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Amundi-Acba. A decade of success story and inspiring journey of development
Yerevan, October 3, 2024
Ten years ago, the French Amundi, the leading European asset manager, began its operations in Armenia, by founding the cumulative pension funds management company "Amundi-Acba Asset Management" in partnership with Acba Bank.
The activity of Amundi-Acba in Armenia played crucial role in the implementation of the pension reform. The process was based on an extensive study of international experience, localization and management of possible risks.
"Our primary goal is to ensure the financial independence and well-being of future pensioners. In the context of funded pension system implemented in Armenia, we have succeeded, and not only us, but also other beneficiaries, both the government and other players in the economy. The system operates smoothly, the cumulative contributions of the participants are transferred to the management companies on time, and the funds are invested to ensure that the participants of the system have the opportunity for a better retirement in their old age," said Jean Mazedjian, Chief Executive Officer of "Amundi-Acba Asset Management" CJSC.
"Amundi-Acba is fully established, and all the people involved in this project, moving forward despite many challenges, played a significant role. The business model of Amundi-Acba is unique and today it serves as an example for other countries” said Hakob Andreasyan, Chairman of the Board of Directors of Amundi-Acba.
Olivier Mariee, a member of the French Amundi General Management Committee and CEO of CPR Asset Management, stated: "The cooperation with Armenia is fantastic, we can say it has already evolved into friendship. In addition to managing pension funds, over these 10 years, efforts have also been made to develop financial markets and we will continue working in this direction. We are ready to bring the best practices and financial instruments here to contribute to the development of Armenia's economy. There is much work ahead of us."
In his speech, Deputy Prime Minister Mher Grigoryan mentioned that Amundi’s activities, as a respected international organization, were not only key to successful implementation of this important reform, but also an incentive for the international community to invest in Armenia and initiate big projects.
According to the Governor of the Central Bank of Armenia, Martin Galstyan, pension reforms are among the most complex reforms globally, and today we are celebrating one of the cornerstone achievements in our newly independent history - the 10th anniversary of the pension reforms. He emphasized the importance of Amundi's presence in Armenia, which has brought the world's best expertise in asset management, new culture, and continuous innovative solutions to the Armenian financial market.
The Ambassador Extraordinary and Plenipotentiary of France to the Republic of Armenia, Olivier Decottignies attended the event dedicated to the 10th anniversary of Amundi-Acba. He noted that the activity of Amundi-Acba in Armenia is truly invaluable. Pension funds can also focus on long-term strategic investments which are essential for strengthening Armenia.
As part of the event, Amundi-Acba Academy was announced, based on European expertise, will provide universities and students with knowledge and skills online aimed at promoting financial literacy and professional development.
“Amundi-Acba Academy is about reading and growing, building better defenses based on the knowledge, we're localizing the Amundi Academy” said Zarine Yeghiazaryan, Marketing and Communications Officer of Amundi-Acba.
The first memorandum of understanding was signed with the French University of Armenia and Armenian State University of Economics. Students will have access to online courses on Fundamental, Expert, CFA and ESG (environmental, social and governance) principles. The next memorandum will be with Yerevan State University. For a broader audience, Amundi-Acba will publish exclusive content and analyses from the Amundi Investment Institute translated into Armenian, covering the topics like geopolitics, macroeconomics and financial markets.
Amundi-Acba is supervised by the Central Bank of Armenia.
