Sovereign Wealth Fund Samruk-Kazyna Joint Stock Company was created in accordance with the Presidential Decree No. 668 of 13 October 2008 and Government Resolution No. 962 of 17 October 2008.
The Fund was created through a merger of two large state conglomerates: Sustainable Development Fund Kazyna and Kazakhstan’s Holding for Management of State Assets Samruk.
As soon as it was created in 2008, the Fund assumed the role of one of the catalysts in recovering the national economy during post-crisis period. It successfully fulfilled the following tasks during that period:
Stabilization of the financial sector through
additional capitalization of commercial banks
Refinancing expensive mortgage loans
Addressing challenges in shared-equity construction market
Providing loans to SMB and
implementation of strategic investment projects
The funds spent for these purposes: more than 1tn KZT
The Fund switched back to its initial mission in 2012. The Fund’s new strategy was developed in pursuance of the Kazakhstan-2050 Strategy.
A large scale Transformation Programme for the Fund and its portfolio companies launched in 2014. The ultimate goal was to double the value and improve efficiency of the businesses.
The Fund’s transition to a new operational model took place in 2016.
Establishment of the Samruk-Kazyna Finance
Start of the Transformation Programme
A new organisation model of the Fund was introduced and presented
Start of the assessment and design stage for the Transformation Programme of the Fund and its portfolio companies
Fund’s transition to a new operational model