The Amundi-ACBA pension funds have recovered in Q2 2026 from the minimum levels recorded due to the conflict in the Middle East and have registered positive returns:
- Balanced (AMBAL) fund - 5.2%,
- Conservative (AMCON) fund - 4.3%,
- Stable Income (AMFIX) fund - 1.5%:
The assets of the three funds as of the end of June 2026 amounted to over 842.4 billion drams, of which about 228 billion drams, or 27% of the assets, were formed as a result of management.
In the second quarter, geopolitical tensions in the Middle East periodically increased market instability. However, statements regarding the framework agreement for a ceasefire between the US and Iran and the memorandum of understanding (MoU) somewhat eased concerns about regional escalation.
As a result, energy prices decreased, and investor sentiment improved as fears of prolonged disruptions in global energy supply weakened.
Amid news of the ceasefire and the restoration of optimism around capital expenditures in artificial intelligence (AI), global stock markets rose, which in turn significantly contributed to the positive returns of the Balanced and Conservative pension funds.
At the same time, the movement of bond yields closely followed developments in the energy markets.
Local investments, including Armenian government and corporate bonds, as well as deposits, positively influenced the returns of all funds.
For more detailed information on the quarterly returns and investments of the Amundi-ACBA pension funds, see here.
*The fund's performance figures include fees and expenses related to the fund's assets:
