ArmInfo. The Minister of Economy of Armenia Gevorg Papoyan received the delegation headed by Olivier Marie, a member of the General Management Committee of the French company Amundi, CEO of CPR Asset Management. The delegation also included Chairman of the Board of Directors of Amundi-ACBA Asset Management, CEO of ACBA Bank Hakob Andreasyan.
As reported by the press service of the Ministry of Economy of the Republic of Armenia, the Minister first congratulated Amundi-ACBA Asset Management on 10 years of operation in Armenia and successful management of accumulative pension funds, wishing them further success in their work.
The meeting discussed the development of business culture in Armenia, increasing the efficiency of financial markets, the evolution of accumulative pension funds and the need to develop the capital market. Both sides emphasized the steps aimed at increasing the financial literacy of citizens, which will significantly contribute to the effective management of financial resources.
The Minister was also presented with the company's future plans and cooperation prospects.
From the moment the system was introduced until today, there have been only two pension fund managers in Armenia who received licenses from the Central Bank of the Republic of Armenia to manage pension funds within the framework of the ONPS in 2013: C-Quadrat Ampega Asset Management Armenia and Amundi-ACBA Asset Management. The shareholders of the first are the Austrian investment company C- Quadrat Investment AG and the German Talanx Asset Management. In terms of assets (about 150 billion euros), Talanx Asset Management GmbH is one of the largest insurance and financial groups in Europe, represented in 150 countries. The shareholders of the second are the French company Amundi, which manages assets in excess of 2.2 trillion euros in 35 countries, and the Armenian Acba Bank.
Management companies offer three investment models: stable income, conservative and balanced. According to the rules, the stable income model assumes that assets cannot be invested in equity securities and derivative instruments based on them; according to the terms of the conservative model, the weight of equity securities and derivative instruments acquired for the purpose of hedging them in the fund's assets cannot exceed 25%; according to the rules of the balanced model, the weight of equity securities and derivative instruments acquired for the purpose of hedging them in the fund's assets cannot exceed 50%. Which of the specified strategies is used to place funds, the participant of the system decides for himself, and his transition from one model to another is free once within one year. Those who did not initially make this choice, the system automatically places in a medium, moderate risk fund, that is, conservative. As the risk level increases, so does the return on investment.
As of the end of August 2024, the number of participants in the three Amundi-ACBA funds reached 495 thousand people, the volume of managed assets was 517 billion drams (annual growth is estimated at 30- 40% on average). Of these, 21% or 107 billion drams was income provided as a result of management. Over 10 years, the average annual yield of citizens' pension accounts managed by the company reached 7.2- 7.8%. Thus, if the cost of one share at the time of the fund's creation was, say, 1000 drams, now it exceeds 2000 drams. All three funds managed by Amundi-Akba have grown by 100 billion drams in the first 8 months of this year, of which the income since the beginning of the year alone was 34 billion drams, the yield reached 8.4%.
