YEREVAN, May 24. /ARKA/. Amundi-ACBA Asset Management marked the fifth anniversary of its activities, the press service of ACBA-CREDIT AGRICOLE BANK reported on May 23.

Amundi-ACBA Asset Management is one of the two private pension fund management companies in Armenia. It was founded by the French AMUNDI ASSET MANAGEMENT together with ACBA-CREDIT AGRICOLE BANK. Amundi controls 51 percent of the company's stake; the rest is controlled by ACBA-CREDIT AGRICOLE BANK. Amundi-ACBA Asset Management manages 95 billion drams worth assets, including 15 billion drams, generated from professional management.

Amundi Deputy Chief Executive Officer Bernard de Wit said Armenia is the first country in the region to have adapted the funded pension system having undertaken a similar approach to pension reform.
"It was quite attractive; so we wanted to join Armenia in this matter and make it an example. The funded pension system has become attractive also to other countries of the region. In this sense Armenia is becoming an example. Other countries are showing interest in the system that means we're on the right track," he said.

According to Jean Mazedjian, Executive Director of Amundi-ACBA Asset Management, this reform is important in terms of ensuring a decent life for pensioners. "This is also more an economic event, since Armenia can get a steady pension system," he added.

Head of Amundi-ACBA Asset Management Board and CEO of ACBA-CREDIT AGRICOLE BANK Hakob Andreasyan noted that the changes implemented in the funded pension system are not only of social but also economic nature.

"It is important that in the long term, funds accumulate in Armenia, which may be used to implement investment programs in various segments of the economy," he explained.

The event was attended by the Deputy Chairman of the Central Bank of Armenia Nerses Yeritsyan and the Extraordinary and Plenipotentiary Ambassador of France to Armenia Jonathan Lacotte.
In connection with its fifth anniversary, Amundi-ACBA Asset Management will be donating over the next three years 40,000 euros from its profit to the French University of Armenia and the Tumo Center for Creative Technologies for educational and cultural projects.

The main shareholder of AMUNDI ASSET MANAGEMENT is Credit Agricole Group (69.9%). AMUNDI is the largest asset management company in Europe in terms of the size of assets and its share in the world. It is among the top ten asset management companies in the world http://about.amundi.com/.

AMUNDI ASSET MANAGEMENT manages 1.476 trillion euros of assets across six investment hubs.
The company is represented in 37 countries and employs more than 4,500 people and has a global client base of over 100 million retail, institutional and corporate clients.

AMUNDI ASSET MANAGEMENT manages 1.476 trillion euros of assets across six investment hubs.
The company is represented in 37 countries and employs more than 4,500 people and has a global client base of over 100 million retail, institutional and corporate clients.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole, the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0-