Kristine Aghalaryan

ACBA Credit Agricole Bank Has a Stake in Pension Fund Management Company

In an attempt to sell the idea of the mandatory pension fund, scheduled to start as of January 1, to the Armenian public, the Central Bank has bandied about the names of prominent international companies as managers.

Two such companies are Amundi Asset Management, based in France, and the Austrian-German C-QUADRAT.

In turns out that these two companies will not only manage, but will have a stake in the managing company of the fund.

According to the November 19, 2013 decision of the Armenian Central Bank’s Board, a new limited liability company called Amundi-Acba Asset Management has already been registered and granted a license to manage the investment fund.

We wrote the Central Bank, requesting information as to the founders and shareholders in the two companies that will be managing the pension investment fund in Armenia – Amundi-Acba Asset Management and C-QUADRAT.

According to the information provided by the Central Bank, Amundi-Acba Asset Management is owned by Amundi Asset Management (51%) and Acba-Credit Agricole Bank (49%).

It appears that C-Quadrat will also be a player via a subsidiary company called C-Quadrat Ampega Management, now in the process of getting registered and receiving a license.

This company is founded by C-QUADRAT INVESTMENT AG  and Talanx Asset Management GmbH: