio management aims to generate long-term returns that exceeds the Reference Portfolio returns, at an equal or lower risk level.
The Corporation’s target portfolio is diversified by three asset categories::
The Corporation invests in alternative assets mainly through investing in funds using a «Core-Satellite» approach. Large investments in diversified funds serve as the Core. Smaller specialized funds aimed at increasing returns or reducing risk serve as Satellites.
direct investment in large global funds that
investments in specialized funds and strategies managed by the strategic partner
Private equity investments aimed at creating a diversified portfolio in terms of strategy, industry and geography. Private equity investments are part of the dynamic assets category.
Investment in funds whose key activity is investing in real estate properties covering various real estate types, strategies and geographies. Investments in real estate funds fall under the category of assets that provide additional diversification to investment portfolios
Investment funds created for investment in accordance with a certain strategy and in various financial instruments. Investments in hedge funds fall under the category of risk mediators.
Investment in funds whose main investment target is infrastructure assets. Investments in infrastructure fall under the category of assets that provide additional diversification to investment portfolios.
The Corporation’s risk management is based on the experience, and continuous professional and technological development
Risk management focuses on prevention, reaction, effective communication, and risk reduction