| Kazakhstan’s central bank created a unit to oversee investments of a 10 to 20-year duration to diversify and increase returns on its holdings. JSC National Investment Corporation of the National Bank of Kazakhstan will invest reserves and National Oil Fund money in “traditional and alternative assets in international financial markets,” the Almaty-based bank said.
Kazakhstan, the biggest oil producer in central Asia, is seeking to boost returns on its reserves after its 7.4 trillion tenge ($49 billion) National Oil Fund reaped 60 billion tenge in investment profit last year. Assets in the Kazakh National Oil Fund, which is managed by the central bank, and foreign-exchange reserves amounted to $85.5 billion in September...............................................Full Article: Source
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