Total assets of two pension funds of Armenia reached $ 325 million by 2019

ArmInfo.Total assets managed by two pension funds of Armenia by January 1, 2019 reached 157.2 billion drams ($ 325 million) or 2.6% of GDP (against 1.9% in 2017). This is noted in the annual Financial Stability Report 2018 of the Central Bank of the Republic of Armenia The structure "AMUNDI-ACBA Asset Management Armenia" funds at the end of 2018 looks as follows:: conservative - 77 billion drams (96.6% of the total), balanced - 1.7 billion drams (2.1%), Fixed income - 988 million drams (1.2%). "C-QUADRAT AMPEGA Asset Management Armenia" are distributed among managed funds as follows: conservative - 76.2 billion drams (98.4% of the total), balanced - 749 million drams (1%), Fixed income - 509 million drams (0.6%).

In terms of funds investment funds, 33% of assets are cash and deposits (an YOY growth of 3 percentage points). 30% of the assets (YOY decline by 2 percentage points) or 47 billion drams are investments in government bonds (the average maturity is 9 years, and the weighted average yield is 8.7%). The share of investments in securities of foreign investment funds accounts for 25% of the assets (YOY decline of 3 percentage points). And investments in non-government bonds rose by 1 pp - up to 10% of assets. Following the results of 2018, investments in Armenian Eurobonds amounted to 380 million drams. According to the results of the reporting year, the share of the foreign exchange component in the assets structure of pension funds reached 29.5% or 46.4 billion drams, of which the dominant part - 39.3 billion.

Falls to securities of foreign investment funds. In 2018, the return on assets of pension funds was 4.3%, and since the start of the funded pension system (from 2014) to December 31,2018, the yield reached 48.2%. The two pension funds in total, there are about 323 thousand active members. To note, the multi-level funded pension system, mandatory for persons born after January 1, 1974 (for citizens born before January 1, 1974, a distributive pension system is in effect) introduced in Armenia from January 1, 2014. As part of the mandatory funded pension system, there are two pension funds: Amundi- "AMUNDI-ACBA Asset Management Armenia" CJSC (since November 19, 2013) and "C- QUADRAT AMPEGA Asset Management Armenia" LLC (since November 29, 2013). The shareholders of "AMUNDI-ACBA Asset Management Armenia" are the French company - 51% and ACBA-Credit Agricole Bank - 49%. The shareholders of "C-QUADRAT AMPEGA Asset Management Armenia" LLC are the Austrian C-QUADRAT Investment AG investment company - 74.9% and the German Talanx Asset Management GmbH company - 25.1%.