How the outcome of the US elections affected payments to children from Kazakhstan's National Fund.

The National Bank of Kazakhstan reported that the primary factor was Donald Trump's victory in the U.S. presidential elections, which triggered a sell-off of American government bonds and a decline in stock indices, as conveyed by inbusiness.kz.

At the end of 2024, it was reported that the National Bank earned $5.3 billion from managing the currency assets of the National Fund over the first 10 months of 2024. However, the total for the year amounted to $4.5 billion with a yield of 7.5%. The main growth was driven by investments in stocks (+19.2%) and gold (+26.6%).

"It should be noted that in the 4th quarter of 2024, investment income was adjusted following the rise in volatility in financial markets, caused by D. Trump's victory in the U.S. presidential elections and the subsequent sell-off in the U.S. government bond market and negative revaluation of global stock indices," the response to the inquiry stated.

By the end of 2024, the volume of currency assets in the National Fund reached $58.8 billion.

Increased Yields Boost Payments under the "National Fund – Children" Program

It is important to note that the National Bank performs the function of trust management of the National Fund's assets, ensuring their preservation and growth, while the amount credited under the "National Fund – Children" program directly depends on the fund's yield and the state of its currency assets.

Despite the correction in investment income, payments under the "National Fund – Children" program increased in 2025. On January 30, 2025, accounts for children were credited with $888.8 million, significantly higher than the $695.5 million recorded in 2024.

"The increase in investment income was attributed to a significant rise in the stock market, which amounted to about 25% in 2023," the National Bank explained.

Moreover, not only did the total credited to children's accounts increase, but payments to 18-year-old participants in the program also rose, from $30.6 million in 2024 to $75.9 million in 2025.

This year, 324,430 participants in the "National Fund – Children" program, who will turn 18 by the end of 2025, are expected to utilize their savings.

Earlier, we also reported on where and how to check the allocation of funds from the National Fund for your child. You can read more about it here.

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