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