On Thursday, September 26, Armenia’s Minister of Economy, Gevorg Papoyan, met with a delegation led by Olivier Mariée, a member of the executive committee of the French company Amundi and CEO of CPR Asset Management.
The delegation also included Hakob Andreasyan, Chairman of the Board of Directors of Amundi-ACBA Asset Management and CEO of ACBA Bank.
According to the ministry, the minister congratulated Amundi-ACBA Asset Management on its 10th anniversary of successful operations in Armenia and its effective management of pension savings funds, wishing the company continued success in its work.
During the meeting, the parties discussed the development of business culture in Armenia, increasing the efficiency of financial markets, the evolution of pension savings funds, and the need for capital market development.
Both sides emphasized the importance of initiatives aimed at improving financial literacy among citizens, which would significantly contribute to the effective management of financial resources.
Earlier, BMG reported that as of July 2024, the total assets of Armenia’s mandatory pension funds reached 959.5 billion drams ($2.46 billion).
The asset allocation shows a clear preference for a conservative strategy: balanced funds account for 10.7 billion drams ($27.5 million), conservative funds for 941 billion drams ($2.42 billion), and stable income funds for 7.7 billion drams ($19.8 million).
