AC 7
Euro Obligations
A USD and AMD-denominated fixed income strategy with institutional discipline, focused on sovereign and corporate eurobonds
Income Focus
Investing in USD аnd AMD-denominated eurobonds and bonds of governments, central banks and corporations, managed with professional risk control. No level of return is guaranteed
Global Market Reach
Built around instruments traded on regulated markets of developed and emerging economies
Institutional Discipline
A multi-strategy approach with rigorous position sizing, diversification and risk management
Investment Strategy SUB-FUND 1
The Sub-fund pursues a capital growth strategy by investing primarily in USD-denominated eurobonds and bonds issued by the Republic of Armenia and foreign governments, central banks and corporations, as well as in bond funds traded on regulated markets.
The objective of the strategy is to achieve efficient risk-adjusted returns through the application of a multi-strategy approach to fixed income management across developed and emerging markets, while accepting market, credit, currency, leverage and liquidity risks. No level of return is guaranteed.
Asset Allocation (indicative ranges)
Eurobonds & bonds
50–60%
Bond funds
40-50%
OTC Eurobonds & bonds
up to 10%
Cash for current expenses
up to 5%
Cash in stressful market conditions
up to 100%
Allocation ranges may vary depending on market conditions and risk management decisions
Risk indicators
Volatility
Return
Liquidity
Core instruments
Eurobonds & Bonds (USD)
Bond Funds
Cash and cash equivalents
Investment Strategy SUB-FUND 2
The Sub-fund pursues a conservative income strategy by investing in AMD-denominated bonds of the Republic of Armenia government, the Central Bank and corporate issuers, traded on regulated markets, as well as in AMD bond funds.
The objective of the strategy is to generate stable long-term returns in Armenian drams while supporting prudent liquidity management, accepting interest rate, credit and liquidity risks inherent to the local fixed income market. No level of return is guaranteed.
Asset Allocation (indicative ranges)
RA government, CB & corporate bonds
85–90%
Bond funds
5-15%
Cash for current expenses
up to 5%
Cash in stressful market conditions
up to 100%
Allocation ranges may vary depending on market conditions and risk management decisions
Risk indicators
Volatility
Return
Liquidity
Core instruments
RA Government & Corporate Bonds (AMD)
Bond Funds
Cash and cash equivalents
More strategies
Each fund operates under a clearly defined mandate and a documented investment process
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