ALMATY, Feb 25 (Reuters) - Kazakhstan’s rainy-day National Fund plans to invest up to 1% of its savings portfolio in assets denominated in Chinese yuan, the Central Asian nation’s central bank which manages the fund said on Tuesday.
Kazakhstan keeps up to $10 billion out of its $61 billion fund in the liquidity-focused stabilisation portfolio and allocates the rest towards the savings portfolio, meaning that its yuan investment could total around $500 million.
The central bank has published draft amendments to National Fund investment guidelines for public discussion that will last until March 10.
The fund splits its savings portfolio between bonds, equities, alternative investments such as private equity, and gold. Currency-wise, the fund is mostly invested in dollar-, euro- and Japanese yen-denominated assets. (Reporting by Olzhas Auyezov Editing by Shri Navaratnam)
Our Standards: The Thomson Reuters Trust Principles.