Eng
Fixed Income Fund(AMFIX)
Risk level low
Fund management fee 0,85%*
Fund management fee 0,85%*
Equity
0%
Fixed Income Instruments
100%
*Including custodian and registrar fees
Performance history as of 08/09/2026
Share Class
-
NOMINAL (INITIAL) VALUE:
1 000 AMD
NAV per share
re-evaluated daily
2433.704
Weekly
0.16 %
Year to date(YTD)
4.12 %
Last year
10.07 %
Last 12 months
8.26 %
For the last three years(annualized)
8.75 %
For the last five years (annualized)
6.23 %
Since inception (annualized)
since inception date: 11/03/2014
7.37 %
Performance by years
10.07%
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 Fixed income fund is to maximize the total return on assets, by investing only in fixed income instruments at acceptable level of risk. The assets of the Fund can be invested in money market instruments, government and corporate bonds, bank deposits, 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 equitieslow
- Investing in equity instruments 0%
-
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 liabilities7938529629.43
-
Share nominal value
defined by RA Government1 000
-
NAV per share
re-evaluated daily2433.704
-
The amount of participation of the fund manager
as of: 31/08/2026103 989 804
- Entry charge (maximum) 0.00%
- Exit charge (maximum) 3.00%
- The amount of management fee including custodian fee 0.85% 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.119 859,9 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.
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
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.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 actionsThrough CDA Online application (if there is a securities account).Through Converse Mobile application.Through AraratMobile application.Through Account Operators
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.
- 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 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 08/09/2026
Share Class
-
NAV per share
re-evaluated daily
2433.704
Weekly
0.16 %
Year to date(YTD)
4.12 %
Last year
10.07 %
Last 12 months
8.26 %
For the last three years(annualized)
8.75 %
For the last five years (annualized)
6.23 %
Since inception (annualized)
7.37 %
Performance analytics data since inception
- Maximum drawdown -12.15%
- Recovery period (days) 414
- Worst month 12/2014
- Lowest return -9.42%
- Best month 09/2016
- Highest return 2.42%
Risk analysis data
- 1 year 2.00%
- 3 years 1.78%
- 5 years 2.50%
- Inception to date 3.01%
Volatility is a statistical indicator that measures an asset’s variations around its average value. The higher the value of the volatility index, more risky is the asset.
Fund structure
Structure by
- Asset classes
- Currency
The movement of assets under management
| Date | Assets | NAV per share |
|---|---|---|
|
Date
27/02/2026
|
Assets
7,092,875,136
|
NAV per share
2,396.68
|
|
Date
31/03/2026
|
Assets
7,174,351,937
|
NAV per share
2,361.69
|
|
Date
30/04/2026
|
Assets
7,308,838,716
|
NAV per share
2,370.87
|
|
Date
29/05/2026
|
Assets
7,450,124,939
|
NAV per share
2,385.33
|
|
Date
30/06/2026
|
Assets
7,612,903,975
|
NAV per share
2,398.24
|
|
Date
31/07/2026
|
Assets
7,764,225,779
|
NAV per share
2,412.28
|
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
Fund Manager's Comment
Past performance is not a guarantee or a reliable indicator for current or future performance and returns.
Reports
- 2026
- 2025
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
Funds
The page has been updated: 08.09.2026 | 09:00
July began in global markets in a relatively calm environment, with volatility having declined. However, market sentiment shifted over the course of the month due to three key factors:
As a result, volatility in risky assets increased, credit indices weakened, and commodity markets benefited from the sharp rise in energy prices.
Bonds
The rise in oil prices and resilient economic data led investors to revise inflation and interest rate expectations, resulting in increased selling of government bonds in developed markets.
Central banks left interest rates unchanged but maintained cautious rhetoric. Government bond yields rose in both the U.S. and Europe. U.K. government bonds weakened, as persistent high inflation kept the Bank of England in a cautious stance. Emerging market government bonds also declined.
The yield curve of Armenian government bonds showed mixed movement. Yields on bonds with maturities of up to 15 years declined, while yields on bonds with maturities of 20 years and longer increased.
Corporate bond markets remained relatively resilient despite rate-driven selling. Spreads widened modestly, while investment-grade bonds outperformed high-yield instruments. European corporate bonds outperformed their U.S. counterparts, while high-yield markets in both the U.S. and Europe ended the month slightly negative.
Given market conditions and our outlook, we increased the weights of Armenian government bonds from 28.9% to 30.9% and Armenian corporate bonds from 12.6% to 13.1%, while the weight of deposits declined to 29.6% from 31.3% last month.
Currency Market
In the FX market, the Armenian dram appreciated by 0.5% against the U.S. dollar, while it depreciated against the euro and British pound by 0.4% and 1.1%, respectively.
The decline in the weight of foreign currency assets in the fund from 25.8% to 25.1% was driven by inflows of cash.
In July, the fund’s return was 0.59%. The largest positive contributors to performance were Armenian government bonds and deposits, followed by Armenian corporate bonds, while foreign investments had a negative contribution.