October 15, 2019 / 1:25 PM / a month ago

Kazakh president orders sovereign fund to seek higher returns

ALMATY, Oct 15 (Reuters) - Kazakh president Kassym-Jomart Tokayev ordered the central bank on Tuesday to review its approach to managing the oil-exporting nation’s sovereign fund and seek higher returns, his office said in a statement.

While the central bank has started allocating more of the $59 billion fund’s assets towards alternative investments, it is largely invested in low-yield bonds. (Reporting by Olzhas Auyezov; editing by John Stonestreet)

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