Eng
Balanced Fund(AMBAL)
Risk level high
Fund management fee 1,15%*
Fund management fee 1,15%*
Equity ≤
50%
Fixed Income Instruments ≥
50%
*Including custodian and registrar fees
Performance history 30/07/2026
Share Class
-
NOMINAL (INITIAL) VALUE:
1 000 AMD
NAV per share
re-evaluated daily
2653.9355
Weekly
0.23 %
Year to date(YTD)
4.55 %
Last year
12.39 %
Last 12 months
11.33 %
For the last three years(annualized)
10.90 %
For the last five years (annualized)
6.44 %
Since inception (annualized)
since inception date: 11/03/2014
8.19 %
Performance by years
12.39%
Fund's profitability indicators include expenses and payments paid at the expense of the fund assets.Past performance is not a guarantee or a reliable indicator for future performance and returns.
The investment objective of the Balanced fund is to maximize the total return on assets, by investing in fixed income and equity instruments at acceptable level of risk. The assets of the Fund can be invested in money market instruments, government and corporate bonds, bank deposits and equities, denominated in AMD and foreign currency, as well as in exchange traded funds (ETFs) and mutual funds, investing solely in above mentioned instruments.
Characteristics
- Legal status Contractual, standard, open-ended investment fund
-
Risk level
risk is associated with exposure to equitieshigh
- Investing in equity instruments Maximum 50%
-
Distribution of fund income
on the principle of compound interest, i.e. performance is calculated based on both the initial principal and the accumulated interest from previous periodsIncomes are reinvested
- Fund manager Hrayr Aslanyan, Anush Amirjanyan
- Inception date 11/03/2014
- Fund currency AMD
-
NAV calculation frequency
the time period when the fund's net asset value is calculated and reported to the RegistrarDaily
-
NAV per unit publication time
no later than the end of business day: defined by 10/09 Regulation of the Central Bank of Armenia15:00
-
Fund's net assets
assets minus accrued liabilities11257825573.66
-
Share nominal value
defined by RA Government1 000
-
NAV per share
re-evaluated daily2653.9355
-
The amount of participation of the fund manager
as of 30/06/2026146 726 895
- Entry charge (maximum) 0.00%
- Exit charge (maximum) 3.00%
- The amount of management fee including custodian fee 1.15% per annum
- Performance fees No
- Guarantee fund fee 0,02% per annum
-
Transaction costs
According to Regulation 10/12 on “Items and Maximum Amounts of Costs by the Use of Mandatory Pension Fund Assets”Maximum 0.1%
-
Audit fee
According to Armenian legislation, the maximum annual fee for an external audit cannot exceed AMD 17 million.179 078 included VAT
- Taxes Fund is not taxable
Redemption price of a unit may be less than the available net asset value per unit (at the time when the application is submitted to CDA) by an amount equal to the fees and expenses stipulated in the fund's rules.
The procedure for repurchasing, repaying, terms and conditions of pension fund shares are defined in the fund rules.
Fund rules
Responsible Investment policy
Working hours
Monday-Friday
09:00-18:00
Interested parties
Asset Management
Amundi-Acba Asset Management
10 V. Sargsyan, premises 100-101, Yerevan 0010, RA
(+374) 11 31 00 00
info-armenia@amundi.com
https://amundi-acba.am
Custodian and Registrar
Central Depository of Armenia
Fund Administration Agent
CACEIS FA
External auditor
KPMG Armenia
Erebuni Plaza Business Center, 8-th floor, 26/1 Vazgen Sargsyan Street, Yerevan 0010, Armenia
(+374) 10 59 59 99
general@kpmg.co.am
https://kpmg.com/am/en/home.html
How to choose this fund?
Online:
1. My account of Central Depository of Armenia, if you have ID card and card reader, you need:
Connect the identification card reader to the computer and insert your identification card into the deviceEnter the PIN code provided with the identification cardGo to "My Applications" section, select "Request for Mandatory Pension Fund and Pension Fund Manager" application and fill it outAfter completing the application, click the "Save" button and then the "Accept" button.2. If you have Mobile Identification card (mID), you need:
Click the "Verification" buttonClick the "Identification" buttonChoose the "Mobile Identification Card" optionEnter phone numberClick the "Log in" buttonSelect "Confirm" in the window that opens on the mobile phoneEnter the PIN codeTake the necessary actions3. Through CDA Online application (if there is a securities account).
4. Through Converse Mobile application.
5. Through AraratMobile application.
6. Through Account Operators
- Visit one of the following Account Operators, present ID card or passport and public service number (social security card)
Account Operators are:
Tel: (+374 10) 51 45 14 Head Office and Branches
Tel: (+374 10) 59 23 23 Head Office and Branches
Tel: (+374 10) 51 12 11 Head Office and Branches
Tel: (+374 12) 22 22 22 Head Office and Branches 
Tel: (+374 10) 59 20 20 Head Office and Branches The account operator is an intermediary organization between the registrar of participants, the Central Depository of Armenia, and participants of the funded pension system.
Changing the pension fund manager is free of charge once a year. In case of further changes during the year, a redemption fee (1%) is charged. Details are provided in the fund rules.
Fund performance dynamics
Fund performance since inception (as for 1000)
Performance history 30/07/2026
Share Class
-
NAV per share
re-evaluated daily
2653.9355
Weekly
0.23 %
Year to date(YTD)
4.55 %
Last year
12.39 %
Last 12 months
11.33 %
For the last three years(annualized)
10.90 %
For the last five years (annualized)
6.44 %
Since inception (annualized)
8.19 %
Performance analytics data since inception
- Maximum drawdown -12.44%
- Recovery period (days) 335
- Worst month 06/2022
- Lowest return -5.00%
- Best month 11/2020
- Highest return 4.04%
Risk analysis data
- 1 year 4.55%
- 3 years 4.45%
- 5 years 4.71%
- Inception to date 4.29%
Volatility is a statistical indicator that measures an asset’s variations around its average value. The higher the value of the volatility index, the riskier is the asset.
Fund structure
Structure by
- Asset classes
- Currency
The movement of assets under management
| Date | Assets | NAV per share |
|---|---|---|
|
Date
30/01/2026
|
Assets
10,240,875,536
|
NAV per share
2,579.22
|
|
Date
27/02/2026
|
Assets
10,391,091,756
|
NAV per share
2,612.96
|
|
Date
31/03/2026
|
Assets
10,245,382,870
|
NAV per share
2,521.05
|
|
Date
30/04/2026
|
Assets
10,684,222,178
|
NAV per share
2,597.63
|
|
Date
29/05/2026
|
Assets
10,982,839,428
|
NAV per share
2,642.07
|
|
Date
30/06/2026
|
Assets
11,193,900,846
|
NAV per share
2,660.21
|
Global distribution
- By region
- By country
- By sector
The exposures are calculated based on underlying assets
The exposures are calculated based on underlying assets
The exposures are calculated based on underlying assets
Breakdown by
- Country of listed securities
- Deposit by country
- Issuer country of investment funds
- Country of derivatives counterparty
Bond analysis
Structure by
- Issuer type
- Rating
- Countries
- Currencies
The exposures are calculated based on underlying assets
The exposures are calculated based on underlying assets
Distribution of government bonds by countries
The exposures are calculated based on underlying assets
Equity analysis
Structure by
- Geographic area
- Sector
- Country
- Market capitalization
The exposures are calculated based on underlying assets
The exposures are calculated based on underlying assets
The exposures are calculated based on underlying assets
Fund Manager's Comment
Past performance is not a guarantee or a reliable indicator for future performance and returns..
Reports
- 2026
- 2025
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
Funds
Updated 29.07.2026 | 15:00
In June, global financial markets exhibited mixed dynamics.
Investor attention was focused on easing inflation expectations, central bank monetary policy, and a decline in geopolitical risks.
Equities: In the US, there was a rotation toward traditional and small-cap companies amid a decline in technology sector stocks during the month. Supported by a favourable macroeconomic environment, European markets posted gains, while Japanese equities maintained positive momentum. At the same time, emerging markets, particularly Asia, delivered weak performance, mainly due to the decline in the Hong Kong market.
Given market conditions and our expectations, we reduced the weight of US and Chinese equities, as well as money market funds, and increased the weight of technology equities and equities in emerging Asian countries. The weight of foreign equities in the fund stood at 35.9%, compared with 36.3% in the previous month.
Government bonds: Government bonds in developed and emerging markets delivered moderately positive performance in June. The easing of inflation expectations amid lower oil prices supported market stability, although central banks continued to maintain a cautious stance.
The Armenian government bond yield curve showed mixed movements. In the short-term segment (up to 1 year), yields increased somewhat, reflecting the Central Bank’s decision to keep the refinancing rate unchanged and a market reassessment of a more gradual pace of monetary easing. At the same time, sustained demand from foreign and local investors for medium- and long-term bonds contributed to lower yields in those segments.
Corporate bonds: Positive sentiment persisted in corporate bond markets. European investment-grade and high-yield bonds outperformed their US counterparts amid tighter credit spreads and stable investor demand.
FX market: The Armenian dram appreciated against the US dollar, euro, and British pound by 0.1%, 2.2%, and 1.4%, respectively.
The decrease in foreign currency assets in the fund from 37.3% to 36.7% was driven by inflows of cash.
In June, the fund returned 0.69%. The largest positive contribution to performance came from Armenian investments, followed by foreign equities.