+7 701 713 4044
+7 701 713 4044

Adal Integritas Capital
Management Ltd. Registered in the Astana International Financial Centre
and licensed by the Astana Financial Services Authority License and registration: License number: AFSA-A-LA-2021-0032 Issue date: 26.10.2021

Adal Integritas Capital Management Ltd.

A company incorporated in the Astana International Financial Centre and licensed by the Astana Financial Services Authority (AFSA)

License and registration: License number: AFSA-A-LA-2021-0032 Issue date: 26.10.2021

01 About Us

Adal Integritas Capital Management Ltd. (AICM)

A privately held investment management company incorporated in the Astana International Financial Centre and operating under the supervision of the Astana Financial Services Authority (AFSA).

The firm provides end-to-end services in establishing investment structures, managing assets and raising capital, from fund formation through to transaction support.

License

License number: AFSA-A-LA-2021-0032

Issue date: October 26, 2021

Status: Active

Regulator: AFSA – Astana Financial Services Authority

The licence has been granted by the Astana Financial Services Authority and confers the right to carry on regulated activities within the Astana International Financial Centre.

Licence particulars are stated as per the AFSA public register of licences (publicreg.myafsa.com) as at 17 August 2026.

REGULATED ACTIVITIES

1. Managing a Collective Investment Scheme in Relation to Digital Assets
Establishment and management of investment funds, including digital asset funds: portfolio construction, execution of the investment policy, and liaison with the administrator, custodian and auditor.
2. Managing Investments
Discretionary management of client assets: taking investment decisions and executing transactions within the strategy and mandate agreed with the client.
3. Arranging Deals in Investments
Structuring and arranging transactions in financial instruments: placement of instruments, sourcing of counterparties and transaction support through to completion.
4. Advising on Investments
Personal investment recommendations on financial instruments, including portfolio structure and instrument selection.
MISSION

We facilitate
attracting investment to develop
the economy
of Kazakhstan.

We apply our knowledge, experience, proprietary expertise and international network to deliver the maximum return on investment.

Experts
in structuring
strategies
for sustainable growth.
An independent
system,
autonomous from external influences.
In-depth research focused on long-term growth.
STRATEGY

To provide our investors and partners with comfortable
terms of cooperation

to execute investment projects leveraging the advantages
of the AIFC jurisdiction

We offer
flexible and transparent terms
for successful project execution.
We leverage legal protections and international standards of the AIFC jurisdiction to ensure trust and security.
We provide end-to-end project support, from strategy development to investment management.
FOCUS

Short-term
and long-term
trading
strategies
and portfolio
investments

Into a broad spectrum of market financial instruments and the real economy
sector

Trading strategies
for diverse
horizons
Diversified portfolio investments
Investments
into the real sector
of the economy
02 Advantages of Operating within the AIFC Jurisdiction

AICM operates within the Astana International Financial Centre, providing distinct advantages for our investors

  • A transparent and attractive body of rules and regulations for foreign investors, aligned with international standards (Basel, IOSCO and others).
  • AIFC legislation based on the common law of England and Wales.
  • An independent AIFC Court and flexible dispute resolution options.
  • Tax preferences and a flexible currency regime.

Links to the public register of AIFC (AFSA):

Adal Integritas Capital Management Ltd.
https://publicreg.myafsa.com/details/210940900348/

Adal Integritas Equity Focused Fund I OEIC Ltd.
https://publicreg.myafsa.com/details/220840900080/

ADAL MA1 FUND OEIC Limited
https://publicreg.myafsa.com/details/240340900036/

Our strategies are tailored to various risk profiles and targeted at optimal returns

S&P-adjusted

S&P-adjusted

Long-term investments in large-cap companies for sustainable growth.

Speculative

Speculative

News-driven assets with an investment horizon of 3–6 months.

High-Beta

High-Beta

High-risk assets with low market correlation, targeting short-term horizons of up to 1 year

Hedge

Hedge

Hedging assets, including put options, designed to protect the portfolio during market corrections.
Business Consulting
Documentof recent business
Business Finance
Latest Invoice of project
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Branches
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Team
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Awards
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Clients
03 Our Team

Our Team of Experts

are top-tier professionals with extensive experience in investment, finance, and asset management.

Anton Karamzin
Chief Executive Officer
Anton Karamzin
Chief Executive Officer
Extensive experience at leading global financial institutions, including Citibank and Morgan Stanley.
Learn More
Zangar Shotbakov
Chief Financial Officer
Zangar Shotbakov
Chief Financial Officer
Over 30 years of experience in the banking and financial sectors.
Learn More
Lyubov Gordiyenko
Chief Operating Officer
Lyubov Gordiyenko
Chief Operating Officer
Over 30 years of experience in the banking and financial sectors.
Learn More
Maxim Gorlachev
Chief Investment Officer
Maxim Gorlachev
Chief Investment Officer
Venture capital fund founder with Silicon Valley experience.
Learn More
07 Insights & Resources

Follow the latest developments and trends in the investment industry

1 +
Insight Articles
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Introduction to Investing and Its Key Benefits
bisbuzz2
Asset Allocation Strategies in Investment Portfolios: Risk Optimization and Yield Enhancement
bisbuzz3
Fund Portfolio Management Tools and Strategies: Allocation Optimization and Risk Mitigation
bisbuzz4
Fund Asset Diversification: A Strategy for Effective Investment Management
bisbuzz5
Understanding Venture Capital Funds and Their Management

Contact Us

We understand the importance of an integrated approach.

Address
Office 24, 47 Syganak Street, Yesil District, Astana, Z05K7B3, Republic of Kazakhstan
Email
info@adalintegritas.com
Telephone
+7 771 345 02 52
+7 701 713 4044
+44 7443 888414

Submit an Inquiry

Our experts will contact you shortly.