Pension fund assets in Armenia reach 1 trillion drams - Deputy Chairman of Central Bank

YEREVAN, November 27. /ARKA/. The assets in Armenia's pension funds have already reached 1 trillion drams, according to Armen Nurbekyan, Deputy Chairman of the Armenian Central Bank.

"This is a very significant figure, and it continues to grow at a very rapid pace," he said the day before at a meeting of the parliamentary commission on financial, credit, and budgetary affairs.

According to Nurbekyan, pension funds play a crucial role in investing in both government bonds and corporate securities.

He noted that approximately 460,000 people make contributions to pension funds.

"We think that the accumulation funds already have such significant influence that we must provide them with more opportunities to invest in Armenia's economy," said the Deputy Chairman of the Central Bank.

In Armenia, the opening and management of participants' pension accounts, the issuance and redemption of units, as well as other registration operations, are centralized and carried out by the Central Depository (CDA), ensuring efficiency and cost savings. The CDA also holds the fund's assets. Decentralized asset management is handled by two international funds: ‘’Amundi-Acba asset management’’ and ‘’C-quadrat ampega asset management,’’ which are licensed and regulated by the Central Bank.