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4th Quarter, 2023

The AUM of Balanced (AMBAL), Conservative (AMCON) and Fixed Income (AMFIX) funds amounted more than 417 billion AMD as of December 29, 2023, about 74 billion AMD of which was generated from the income secured as a result of management.

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 as of December 29, 2023 was in the range of 7.1%-7.6% depending on the type of fund.

In Q4 2023, funds’ performance was positive due to the increase of foreign investments and the appreciation of the US dollar and euro against the Armenian dram.