YEREVAN, May 8. /ARKA/. At the end of March, 2020, the amount of assets managed by Amundi-ACBA Asset Management stood at about 136 billion drams, the press service of ACBA-CREDIT AGRICOLE BANK reported today.
According to a bank press release, the assets are diversified -directly or indirectly – in different parts of the world and countries, in different classes of assets and in different currencies.
The coronavirus pandemic is adversely affecting international financial markets. However, this is most severely reflected in the global stock market, where some of indexes slashed by 20-25% in the first quarter of 2020.
According to the deputy director of Amundi-ACBA Asset Management Hrayr Aslanyan, this drop could not fail to have a negative impact on those Armenian pension funds, some of which were invested in shares. But, according to him, the impact was rather restrained.
“This is due to our actions. The record of the management of Armenian pension funds by Amundi-ACBA Asset Management indicates that over the past six years there were short periods during which the funds recorded negative results, but they were usually followed by longest periods of growth,” he said.
According to Aslanyan, as a result, from the moment of creation, the average annual profitability rate of the pension funds have been fluctuating in the range of 8.7-9.1%.
“When managing pension funds, Amundi-ACBA Asset Management is guided by the best interests of fund participants, taking advantage of the expertise and technical assistance of the French Amundi,” he said.
The company is controlled by the Central Bank of Armenia.
Amundi-ACBA Asset Management was founded by ACBA-CREDIT AGRICOLE BANK and the leading European asset manager, the French company Amundi. Amundi-ACBA Asset Management Company is one of two managers of Armenian funded pension systems.
ACBA was established in 1995 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0—-
