Trump's victory reduced payments to children from the National Fund of Kazakhstan.

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 U.S. 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 ten months of 2024. However, by the end of the year, this figure 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 increase in volatility in the financial markets caused by D. Trump's victory in the U.S. presidential elections and the subsequent sell-off in the U.S. government securities 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 Yield Boosts 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, $888.8 million was credited to children's accounts, significantly higher than the $695.5 million recorded in 2024.

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

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

This year, 324,430 participants in the "National Fund – Children" program are expected to be able to access their savings, as they will turn 18 by the end of 2025.

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

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