Kazakhstan may merge oil, pension funds: president
Kazakhstan may merge its $23 billion state pension fund with the $57 billion oil fund in order to streamline their management, President Nursultan Nazarbayev said on Monday.
The oil-rich Central Asian nation hires foreigners to manage most of its oil fund assets and the addition of the pension fund could create more opportunities to expand.
“Norway has good experience, they have merged their pension fund with their national (oil) fund, similar to the one we have,” Nazarbayev said on state television.
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