Tue, 9 September
24.1 C
Yerevan
USD: 382.77 RUB: 4.70 EUR: 447.46 GEL: 142.16 GBP: 515.90

Armenia’s Central Bank awards license to AMUNDI-ACBA ASSET MANAGEMENT to run Armenian investment funds

YEREVAN, November 20. / ARKA /. Armenia’s Central Bank said today it has awarded a license to AMUNDI-ACBA ASSET MANAGEMENT jsc to run Armenian investment funds.

The regulator said its Board had registered AMUNDI-ACBA ASSET MANAGEMENT on November 19.

On November 18 finance minister David Sargsyan said French Amundi and German Talanx had been selected by Armenian government to take over as managers of Armenian pension funds. According to Sargsyan, annual pension savings in Armenia in 2014 are expected to be between $100 million and $150 million.

Deputy head of the Central Bank, Nerses Yeritsyan, said the managing companies are allowed to place 40 percent of the assets outside Armenia and 60% inside Armenia.

ACBA -CREDIT AGRICOLE BANK (formerly the Agricultural Cooperative Bank of Armenia) was established in 1995 as part of the EU TACIS program. In September 2006, the French Credit Agricole bought a large stake in it becoming its largest shareholder.

With more than 750 billion euros in assets under management, Amundi is one of the world market leaders in asset management. It has management teams operating in the major financial centres in Europe (Paris, London, Milan), in Asia (Japan, Hong-Kong, Singapore) and the US.

Amundi has more than 2,000 distribution agreements with leading platforms in Europe and Asia. One of its partners is the French Credit Agricole Bank. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Freedom Broker Armenia ranks as one of the largest taxpayer in Armenia

Freedom Broker Armenia has been recognized as one of the largest taxpayers in the country, underscoring its leadership in the investment sector and commitment to sustainable business practices.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Armenia to receive 45.3 million euros from ADB to improve healthcare quality

Armenia will receive 45.3 million euros from the Asian Development Bank (ADB) to improve healthcare quality, said First Deputy Minister of Health of the Republic of Armenia Lena Nanushyan during a meeting of the parliamentary standing committee on financial, credit and budgetary issues.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

LATEST NEWS

spot_imgspot_imgspot_img