Kazakh $60 Billion Oil Fund to Seek Longer Treasuries, More Risk
- Kazakh oil fund reshapes portfolio in search of higher returns
- Central banker says ‘we must hurry’ with Fed rate hikes ending
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Kazakhstan’s central bank is reshaping the portfolio of the country’s $60 billion oil fund with a plan to load up on longer-maturity US Treasury bonds and more risky assets amid signs the Federal Reserve is nearing the end of its tightening campaign.
The foray into new markets is set to involve non-investment-rated corporate debt issued in developed economies as well as assets such as private equity and real estate, according to Aliya Moldabekova, deputy governor of the National Bank of Kazakhstan.