Fund management fee

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.
- Legal status Contractual, standard, open-ended investment fund
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risk is associated with exposure to equities
risk is associated with exposure to equitieshigh
- Investing in equity instruments Maximum 50%
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Secured investment returns are reinvested
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
- Since inception date 11/03/2014
- Fund currency AMD
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NAV CALCULATION FREQUENCY
the time period when the fund's net asset value is calculated and reported to the RegistrarDaily
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NAV PER UNIT PUBLICATION TIME
no later than the end of business day: defined by 10/09 Regulation of the Central Bank15:00
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Fund's net assets
assets minus accrued liabilities9050345136.44
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Share nominal value
defined by RA Government1 000
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NAV per share
re-evaluated daily2414.2304
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The amount of participation of the fund manager
as of 31/08/2025114 372 883
- Entry charge (maximum) 0.00%
- Exit charge (maximum) 3.00%
- The amount of management fee including custodian fee 1.15%
- Performance fees No
- Guarantee fund fee 0,02%
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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%
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Audit fee
In 2024, 17 Mio AMD from 26 Mio AMD will be paid by the funds, 9 Mio AMD by the Manager. In 2023, 17 Mio AMD from 25 Mio AMD was paid by the funds, 8 Mio AMD by the Manager. 17 Mio AMD is distributed proportionally among the 3 funds according to the net asset value of the given fund as of the last business day of the year preceding the given year.contractual
- 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.
- 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 BranchesTel: (+374 10) 59 23 23 Head Office and Branches Tel: (+374 10) 51 12 11 Head Office and BranchesTel: (+374 12) 22 22 22 Head Office and Branches Tel: (+374 10) 59 20 20 Head Office and Branches Tel: (+374 12) 22 22 22 Head Office and Branches
- Maximum drawdown -12.44%
- Recovery period (days) 335
- Lowest return -5.00%
- Highest return 4.04%
- Worst month 06/2022
- Best month 11/2020
- 1 year 4.99%
- 3 years 4.42%
- 5 years 4.68%
- Inception to date 4.26%
- Asset classes
- Currency
Date | Assets | NAV per share |
---|---|---|
Date
28/02/2025
|
Assets
7,766,967,573
|
NAV per share
2,291.69
|
Date
31/03/2025
|
Assets
8,021,033,791
|
NAV per share
2,270.12
|
Date
30/04/2025
|
Assets
8,172,722,742
|
NAV per share
2,284.22
|
Date
30/05/2025
|
Assets
8,390,901,768
|
NAV per share
2,315.32
|
Date
30/06/2025
|
Assets
8,644,349,405
|
NAV per share
2,356.61
|
Date
31/07/2025
|
Assets
8,795,264,433
|
NAV per share
2,374.58
|
- By regions
- By countries
- By sectors
- Country of listed securities
- Deposit by Country
- Issuer country of investment funds
- Country of derivatives counterparty
- Issuer type
- Rating
- Countries
- Currencies
- Geographic area
- Sector
- Countries
- Market capitalization
Past performance is not a guarantee or a reliable indicator for future performance and returns..
- 2025
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
During July, the fund implemented the following reallocations:
Although the share of foreign securities remained at the same levels as in previous month, structural adjustments were made.
July was marked by rising trade uncertainties in Emerging Asian markets, leading us to reduce our exposure in the region. Instead, we increased our allocation to European small-cap equities, as we expect the European Central Bank’s continued interest rate cuts to have a positive impact on their performance.
Regarding Armenian investments, we increased the share of Armenian government bonds from 30.7% to 31.2%, particularly in the long end of the yield curve, as we anticipated some upward movement in bond prices.
Cash inflows and developments in the foreign exchange market led to a decrease in the fund’s FX-denominated assets, from 33.9% to 33.4%.
In addition, we raised the allocation to term deposits, bringing it to 17.8% compared to 17.0% in the previous month.
As for performance, the fund delivered a monthly return of 0.6%. The positive contribution came from local investments, U.S. and Japanese equities, while U.S. Treasuries and European equities had a negative impact on performance.