Monday, May 20 2019 18:12

ArmInfo. On May 20, Vice Premier of  Armenia Mher Grigoryan at a meeting with a delegation of the French  company AMUNDI, which holds a 51% stake in the pension fund  AMUNDI-ACBA Asset Management, stated that the Government is ready to  expand the scope of cooperation.

As the press service of the RA government told ArmInfo, the  delegation was headed by Deputy Chief Executive Officer of AMUNDI,  Director for Business Monitoring and Supervision Bernard de Wit. The  meeting was also attended by RA Minister of Finance Atom  Janjughazyan, Minister of Labor and Social Affairs Zaruhi Batoyan and  Deputy Chairman of the Central Bank of Armenia Nerses Yeritsyan.   Congratulating the guests on the celebration of the 5th anniversary  of PF "AMUNDI-ACBA Aset Management" scheduled for May 21, M.  Grigoryan stressed that the Government of Armenia is ready to develop  cooperation with a reliable and reputable partner represented by  "AMUNDI" company. M.  Grigoryan attached particular importance to the  participation of companies with transparent and sustainable practice  in the implementation of reforms.

Bernard de Wit, thanking for the reception, briefly presented the  company's activities.  The interlocutors agreed on the importance of  establishing a securities market for the development of the Armenian  financial market. The meeting participants stressed the need to raise  public awareness of the funded pension system, considering it a  priority for the development of the system and deepening cooperation.

At the end of the meeting, Armenian Deputy Prime Minister M.  Grigoryan stressed that the establishment and development of the  accumulative pension system is a very responsible undertaking, which  has a significant social, economic and financial impact.

Note that in Armenia, within the framework of the mandatory funded  pension system, introduced from January 1, 2014, there are two  pension funds - "AMUNDI-ACBA Aset Management" CJSC (since November  19, 2013) and "Tse-Kvadrat Amphega Aset Management Armenia" LLC (from  November 29, 2013). The shareholders of CJSC AMUNDI-ACBA Aset  Management are the French company AMUNDI - 51% and ACBA-Credit  Agricole Bank - 49%. Austrian investment company C-QUADRAT Investment  AG acts as shareholders of Tse-Kvadrat Ampega Aset Management Armenia  LLC - 74.9% and German company Talanx Asset Management GmbH - 25.1%.  Pension account operators are HayPost, ARARATBANK, Ardshinbank,  Armbusinessbank, HSBC Bank Armenia, INECOBANK, VTB Bank (Armenia) and  Converse Bank.

According to the pension funds provided by ArmInfo, the total assets  managed by the Pension Fund of Armenia reached 147.2 billion drams by  November 1, 2018, and their profitability in January-October  increased from 44% to 51%. In particular, at the reporting date, the  total managed assets of CJSC "AMUNDIAAKBA Aset Management" amounted  to 75 billion drams. The asset structure of AMUNDI- ACBA Aset  Management for managed funds is as follows: conservative - 72.2  billion drams (97% of the total), balanced - 1.7 billion drams (2%),  steadily profitable - 1 billion drams (1%). In terms of currency, AMD  investments are dominant: AMUNDI-ACBA Aset Management has 51.750  billion AMD. Then dollar investments follow: "AMUNDI-ACBA Aset  Management" - 17.250 billion drams. And the volume of European  investments in "AMUNDI-ACBA Aset Management" - 6 billion drams. 

By instruments, AMUNDI-ACBA Aset Management is dominated by  investments in government bonds - 24.750 billion drams. Amundi-ACBA  Aset Management investments in corporate bonds totaled 4.5 billion  drams. AMUNDI-ACBA Aset Management invested 7.5 billion drams in bond  funds (indices) and 12 billion drams in equity funds. The return on  assets by type of funds from AMUNDI-ACBA Aset Management is as  follows: balanced - 53.3% (from the start on October 10, 2018),  conservative - 49.3%, steady income - 47.9%.