CAMavor 1 pension fund was registered in CBA on 30.04.2013.
Fund Objective
The main objective of the Fund is to provide Participants with a funded pension by securing the long-term asset growth of the fund.
The Custodian and Participants' Registrar of the Fund
The Custodian of the Fund is “VTB-Armenia Bank” CJSC (46 Nalbandyan st., Yerevan, RA, www.vtb.am).
The Registrar of the Fund is the Manager Company “Capital Asset Management” CJSC.
Fund Type
The fund is an open-ended, contractual, standard fund.
Strategy
Fund assets may be invested in fixed-income securities including bonds issued by governments, corporations and municipalities as well as in equity securities up to 25% of fund assets. Fund investments may also include bank deposits up to 20% of fund assets, investment fund units up to 25% of fund assets, derivative instruments only for hedging purposes. Fund investments may also include foreign securities up to 50% of fund assets and foreign currency-denominated securities up to 50% of fund assets.
Risk
Fixed income securities contain interest rate risk (as interest rates rise bond prices usually fall) as well as issuer default risk and inflation risk. Though equity markets have historically provided higher returns, they are more volatile which create additional market risk. In addition to market risk, investments in securities are subject to operational, legal, political and liquidity risk. Investments in foreign currency-denominated securities are subject to foreign currency risk. To minimize the exposure to these risks, the fund employs a proactive risk management system. Moreover, the fund is subject to investment concentration limitations according to which the fund may not invest large portions (as defined by law and fund rules) of fund assets in securities of a single government or company, deposits of a single bank.:
Participation of the Manager in the Fund
10.441 % (as of 29.11.2024)
Structue of CAMavor 1 pension fund portfolio
| Structure of portfolio by geographic and sector allocation* |
|
|
|
|
|
RA |
EU |
RF |
Total |
| Governmental Sector |
45.844 % |
0 % |
0 % |
45.844 % |
| Non Governmental Sector |
41.868 % |
0 % |
0 % |
41.868 % |
| Financial Sector |
12.288 % |
0 % |
0 % |
12.288 % |
| Total |
100 % |
0 % |
0 % |
100 % |
| * as of 29.11.2024 |
CAMavor 1 pension fund's fees
| CAMavor 1 |
|
| Management Fee |
1.8% |
| Issue Fee |
0 % |
| Redemption Fee |
0 %* |
| Custodian Fee |
0.15 % |
| Expenses related to Commission and Fees |
Based on size and type of transaction |
| *As in cases set forth by Law, when redeeming fund units before retirement age, a redemption fee of 1% will be charged from units owned by the participant. |
Financial Statements
