Article 5. The basic principles of the formation, replenishment of the endowment fund (Endowment capital) and the use of its investment income of the Law on Endowment Funds and Endowment Funds (Endowment Capitals)

     1. Depositors, endowment funds, and management companies (fiduciaries) participate in the activities of endowment funds based on the principles of legality, equality, voluntariness, transparency, sound asset management, and generational equality.

     The principle of legality is to comply with the legal regime that establishes the actual operation of law, in which all persons strictly comply with the legal norms enshrined in the Constitution of the Republic of Kazakhstan, this Law and other regulatory legal acts of the Republic of Kazakhstan.

     The principle of equality consists in observing the legal regime that ensures equal rights of the depositor, the endowment fund, the management company (fiduciary) before the law and the court, regardless of origin, social, official and property status, gender, race, nationality, language, attitude to religion, beliefs, place of residence or any other circumstances.

     The principle of voluntariness is to comply with the legal regime that establishes the right of the depositor, the endowment fund to provide assistance to the beneficiary and the beneficiary's right to receive or not receive it without coercion from third parties.

     The principle of glasnost is to comply with the legal regime that establishes the right of the depositor, the endowment fund, and the management company (fiduciary) to openly participate in the activities of the endowment fund, to freely publicize the results of such participation in the media, as well as the obligation not to interfere with the disclosure of information on tax, financial, and accounting statements related to the endowment-the fund (endowment capital).

     The principle of sound asset management is to comply with the legal regime that establishes fiduciary obligations for the management company (fiduciary).

     The principle of generational equality is to comply with the legal regime that establishes the obligation of the endowment fund to take into account the interests and needs of future generations when making decisions and performing actions.

     2. The freedom to implement the principles provided for by this Law may be limited only by the laws of the Republic of Kazakhstan. 

The Law of the Republic of Kazakhstan dated June 30, 2025 No. 199-VIII SAM. 

This Law regulates public relations that arise during the creation, management and liquidation of endowment funds, the formation, replenishment, and dissolution of endowment funds (endowment funds) and the use of their investment income, and the trust management of assets of endowment funds (endowment funds). 

President    

Republic of Kazakhstan     

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