Samruk Kazyna told about new strategy of Future Generation Fund

03 August, 2018, 15:10 353
Samruk Kazyna told about new strategy of Future Generation Fund

The funds of foundation will be concentrated at finance investments abroad, Balzhit Greval noted.

Samruk Kazyna JSC told about establishment if the Future Generations Fund, correspondent reports.

The previous mandate of the Foundation was welfare development. In frames of the new strategy, the role of the Foundation has doubled. First of all, this is the creation of the welfare of Kazakhstan and the preservation of prosperity for future generations. This means that we will concentrate on financial investments abroad, which will be connected, of course, with domestic industries in Kazakhstan. We will diversify our balance, further ensure the flow of financial resources to Kazakhstan while at the same time smoothing out instability in Kazakhstan, " Balzhit Greval, Managing Director for Strategic Development of Samruk-Kazyna JSC told during a press conference in the Government.

In addition, she noted it is expected the volume of dividends which paid by the company’s shareholders, will be increased.

This mandate of the Future Generation Fund is similar to the mandates of other world wealth funds. We intend to carry out this work in the next few years. Of course, Kazakhstan remains the main priority for Samruk Kazyna, this mandate will be permanent, we will simply diversify our revenue streams and part of our investments will, therefore, be abroad.

Earlier, the Fund reported that Samruk-Kazyna early withdrew frozen deposits from Kazkommertsbank for a total of 117 billion tenge.