01:06 GMT +313 December 2019
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    Samruk Kazyna

    Kazakh National Welfare Fund Sells 87 Assets for $481Mln

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    The Samruk-Kazyna Fund sold 87 assets for 186 billion tenge (about $481 million) and liquidated or reorganised 51 assets, while 20 assets are still in operation, the press service of the Sovereign Wealth Fund Samruk-Kazyna said.

    "An important direction in the implementation of the Comprehensive Plan is the public offering of shares of the Fund’s large companies on stock exchanges", the press service said, citing Chairman of the Management Board of Samruk-Kazyna Akhmetzhan Yessimov, who made the statement at the fund management board with the participation of Nursultan Nazarbayev, the first president of Kazakhstan.

    The head of the National Welfare Fund Samruk-Kazyna emphasised that in order to ensure effective management of the fund group’s asset portfolio, measures have been taken to reduce management levels and exit from non-core assets.

    "If, as of 1 January 2018, almost all companies had six management levels, today, in seven out of nine large companies, the number of management levels corresponds to the target model of two-three levels. That is, we have reduced a large layer of administrative and managerial staff", Akhmetzhan Yessimov said.
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    finance, assets, Kazakhstan
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