Wednesday, November 16 2016 19:38
Karine Melikyan

Two pension funds accumulated 57.2 bln drams as of Nov 1 2016 within mandatory accumulative pension system

Two pension funds accumulated 57.2 bln drams as of Nov 1 2016 within mandatory accumulative pension system

ArmInfo. Within mandatory accumulative pension system the number of participants of the two pension funds-C-QUADRAT Ampega Asset Management Armenia and Amundi-ACBA- Asset-Management has reached 155 thousand people by November 1, 2016. 65 thousand of them are representatives of state sector and remaining 90 thousand of private sector. The press-service of the Armenia's Central Bank has told ArmInfo that from the moment of creation of these two funds (November 2013) their yield has reached 25.9% (the cost of one common share has grew from 1000 to 1259 drams). For the 10 months of 2016 yield of the pension funds totaled annual average 14.4%.

According to the source as of November 1 2016 the abovementioned funds accumulated 57.2 bln drams, 29% of which or 17 bln drams are deposits in banks, 5% or 2.8 bln are invested in bonds of corporate, mortgage and international organizations, 41% or 23.3 bln in state bonds, 25% or 14.1 bln in securities of foreign investment funds (ETF - Exchanged traded funds, including stocks of such companies as Apple, Google, Microsoft, Nestle, Toyota, Nissan, Sony, Coca-Cola etc., as well as US state bonds and Gold mining fund securities).

HayPost, Araratbank, Ardshinbank, HSBC Bank (Armenia), INECOBANK, Converse Bank, Armbusinessbank and VTB Bank (Armenia) are pension account operators. Citizens can receive information about the funds on their account via epension.am website, identification card, as well as through ATMs of ArCa network.

To note, in November 2013 the Armenian Central Bank (CB) registered the pension funds C-QUADRAT Ampega Asset Management Armenia and Amundi-ACBA- Asset-Management.  The shareholders of Amundi- ACBA Asset Management Armenia CJSC (registered by CB of Armenia on 19 November) are Amundi Asset Management with 51% shares and ACBA-Credit Agricole Bank with 49% shares. French Amundi manages $5 trillion assets.

"C-QUADRAT Ampega Asset Management Armenia" received the CB license on 29 November 2013. 74.9% shares of "C-QUADRAT Ampega Asset Management Armenia" are owned by C- QUADRAT Investment and 25.1% by German Talanx Asset Management GmbH. The group manages $130 bln assets.

These companies offer three strategies of investment: fixed yield pension fund (FIX), conservative pension fund (CON) and Balanced pension fund (BAL). The customers are free to choose one of the given strategies. In particular, the pension fund with sustainable income implies investments of the 100% package of a customer in the debt obligations with fixed yield (government bonds and deposits of highly reliable banks) to avoid risks. The conservative fund implies investment of 75% of a customer package in the debt obligations with fixed yield and the remaining 25% in equity securities (shares). Unlike the first two funds, the balanced fund implies equal distribution of funds (50%/50%) in the debt obligations with fixed yield and shares where a beneficiary must know about the risk connected with fall of stock prices depending on the market condition and the state of the emitter- company.

To recall, the compulsory accumulative pension system was introduced in Armenia on January 1 2014 and applies to the citizens born after Jan 1 1974. According to the new law on Accumulated pensions, the minimal pension in the country will be equal to the minimum wage, while the basic pension will total 150% of the minimum wage. Starting Jan 1 2014, 5% of citizens' salaries have been transferred to their personal accumulative accounts. The government will transfer a similar amount (but no more than 25,000 drams).


News
Deputy Minister of Economy of Armenia will visit Kyiv to discuss  control of prices for basic-needs products and conclusion of futures  contractsDeputy Minister of Economy of Armenia will visit Kyiv to discuss  control of prices for basic-needs products and conclusion of futures  contracts
Armen Sarkissian attended 5th Conference of Armen Sarkissian attended 5th Conference of "Future Investment  Initiative" in Saudi Arabia
Ameriabank and HSBC Armenia to provide their customers access to each other’s ATMs without additional feesAmeriabank and HSBC Armenia to provide their customers access to each other’s ATMs without additional fees
Syrian Ambassador proposed to Armenian Economy Minister to organize  exhibition with participation of Syrian business circleSyrian Ambassador proposed to Armenian Economy Minister to organize  exhibition with participation of Syrian business circle
Gluttony must be stopped: Head of Economy Ministry on reduction of  New Year holidaysGluttony must be stopped: Head of Economy Ministry on reduction of  New Year holidays
 Moscow is optimistic about prospects for investments in Armenian  economy Moscow is optimistic about prospects for investments in Armenian  economy
Seminars with assistance from OECD and US attache to Germany will be  organized for Armenia`s SRC employees Seminars with assistance from OECD and US attache to Germany will be  organized for Armenia`s SRC employees 
In 2022, capital investment of Central Bank will amount to 7.3  billion drams, administrative expenses - 8.5 billion dramsIn 2022, capital investment of Central Bank will amount to 7.3  billion drams, administrative expenses - 8.5 billion drams
A success story - Under one roofA success story - Under one roof
CBA: Large-scale state investments will provide 7% GDP growth in  Armenia in 2022 CBA: Large-scale state investments will provide 7% GDP growth in  Armenia in 2022 
Armenia to more than double budget assistance to Artsakh in 2022Armenia to more than double budget assistance to Artsakh in 2022
Ministry of Finance: Armenia will return to permissible limits of  government debt allowed by law by 2026Ministry of Finance: Armenia will return to permissible limits of  government debt allowed by law by 2026
Armenia`s economic activity increased by 4.4% per annum for 9 months  of 2021Armenia`s economic activity increased by 4.4% per annum for 9 months  of 2021
Science funding to increase by 83% in 2022: Draft state budget of  ArmeniaScience funding to increase by 83% in 2022: Draft state budget of  Armenia
Armenia will allocate 32% more for infrastructure development in  2022: PashinyanArmenia will allocate 32% more for infrastructure development in  2022: Pashinyan
Armenia`s defense budget to grow by 11% in 2022: PremierArmenia`s defense budget to grow by 11% in 2022: Premier
Pashinyan hopes for successful implementation of number of large  investment projects in  field of metallurgyPashinyan hopes for successful implementation of number of large  investment projects in  field of metallurgy
Martin Galstyan: Armenia can become a home for numerous innovationsMartin Galstyan: Armenia can become a home for numerous innovations
Armenia and San Marino discuss opportunities for cooperation in the field of High TechnologiesArmenia and San Marino discuss opportunities for cooperation in the field of High Technologies
Volume of dollar transactions decreased by 65.3% on the foreign exchange interbank market for October 18-22Volume of dollar transactions decreased by 65.3% on the foreign exchange interbank market for October 18-22
Hakob Arshakyan: By 2025, Armenia`s engineering turnover will reach 500 billion drams, and the staff- 35 thousand peopleHakob Arshakyan: By 2025, Armenia`s engineering turnover will reach 500 billion drams, and the staff- 35 thousand people
Deputy Minister of Economy of Armenia was sent to Moscow on October  24-26Deputy Minister of Economy of Armenia was sent to Moscow on October 24-26
Armenia simplifies licensing process for foreign companies for a  number of areas of activityArmenia simplifies licensing process for foreign companies for a  number of areas of activity
Copper smelter may be launched in Armenia in two to three yearsCopper smelter may be launched in Armenia in two to three years
Iranian industrial park to be established in ArmeniaIranian industrial park to be established in Armenia
Armenia`s insurance sector increased payments to state treasury by  31.3%, in Jen-Sep of 2021Armenia`s insurance sector increased payments to state treasury by  31.3%, in Jen-Sep of 2021
EDB to provide Armenia with  $ 3mln grant to fight coronavirus  infectionEDB to provide Armenia with  $ 3mln grant to fight coronavirus  infection
Ameriabank tops list of largest taxpayers among commercial banks in  Armenia in 9 monthsAmeriabank tops list of largest taxpayers among commercial banks in  Armenia in 9 months
Gazprom Armenia returned to the leading position in the list of large  taxpayersGazprom Armenia returned to the leading position in the list of large  taxpayers
Telecommunications operators of Armenia for 9 months of 2021  increased tax payments to the state treasury by 16.3%Telecommunications operators of Armenia for 9 months of 2021  increased tax payments to the state treasury by 16.3%
PSRC Head: If the negotiations are concluded successfully, the water  tariff will be increased by only 20 drams PSRC Head: If the negotiations are concluded successfully, the water  tariff will be increased by only 20 drams 
EDB: Consumer demand recovery slows down in Armenia, further rate  hikes are possibleEDB: Consumer demand recovery slows down in Armenia, further rate  hikes are possible
Head of regulator refrains from confirming whether there will be  increase in gas and electricity tariffs in 2022Head of regulator refrains from confirming whether there will be  increase in gas and electricity tariffs in 2022
EEC intends to reach 93.6% in terms of food security by 2022EEC intends to reach 93.6% in terms of food security by 2022
Head of PSRC: Frequent power outages are not a consequence of the  post-war situationHead of PSRC: Frequent power outages are not a consequence of the  post-war situation
The USA finally determined the duties on the import of aluminum foil  from Armenia and a number of other countriesThe USA finally determined the duties on the import of aluminum foil  from Armenia and a number of other countries
 Ministry of Finance: Most of the purchases from one supplier are  carried out by the healthcare system  Ministry of Finance: Most of the purchases from one supplier are  carried out by the healthcare system 
Courts will consider complaints about violations during public  procurement auctionsCourts will consider complaints about violations during public  procurement auctions
Dmitry Volvach: Russia is investing over $ 1 billion in the Armenian  economyDmitry Volvach: Russia is investing over $ 1 billion in the Armenian  economy
Minister: Development of decentralized interregional cooperation is a  priority task of the Armenian governmentMinister: Development of decentralized interregional cooperation is a  priority task of the Armenian government
Is it realistic to maintain the current gas price? Deputy Prime  Minister of Armenia explained Is it realistic to maintain the current gas price? Deputy Prime  Minister of Armenia explained 
RA Economy Minister discussed Armenia`s investment potential with  U.S. Ambassador RA Economy Minister discussed Armenia`s investment potential with  U.S. Ambassador 
Armenia and Russia have developed common approaches to attracting  investmentArmenia and Russia have developed common approaches to attracting  investment
32nd energy charter conference ministerial meeting to be held in  Yerevan32nd energy charter conference ministerial meeting to be held in  Yerevan
Veronika Nikishina: REC Group is interested in close cooperation  with Armenia in a wide range of integration projectsVeronika Nikishina: REC Group is interested in close cooperation  with Armenia in a wide range of integration projects
For 9 months of 2021, public debt of Armenia increased by $ 1.069  billionFor 9 months of 2021, public debt of Armenia increased by $ 1.069  billion
Joint Project of HSBC Group and Orran Benevolent Organisation Supports 200 Young People in Regions to Get Jobs and Start their BusinessJoint Project of HSBC Group and Orran Benevolent Organisation Supports 200 Young People in Regions to Get Jobs and Start their Business
Armenian NPP connected to RA unified power grid since October 17Armenian NPP connected to RA unified power grid since October 17
Leadership of SRC of Armenia will be sent to MoscowLeadership of SRC of Armenia will be sent to Moscow
Russia`s trade representative: Armenian market is traditionally attractive for RussiaRussia`s trade representative: Armenian market is traditionally attractive for Russia
5th meeting of Armenian-Czech Intergovernmental Commission on  Economic Cooperation held in Yerevan5th meeting of Armenian-Czech Intergovernmental Commission on  Economic Cooperation held in Yerevan
Make payments via Idram in online stores, get free delivery or a cashback and take part in the drawMake payments via Idram in online stores, get free delivery or a cashback and take part in the draw
Interest rates on loans and deposits have grownInterest rates on loans and deposits have grown
In Moscow, Suren Papikyan discussed issues related to In Moscow, Suren Papikyan discussed issues related to "North-South  Power Corridor" and construction of a new nuclear power unit in  Armenia 
Armenian Minister of Economy received Deputy Minister of Industry and  Trade of Czech RepublicArmenian Minister of Economy received Deputy Minister of Industry and  Trade of Czech Republic
Issue of feasibility of creating institution of business ombudsman is  being discussed at RA Economy Ministry Issue of feasibility of creating institution of business ombudsman is  being discussed at RA Economy Ministry 
Armenia is ready to cooperate in developing common approach to  protect EAEU internal market in case of pressure from third partiesArmenia is ready to cooperate in developing common approach to  protect EAEU internal market in case of pressure from third parties
Armenian government approves draft decision on increasing ANIF  authorized capitalArmenian government approves draft decision on increasing ANIF  authorized capital
Pashinyan: Formation of the common energy market of the EAEU is a  prerequisite for the full realization of the potential of economic  integrationPashinyan: Formation of the common energy market of the EAEU is a  prerequisite for the full realization of the potential of economic  integration
Official supplier of furniture for shops of number of world brands  and a pharmaceutical company received tax incentive from RA  Government Official supplier of furniture for shops of number of world brands  and a pharmaceutical company received tax incentive from RA  Government 
Read more


Exchange rates
27.10.2021
RUB6.78-0.10
USD477.310.37
EUR553.35-0.66
GBP655.63-2.26
CAD384.52-1.07
JPY42.000.17
CNY74.750.10
CHF519.611.37