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Nikol Pashinyan discussed with the leadership of the French company "AMUNDI" the tasks of pension reform

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21.05.2019
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Armenian Prime Minister  Nikol Pashinyan met on May 20 with the Deputy Chief Executive Officer  of AMUNDI Company Bernard de Wit, and the delegation headed by him.  Note that the French company "AMUNDI" is the main shareholder of the  pension fund CJSC "AMUNDI-ACBA Aset Management". 

As reported to ArmInfo in the press service of the Government of the  Republic of Armenia, the Prime Minister discussed with the management  of the company AMUNDI the tasks of pension reform in Armenia."Pension  reforms are important for Armenia, and this meeting- a good  opportunity to discuss the progress of cooperation and the prospects  for deepening the partnership, "said N. Pashinyan, stressing that the  government is interested in developing cooperation with partners  involved in the process, including AMUNDI-ACBA Aset Management CJSC. 

This will help pension reform and public awareness of the funded  pension system.For his part, Bernard de Wit stressed that AMUNDI-ACBA  Aset Management effectively cooperates with the Government and the  Central Bank, and is ready to continue joint work.The interlocutors  discussed issues related to ensuring the effectiveness of the  economic, social and financial components of the pension reform. In  particular, aspects such as capital market development, public  awareness raising, and the implementation of investment programs were  touched upon.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 Amundi-ACBA Aset Management CJSC 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%.

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