Accumulated pension fund manager Amundi-Akba Asset Management is celebrating its 10th anniversary in Armenia.
Emphasizing social responsibility, the company comes up with a new project, wanting to be useful to all Armenian students. Amundi-Akba Academy is founded.
This initiative, based on the best practices of the French Amundi Academy as well as European countries, aims to provide universities and students with the knowledge and skills necessary for professional improvement.
The Amundi-Akba Academy includes four courses: fundamental, expert, financial (based on “Certified Financial Analyst” (CFA) materials) and ESG (CFA). A key focus will be ESG (Environmental, Social and Governance Principles).
“We will sign memorandums with Armenian universities that have economic and financial faculties. As a result of the cooperation, we will provide students with free access to the courses, and they will have the opportunity to participate in the programs of the academy. The program is aimed at promoting the development of financial literacy, and we are convinced that informed investors will contribute to forming a better financial market and financial eco-system,” said Zarine Yeghiazaryan.
Executive Director of “Amundi-Akba Asset Management” CJSC Jean Mazejian also expressed that during the 10 years of activity, the company has carried out enough works to develop the financial market.
“We presented new products and solutions that were not available in Armenia before, we will see the result in the market,” said Zhan Mazejian.
The company manages about 517 billion AMD assets, which belong to 495,000 participants. 66% of the mentioned 517 billion AMD assets were invested in Armenia, and the other part is diversified all over the world.
“We can say that the pension system has succeeded. This is important for Armenia, the Armenian people should be sure about their future, the citizen should be sure that he will receive a normal pension at retirement age,” said Zhan Mazejian.
“But today we can clearly say that the funds have been viable, passing through many shocks. As of August of this year, the assets of the funds managed by us totaled 517 billion drams, about 21 percent of them were formed as a result of management, generating 107 billion drams of income,” Hrayr Aslanyan informed.
During its ten years of operation, Amundi-Akba has overcome many challenges to promote the transparency and development of the asset management sector in Armenia. Amundi-Akba has also carried out significant work in the direction of implementing such instruments that contribute to the management of foreign exchange risks.
“In 2024 In August we bought green bonds. HRE issued green bonds, and we also invested in them,” said Hrayr Aslanyan, reminding that in previous years they also acquired Team and EBRD bonds. The activity that we see among potential issuers inspires hope that in a short time we will have even more diversified funds in Armenia,” said Aslanyan.
Company representatives assure that in the next decade, Amundi-Akba will continue to contribute to the development of the capital market, promoting the introduction of new investment opportunities and financial instruments for the benefit of the pension funds and beneficiaries under its management. All this will naturally contribute to the growth of economic activity.
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How are environmental, social, and governance (ESG) principles integrated into the investment strategies of Amundi-Akba Asset Management?
Interview: Celebrating a Decade of Financial Growth with Amundi-Akba Asset Management
Time.news Editor (TNE): Welcome, Jean Mazejian and Hrayr Aslanyan from Amundi-Akba Asset Management! Congratulations on your 10th anniversary in Armenia! To start, could you share a bit about the journey of Amundi-Akba over the past decade?
Jean Mazejian (JM): Thank you! It has indeed been an incredible journey. From the beginning, we aimed to develop the financial market in Armenia by introducing new products and solutions that were previously unavailable. Over these ten years, we have managed to grow our assets to around 517 billion AMD, with 66% invested within Armenia. Our goal has always been to contribute to a stable financial future for Armenian citizens.
TNE: That’s impressive growth! I’ve read that Amundi-Akba is focusing on social responsibility with your new initiative, the Amundi-Akba Academy. Can you explain the motivation behind this project?
Hrayr Aslanyan (HA): Certainly! The Amundi-Akba Academy was established to support Armenian students and promote financial literacy. We’ve based this initiative on the best practices from the French Amundi Academy and several European countries. Our mission is to provide students with valuable knowledge and skills for professional improvement, especially in fields related to finance and investment.
TNE: You mentioned offering free access to courses in collaboration with universities. What types of courses will be included, and why is ESG a key focus?
JM: We will offer four main courses: fundamental, expert, financial (based on CFA materials), and ESG. The ESG focus is crucial because we believe that Environmental, Social, and Governance principles are becoming increasingly important in the investment community. By educating students on these principles, we hope to cultivate informed investors who can help create a more sustainable financial market.
TNE: That sounds like a transformative initiative for students. How do you think this academic foundation will impact the Armenian financial ecosystem?
HA: Our belief is that with greater financial literacy, individuals will make informed investment decisions, ultimately leading to a better financial market. If citizens have confidence in the pension system and the overall financial landscape, they will be more engaged and proactive about their financial futures. It’s about fostering a transparent and effective financial ecosystem.
TNE: Speaking of confidence, can you elaborate on the viability of the pension system in Armenia, especially in light of recent economic challenges?
JM: Absolutely. We’ve seen that the pension funds have proven to be resilient, even through various shocks. As of August this year, the assets managed by us totaled 517 billion drams, showing that we’ve generated significant income. The success of this fund provides reassurance to Armenian citizens about their future pensions, which is essential for creating a sense of security.
TNE: That’s encouraging news. You’ve also mentioned investing in green bonds recently. How does this fit into your broader strategy?
HA: The purchase of green bonds is part of our commitment to responsible investing. By investing in instruments that promote sustainability, we align our financial strategies with our social responsibility goals. This not only helps manage foreign exchange risks but also supports initiatives that have a positive environmental impact.
TNE: It seems like Amundi-Akba is committed to not only financial growth but also social responsibility and sustainability. What can we expect from you in the coming years?
JM: We plan to continue developing our product offerings and expanding our educational initiatives through the Amundi-Akba Academy. Our commitment to transparency and the advancement of Armenia’s asset management sector remains strong. We’re excited to play a role in shaping a brighter avenir for the next decade.
TNE: Thank you, Jean and Hrayr, for sharing your insights and vision with us today. Here’s to another successful decade ahead for Amundi-Akba Asset Management in Armenia!
JM & HA: Thank you! It’s been a pleasure.