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Pension funds' Investments and Performance
1st Quarter, 2025
The AUM of Balanced (AMBAL), Conservative (AMCON) and Fixed Income (AMFIX) funds amounted more than 598 billion AMD as of March 31, 2025, about 128 billion AMD of which, about 21.4%, was generated from the income.
The investments in Armenia and abroad include different asset classes, such as local government and corporate bonds, foreign bonds and equity ETFs and mutual funds, bank deposits, etc.
Since the inception, the annualized performance of Balanced, Conservative and Fixed income funds was in the range of 7.3% - 7.7%, depending on the type of fund as of March 31, 2025.
In Q1 2025, the funds’ performance was positive with the strongest contribution coming from Armenian government bonds. This was followed by bank deposits and Armenian corporate bonds. Foreign fixed-income instruments and equities from emerging markets also contributed positively. In contrast, U.S. equities had a negative impact on overall returns.
