YEREVAN, December 6. / ARKA /. Konrad Karner, a board member of a pension fund managing company C-QUADRAT AMPEGA ASSET MANAGEMENT Armenia that was granted by Armenian Central Bank a permission to run an Armenian investment fund, said to a news conference today that pension savings of future Armenian pensioners will not be invested in Russia’s capital market.
As reported earlier, C-QUADRAT AMPEGA ASSET MANAGEMENT will set up in Armenia three pension funds with stable, conservative and balanced profitability rates as part of mandatory pension savings fund reform coming into force from January, 2014.
Under the ‘stable’ fund all pension savings of a future pensioner will be invested in debt instruments, such as bank deposits and government bonds. Under the “conservative" retirement plan 75 % of the savings will be invested in debt instruments, while 25% in equity securities. Under the “balanced” plan the ratio will be fifty-fifty.
He said C-QUADRAT AMPEGA plans to invest the assets in the capital markets of member countries of the Organization for Economic Cooperation and Development (OECD), which do not include Russia .
OECD includes now Australia, Austria, Belgium, Great Britain, Hungary , Germany , Denmark, Greece, Ireland, Israel, Iceland, Ireland, Italy, Luxembourg, Mexico, Netherlands, New Zealand , Norway, Poland , Portugal, Slovakia, Slovenia , the USA, Turkey, Finland, France, Czech Republic , Chile , Switzerland , Sweden , Estonia , South Korea and Japan.
On December 2 the Central Bank of Armenia awarded licenses to C-QUADRAT Ampega Asset Management Armenia to manage investment funds in Armenia. The company is a joint venture of C -QUADRAT Investment AG (Austria) and Talanx Asset Management GmbH (Germany).
C-QUADRAT is an asset management company, founded in 1991 in Vienna. At present it has offices in 13 countries in Europe overseeing assets worth approximately EUR 5 billion.
In 2012, C-QUADRAT was recognized as the best investment company in Germany by "Börse Online" magazine. It was assigned AA rating by Standard & Poor's rating agency.
Talanx Asset Management GmbH is a member of group of companies Talanx - the third largest insurance corporation in Germany with 27 billion euro revenues earned in 2012. Talanx has been on the market for over a hundred years working in 150 countries and managing assets worth 100 billion euros. -0