We hosted around 400 participants from various fields at the forum and more than 500 online followers joined the discussions of the most relevant topics of the time. One of the key topics was "Amundi's investment views for 2024. from macroeconomics to markets", which was presented by Frederic Pascal, Co-Head of the OCIO Solutions Division, Multi-Asset Solutions at Amundi, and Hrayr Aslanyan, Deputy CEO and fund manager of Amundi-Acba.

Summarizing the results of the previous year, the speakers reflected on the economic environment of both developed and developing countries.

And thus, in 2023 the macroeconomic indicators in developing countries show that the remission of monetary terms by the Central Banks contributed to the recovery of financial markets and performance stability.

In developing countries, share prices increased by 10 percent, the bonds had a 10-13 percent increase, expressed both in national and in foreign currency. Armenia also marked progress in this regard. Due to the decrease in inflation and the reduction of the refinancing rate by the Central Bank of Armenia, cash funds and long-term bonds had positive results in 2023 with performance of 12% and 18%. According to macroeconomic trends and financial market forecasts, inflation in developed markets will slow down in the next 2 years. Central Banks play a very important role here.

Speaking about the management of cumulative pension funds, Hrayr Aslanyan mentioned that in 2023 the funds had double-digit growth – 12-15 percent. As for tactical investment policy in the first semester of 2024 Amundi-Acba will show a cautious approach to equity in developed countries, however, it will somewhat increase the risk in the second semester. Hrayr Aslanyan highlighted the importance of investing in both equity and bonds in developing countries, maintaining a selective approach. Referring to the investments in Armenia, he mentioned that preference will be given to both bonds and equity of the non-financial sector.