Pension funds’ investments and performance
2nd Quarter, 2022
The net assets under management of Balanced (AMBAL), Conservative (AMCON) and Fixed Income (AMFIX) funds amounted to around 255 billion AMD as of June 30, 2022.
The funds invested in different asset classes, such as local government and corporate bonds, foreign bond and equity ETFs and mutual funds, bank deposits, etc.
Since inception annualized performance was in the range of 6.8%-7.0%. In Q1, 2022 fund’s performances were negative, due to the decrease of RA government and foreign bonds prices, which is driven by։
The exchange rate between the US dollar and the Euro with the significant devaluation of the Armenian dram,
With the decrease in the prices of equity and debt securities in the international financial markets․
Fund losses recorded in the first half of the year have not been realized, and the beneficiaries of the cumulative pension system do not have to redeem their shares in the fund at a low value in order to receive a pension.