Kazakhstan observed investment activity rise. Residents of the country increasingly prefer not to spend, but to invest their savings. The reason was both the growth of the population’s financial literacy and an increase in confidence in the securities market. There was a significant increase in investments in mutual funds this year. Thus, as of October 1, the amount of net assets of the country’s closed-end and open-end mutual funds almost reached a record-high 129 billion tenge (US$300.7 million), finprom.kz reported. This is 2.2 times more than last year. Almost 95 percent of assets are accounted for foreign exchange mutual funds. All this because the foreign exchange mutual fund gives an opportunity to invest in dollars and receive more profit than from deposits in foreign currency.
Translation by Saniya Sakenova
Edited by Saule Mukhamejanova
