CODE
050.0301 N. 24.12.13
December 24, 2013, No. 301-N
Approval of Regulation 10/03 “Reports on Own Funds and Funds Managed by Investment
Fund Manager Filed to the Central Bank of Armenia by Investment Fund Manager;
Procedure, Terms and Conditions of Reporting; Providing the Central Bank of Armenia
with Additional Information on Making Individual Decisions by Investment Fund
Manager”
In pursuance of regulating the reports on own funds and funds managed by investment fund
managers as well as the procedure, terms and conditions of reporting to the Central Bank of
Armenia by investment fund managers,
Basing upon Article 92 (1) and (3) and Article 104 (2) of the Republic of Armenia Law on
“Investment Funds”, and
By virtue of Article 20 "e" of the Republic of Armenia Law on “Central Bank of Armenia” and
Article 16 of the Republic of Armenia Law on “Legal Acts and Regulations”, the Board of the
Central Bank of Armenia
Enacts:
1.
Approve the Central Bank Regulation 10/03 “Reports on Own Funds and Funds Managed
by Investment Fund Manager Filed to the Central Bank of Armenia by Investment Fund Manager;
Procedure, Terms and Conditions of Reporting; Providing the Central Bank of Armenia with
Additional Information on Making Individual Decisions by Investment Fund Manager”, pursuant to
Appendix attached hereto.
2.
This decision takes effect on the tenth day following its official publication.
Arthur Javadyan,
Chairman of the Central Bank of Armenia
December 27, 2013
c. Yerevan
APPENDIX
Approved: under the Central Bank Board Resolution No. 301-N,
Dated: December 24, 2013
Regulation 10/03
“Reports on Own Funds and Funds Managed by Investment Fund Manager Filed to the
Central Bank of Armenia by Investment Fund Manager; Procedure, Terms and Conditions
of Reporting; Providing the Central Bank of Armenia with Additional Information on
Making Individual Decisions by Investment Fund Manager”
Chapter 1: General provisions
1.
This regulation establishes: a) the format and content of the reports on own funds and funds
for public investment (hereinafter “the Fund/s”), managed by an investment fund manager
(hereinafter “the Manager/s”), which are filed to the Central Bank of Armenia (hereinafter “the
Central Bank”); b) the procedure, terms and conditions of reporting; and c) providing additional
information on certain decisions of the Manager about which the Manager is required to
communicate to the Central Bank.
2.
The sums in the reports as established under this regulation shall be expressed in Armenian
Dram, in the thousand dram’s precision.
3.
Foreign currency items in the tables shall be presented in monetary terms, using average
market exchange rate set by the Central Bank for the relevant foreign currency as of the closing day
of the reporting period. The reports filed to the Central Bank by the Managers and the Funds shall
be prepared in accordance with the Central Bank’s guidelines on basic principles of accounting of
assets and liabilities of investment fund managers.
4.
For records of purchase and sale of financial assets and liabilities, the Managers shall be
required to use the method of final settlement date.
Chapter 2: Basic definitions
5.
The definitions used in this regulation have the following meanings:
1)
Date: the date is indicated in the following format – day/month/year, (for example,
01/01/2012).
Reporting year: a period spanning from 1st of January up to 31st of December inclusive.
To the Manager, the first reporting year will include the period spanning from the day on
which an activity license has been granted for fund management up to 31st of
December (inclusive) of that year.
Reporting quarter: each of four time intervals consisting of three months, beginning the
calendar year. To the Manager, the first reporting quarter will include the period spanning
2)
3)
from the day on which an activity license has been granted for fund management up to the
closing of that quarter.
Reporting month: each of twelve time intervals of the year, beginning the calendar year. To
the Manager, the first reporting month will include the period spanning from the day on
which an activity license has been granted for fund management up to the closing of that
month.
Reporting day: each working day.
Reporting period: a reporting month, reporting quarter or reporting year.
Net assets value: the value calculated pursuant to the Central Bank Regulation 10/04
“Calculation of Net Assets Value of Investment Funds” as established by the Republic of
Armenia Law on “Funded Pension Contributions” and approved under the Central Bank
Board Decision No. 335-N, dated December 12, 2011.
Effective management premium: part of premium which depends on the profitability of
the Fund.
4)
5)
6)
7)
8)
6.
The other definitions used in this regulation have the same meaning as in the Republic of
Armenia Law on “Funded Pension Contributions” and the Republic of Armenia Law on
“Investment Funds”.
Chapter 3: Reports on Own Funds and Funds Managed by Investment Fund Manager
Filed to the Central Bank
7.
The Manager shall file the following reports at the following time interval to the
Central Bank:
Repor
t No.
Report name
Time interval
On the Manager activity
Balance Sheet
monthly, annually
Income and Expense Account
monthly, annually
Total Capital, its Minimum Size and the Participation in monthly
the Funds
4.
Generation of or Change in the Statutory Capital
upon generation or change
in the statutory capital
5.
Activity of the Manager
annually
On the Managed Funds
6.
The Fund and the Fund’s Net Assets
daily
7.
The Structure of Fund Investment
daily
8.
The Fund’s Incomes and Expenses (change in net assets monthly
value)
9.
The Employer Schemes
monthly
On Maintaining the Registry of Voluntary Funded Pension Scheme Participants
10. Participation in Voluntary Pension Funds and the Units monthly
(Shares) Purchased in There
11. Distribution of Aggregate Value of the Units (Shares) of annually
Voluntary Pension Fund Participants
1.
2.
3.
12.
Disbursements from Voluntary Pension Funds
annually
8.
Where the Manager also provides the service as specified in Article 52 (4) of the Republic of
Armenia Law on “Investment Funds”, reporting forms No. 7 and No. 8 as provided for in the
Central Bank Regulation 4/03 “Statements of Investor Service Providers Filed to the Central Bank;
Procedure, Terms and Conditions of Reporting” (approved under the Central Bank Board
Resolution No. 140-N, dated April 22, 2008) will be submitted, as well.
9.
Where the Manager also provides the service as specified in Article 52 (5) ‘2’ of the Republic
of Armenia Law on “Investment Funds”, reporting form No. 18 as provided for in the Central Bank
Regulation 4/03 “Statements of Investor Service Providers Filed to the Central Bank; Procedure,
Terms and Conditions of Reporting” (approved under the Central Bank Board Resolution No. 140N, dated April 22, 2008) will be submitted, as well.
Chapter 4: Filing of Reports
10.
The reports as referred to in paragraph 7 of this regulation shall be filed to the Central Bank
through the CBANet system. The reports will be filed using a protected template to the files which
are provided by the Central Bank. The sample forms of these files are set out in Appendix 1-12
attached hereto.
11.
In case of the CBANet system failure, the reports shall be submitted on magnetic or other
electronic storage devices, while providing a notice of the failure.
12.
The names of the reports shall be coded as follows:
Manager code
Dash
Report number
Dot
Abbreviation
XXXXX
_
XX XX
.
Xls
13.
In the report name, the first two characters of the report number shall be used to denote the
activity of the Manager.
14.
In monthly, quarterly and annual reports, the section “Date from…../to…..” shall be used
to indicate the first and last days of the reporting period. In the context of preparation of reports,
whether calendar days are numbered 365 or 366, these will constitute one year.
15.
The reports which the Manager submits to the Central Bank shall contain digital certificates,
if they are not filed through the CBANet system.
16.
The monthly and quarterly reports shall be filed by the 7th working day (inclusive) of the
month following the reporting period.
17.
The timing for filing annual reports is defined by January 30th (inclusive) of the year
following the reporting period.
18.
Report No. 4 shall be filed on the 10th day (inclusive) following the making of the respective
change.
19.
Where paragraph 7 of this regulation requires that any particular report be filed on both
monthly and annual bases, the December’s monthly report shall be skipped.
20.
Where the last day for filing the report falls on a non-working day, the report will be filed on
the next working day.
21.
The reports which are filed after the timeframe specified by this regulation and which have
been duly corrected as required by this regulation shall be filed electronically in accordance with
paragraph 10 of this regulation. Where several corrected reports have been filed for the same
reporting period, the reliable report will be the last filed corrected report.
22.
The electronic version of the report must make it possible for reading in electronic format,
must be completed using an Arial Armenian font, with no blank rows left between the two
completed ones. The electronic version of the report must be free of software or other technical
defect. This requirement does not apply to the Manager, if such software or other technical defects
of the electronic version of the report come from the files provided by the Central Bank.
23.
In completing the reports, the SWIFT codes, Telex numbers, securities identification codes,
currency ISO and other codes shall be presented in English.
24.
Those items in the reports, which are not used for denoting investment activities of the
Manager, shall not be completed. In cases where it is impossible to determine the residency of the
item, the data will be completed in the sections provided for residents.
25.
The information contained in the reports which the Manager files to the Central Bank must
be accurate and complete.
Chapter 5: Seeking Reference, Explanation and Other Deliverables from the
Manager by the Central Bank
26.
The Central Bank is authorized to demand, through a notice, additional reports/statements,
reference information, explanation and other such deliverables from the Manager, its directors and
agents acting in the structure or on behalf of the Manager about the activities related to fund
management.
27.
The notice as referred to in paragraph 26 of this regulation shall be delivered in the paper
form by mail or in person, or via telegram, official e-mail of the Central Bank, the CBANet system
or other reserve means of communication; the paper notice shall be signed by the head or deputy
head of the department which is in charge of the Manager and Fund oversight.
28.
The Manager or its officer shall be required to deliver the required reference information,
explanation and (or) other such deliverables to the Central Bank within 3 working days after
receiving the notice as referred to in paragraph 27 of this regulation, unless such notice specifies a
longer period for presentation.
29.
The Manager shall deliver the required reference information, explanation and (or) other
such deliverables in the paper form by mail or in person, or via the CBANet system. In cases when
the CBANet system is not available, these deliverables can be submitted via the Internet, using a
platform designed for acceptance of reports. Where these deliverables are not possible to submit due
to the system failure, magnetic or electronic storage devices will be used, while a notice of the failure
should be provided therewith. The deliverables as referred to hereunder must contain digital
certificates, if they are not sent through the CBANet system.
Chapter 6: How to Complete the Reports Filed to the Central Bank
30.
Report No. 1 about the financial position shall be completed as of the last day of the
reporting period, presenting the Fund Manager’s assets, liabilities, equity, and off-balance sheet items
in accordance with Appendix 1.
31.
In the columns “Group 1 Foreign Currency” and “Group 2 Foreign Currency”, the foreign
currency shall be grouped pursuant to the Central Bank Regulation 2 “Regulation of Banking; Main
Prudential Standards for Banking” (approved under the Central Bank Board Resolution No. 39-N,
dated February 9, 2007). The figures represented in each column shall be classified by residency. The
off-balance sheet items shall be completed in thousand Armenian drams. The report shall indicate
the data of the last working day of the reporting period (if the last day was a non-working day
but the Manager operated however, the data of that day will also be indicated).
32.
The accounts opened by the Manager independently for accounting treatment shall not be
reflected as a separate account in the reports filed to the Central Bank.
33.
The line with an abbreviation «NV» which is attached to the items of the report shall be used
to indicate the principal amount of the asset or liability of the main item, whereas the line with an
abbreviation «NI» shall be used to indicate the interest fee accrued in nominal interest which is still
outstanding, as well as the fines and penalties accrued on that item. For example, the line «10420
NV» shall be used to indicate the principal amount of the asset included in the grand sum of the line
«10420», while the line «10421 NI» shall be used to indicate the interest fee accrued but still
outstanding, which is included in the grand sum of the line «10421».
34.
The items of Section 85 of the Report can be left uncompleted.
35.
Report No. 2 about the income and expense shall be completed using the data on a
cumulative basis, to the extent of interest income and non-interest income, and interest expense and
non-interest expense, accrued from the beginning of the year, in accordance with Appendix 2.
36.
The lines shall be separated into resident and non-resident categories in order to pint to the
source of income. For example, the income generated from proceeds of sale of securities issued by
the resident to the non-resident shall be shown in sub-item “Non-resident” of the line “Net
proceeds from sale of securities”.
37.
The line “Accrued income from management of funds” shall be used to indicate the size of
management fee (the fixed portion of it) due for the Manager for their management activities in the
period under review.
38.
The line “Accrued income from management of funds when such income derives from
fund’s return” shall be used to indicate that portion of management fee paid to the Manager in the
period under review, which is attributable to the fund’s return having increased as a result of
management.
39.
The line “Income from management of the securities portfolio” shall be used to show the
size of management fee due for the Manager for their management of the securities portfolio in the
period under review, as provided for in Article 52 (4) of the Republic of Armenia Law on
“Investment Funds”.
40.
The line “Income from provision of consultancy on investment in securities” shall be used
to denote the amount of fees of consultancy services provided in the period under review, as
provided for in Article 52 (5) of the Republic of Armenia Law on “Investment Funds”.
41.
The line “Other non-interest income” shall be used to indicate other charges and fees, not
included in sub-clauses 3.1 to 3.15 hereunder, paid to the Manager in the period under review.
42.
The line “Issuance fee” shall be used to indicate the size of fees charged for the issuance of
fund units (other equity securities) managed by the Manager in the period under review.
43.
The line “Redemption fee” shall be used to indicate the amount of fees charged for
redeeming the fund units (other equity securities) managed by the Manager in the period under
review.
44.
The line “Other non-interest expense” shall be used to indicate other expenses, not included
in sub-clauses 4.1 to 4.23 hereunder, paid by the Manager in the period under review.
45.
Report No. 3 on “Total capital, its minimum threshold and participation in funds” has Table
1 which shall be used to denote the size of the Manager’s total capital and book and regulatory
values of total capital components as well as required deductions by all days of the month, as
provided for in the Central Bank Board Resolution No. 119-N, dated May 2, 2011, pursuant to
Appendix 3 attached hereto.
46.
On the days (including non-business days) when the Manager’s balance sheet did not change,
the previous day’s data shall be used.
47.
Report No. 3 “Total capital, its minimum threshold and participation in funds” has Table 2
which shall be used to denote the amount of participation in the fund managed by the Manager. In
the case of managing more than one fund, the data of each fund as of each day shall be indicated
separately, adding lines with an indication of the day.
48.
Report No. 4 “Statutory capital formation or change” shall be filed in the event new
companies form a statutory capital and the statutory capital changes (adding-in, reduction, as well as
other changes to the information previously submitted). The information on each shareholder
(participant) who holds 1 percent and more of shares (stock) shall be indicated in part "A" of the
report. Where the same shareholder (participant) holds both preference and ordinary shares, part
"A" of the report shall allot two lines for that shareholder (participant). The information on the
shareholder (participant) who holds less than 1 percent of shares (stock) shall be indicated by
resident and non-resident segments, in part "B", pursuant to Appendix 4 attached hereto.
49.
Report No. 4 has columns which shall be completed in accordance with the rules provided
below:
1) The column “Registration date for statutory capital formation (change)” shall be used to
indicate the date on which the statutory capital of new companies and the statutory
capital changes (adding-in, reduction) is registered with the Central Bank.
2) The column “Manager’s organizational structure” shall be used to indicate the
organizational structure of the reporting entity, whether it is a joint stock company,
closed joint stock company or limited liability company.
3) The column “First name, middle name, last name of participant’s (shareholder’s)
management (chairman of board (supervisory board) and executive director)” shall be
completed only if the participant (shareholder) is legal entity.
4) The column “Type of ownership” shall be used to denote the word ‘individual’ if the
manager’s participant (shareholder) is natural person. If the manager’s participant
(shareholder) is legal entity, and more than 50 percent of its participation is owned by the
state, the column shall be used to denote the words ‘state’; in other cases, it shall denote
the word ‘non-state’.
5) The column “Type of share” shall be used to denote the word either ‘ordinary’ or
‘preferred’ for joint-stock companies, depending on the type of share.
6) The column “Date of registration of owners (shareholders) of nominal securities in the
registry” shall be used to indicate the date on which the ownership over shares in the
Central Depository has been registered. The column shall be completed for joint-stock
companies only.
7) The column “Residency” shall be used to denote the word either “resident” or “nonresident”, depending on the participant’s status of residency.
8) The column “Size of change in the statutory capital” shall be used to indicate the amount
of change (increase, decrease) in the shareholder’s (participant’s) portion of the statutory
capital, in thousands of Armenian drams. In case of forming of statutory capital of a new
manager, the column shall not be completed.
9) The column “Size of shareholder equity” shall be used to indicate the amount by which
the participant (shareholder) participates in the statutory capital, in thousands of
Armenian drams. Moreover, in case of change in the statutory capital, the amount will
include the changed amount of the participant’s (shareholder’s) equity.
10) The column “Share in the statutory capital (%)” shall be used to indicate the participant’s
(shareholder’s) participation in the statutory capital, by percentage. Moreover, in case of
change in the statutory capital, the amount will include the changed percentage of the
participant’s (shareholder’s) equity.
50.
Report No. 5 “The manager’s activity” shall contain information about other services
provided by the Manager along with fund management activities during the reporting period, and
shall be filed on a quarterly basis, in accordance with Appendix 5.
51.
Boxes of the Report shall be completed in accordance with the rules provided below:
1) The line “Securities portfolio management contracts” has a column “Number” which
shall be used to show the number of securities portfolio management contracts in use,
signed by the Manager, as of the end of reporting period; column “Amount” shall be
used to indicate gross value of assets under management of securities portfolio, as of the
end of reporting period.
2) The line “Management fees” shall be used to indicate gross value of commission fees
received from securities portfolio management (management fees, effective management
premium, etc.), as of the end of the reporting period.
3) The line “Number of consultancy contracts” shall be used to show the number of
contracts in use, signed by the Manager as of the end of the reporting period, whereby
the Manager has committed to providing consultancy services to the client for a definite
or indefinite period of time. This line has column named “Amount” which shall be used
to indicate the estimated value of the contracts for investment consultancy provided
during the reporting period.
4) The line “Fees received from consultancy services” shall be used to indicate the fees
accrued during the reporting period from investment consultancy services provided as of
the end of the reporting period.
5) The line “Fund’s units (shares)” shall be used to denote the number of securities handed
over to safe custody as of the end of the reporting period as well as the estimated value
of such securities as of the end of the reporting period.
6) The line “Fees received from providing safe custody” shall be used to show the
commission fees received during the reporting period as a result of safe custody of
securities of the fund, as of the end of the reporting period.
52.
Report No. 6 “The fund and the fund’s net assets” shall be used to present summary
information about corporate and contractual funds (including pension funds), in accordance with
Appendix 6. Each fund shall be presented in a separate report.
53.
Table 1 of the report shall be used to show the calculation of the value of the fund’s net
assets, according to the CBA Regulation 10/04 “Calculation of the Value of Net Assets of
Investment Funds”, as approved under the Central Bank Board Resolution No. 335-N, dated
December 6, 2011.
54.
Table 2 of the report shall be used to provide summary information about any given fund.
The lines of this table shall be completed in accordance with the rules provided below:
1) The line “Total number of units (shares) placed among the participants” shall be used to
denote the number of units (shares) placed among the participants of the fund during
the reporting period.
2) The line “The fund’s net asset value” shall be used to indicate the value of net assets of
the fund as of the end of the reporting period.
3) The line “The number of issued units (shares) during the reporting period” shall be used
to denote the number of all units (shares) of the fund issued during the reporting period
as well as the price at which these were placed.
4) The line “The number of redeemed units (shares) during the reporting period” shall be
used to denote the number of the units (shares) of the fund redeemed during the
reporting period as well as the price at which these were redeemed.
5) The line “Estimated value of the unit (share)” shall be used to indicate the estimated
value per unit (share) of the fund, as of the last day of the reporting period.
6) The line “Total number of the fund’s participants, including:” shall be used to denote the
total number of participants of the fund as of the last day of the reporting period; the
number of participants shall be grouped into individuals and legal entities, accordingly.
55.
Table 3 of the report shall contain information about the loans taken to the expense of the
fund’s assets. The columns in this table shall be completed in accordance with the rules provided
below:
1) The column “Nominal amount of the loan” shall be used to indicate the residual value of
nominal amount of the loan as of the last day of the reporting period.
2) The column “Present value of the loan” shall be used to indicate the carrying value of
the loan as of the last day of the reporting period.
3) The column “Share in the market value of the fund’s assets (%)” shall be used to
indicate the share of present value of the loan in the market value of the fund’s assets, as
of the last day of the reporting period.
56.
Report No. 7 “The structure of the fund’s investments” shall be used to present summary
information about investment of corporate and contractual funds (including pension funds) by the
Manager, in accordance with Appendix 7.
57.
Each table shall be used to present summary information about investments in, respectively,
shares, bonds and other securities and in real estate, as well as about repurchase agreements signed
on behalf of the Fund and amounts and values of derivative instruments.
58.
For information about the value of securities, columns regarding the aggregate value of
securities will be completed only; the columns of the number and value of securities will not be
completed.
59.
In calculating the share of assets in the Fund, the book value of the assets at the end of the
reporting period will be taken into account.
60.
Report No. 8 “Fund revenues and expenditures (change in net asset value)” shall be used to
present summary information about the revenues and expenditures on corporate and contractual
funds (including pension funds). A timespan from the beginning of the year up to the closing day of
the reporting month shall be considered as the reporting period for this report. Each fund shall be
presented in a separate report.
61.
Table 1 shall be used to denote the change in the Fund’s net asset value during the reporting
period, by item, in accordance with Appendix 8.
62.
Table 1 shall be completed in accordance with the rules provided below:
1) The lines “Interest expense on funds attracted from banks and other financial
institutions” and “Interest expense accrued in respect of other persons” shall be used to
indicate the amount of interest payable on loans, borrowings and such other funds
(including interest payable on repurchase and reverse repurchase transactions) accrued
on and attracted for any particular fund during the reporting period.
2) The line “Expense accrued on fund custodian fees” shall be used to indicate the
amount of custody fees accrued for any particular fund, except mandatory pension
funds, during the reporting period.
3) The line “Expense accrued on fees for maintaining fund registry” shall be used to
indicate the amount of the fees calculated for maintaining the fund registry, except
mandatory pension funds, during the reporting period.
4) The line “Costs directly related to the transactions with the fund assets” shall be used to
indicate the costs which are directly related to the transactions carried out with any
particular fund’s assets accrued for that fund during the reporting period, including the
costs related to judicial, judicial enforcement procedures, if any.
5) The line “External audit costs” shall be used to indicate the amount of remuneration of
the external auditor who conducts the annual external audit of the fund, as well as the
amount of remuneration of the external auditor who conducts the annual external audit
of the fund to the expense of the fund’s resources, as there may be other circumstances
prescribed by the law.
6) The line “Expense accrued on the fund’s tax liabilities” shall be used to indicate the
taxes, fees and other mandatory charges accrued with regard to the fund during the
reporting period.
7) The line “Payments to the guarantee fund for mandatory funded pension component”
shall be used to denote the contributions made to any particular fund on the guarantee
fund for mandatory funded pension component.
63.
Tables 2, 3, 4 and 5 shall be used to show, respectively, gain (loss) from disposal and
revaluation of securities held under corporate and contractual funds as well as from disposal and
revaluation of real estate.
64.
Report No. 9 “Employers’ schemes” shall be used to present summary information about
funded pension plans which the Manager created in the form of schemes offered by the employers,
in accordance with Appendix 9.
65.
The columns in the report shall be completed in accordance with the rules provided below:
1) The column 1 shall be used to denote the names of those voluntary corporate and
contractual pension funds in which units have been acquired through the schemes
offered by the employer.
2) The column “Effective contract period” shall be used to denote the opening and closing
dates of the contracts (if any) signed with the employer.
3) The column “Gross cumulative contributions” shall be used to denote the amount of
cumulative contributions which the employer and its employees have made for
purchasing units during the reporting period on a basis of agreement between the
employer and the Manager.
4) The column “Payments from the fund” shall be used to denote the net amount
(excluding commission fees and taxes) transferred to the respective scheme’s
beneficiaries from the fund during the reporting period.
66.
Report No. 10 “Participation in voluntary pension funds and the units (shares) purchased
therein” shall be used to present information about funded pension contributions made in favor of
the fund participants during the reporting period and about the units (shares) they own, in
accordance with Appendix 10.
67.
The columns “Funds’ codes” of the table shall be used to indicate the appropriate codes
which the Central Bank granted to all voluntary pension funds operating in the territory of the
Republic of Armenia.
68.
The column “Shareholders as of the end of the reporting period, by date of birth and
gender” of the report has the lines 1.1-1.25 which, in turn, consist of sub-columns “number of
persons” and ‘number of units”. These sub-columns shall be used to indicate the number of
persons, by date of birth and gender, (including those who have become shareholders to the effect
of inheritance) and the number of units distributed among them, as of the end of the reporting
period. The line “Total” of this column (“Shareholders as of the end of the reporting period, by date
of birth and gender”) shall be used to indicate the number of all participants, by date of birth and
gender, and the number of their units (shares), as of the end of the reporting period, distributed
according to the funds as shown in the columns.
69.
Report No. 11 “Distributed gross value of units of shareholders of voluntary pension
funds” shall be used to present information about the distributed gross estimated value of units
purchased by shareholders and about the participants who own units from various funds, as of the
end of the reporting period, in accordance with Appendix 11.
70.
The report shall be completed in accordance with the rules provided below:
1) The lines 1.1-1.25 of the column “Estimated value of units” shall be used to show
the estimated value of units purchased by the voluntary pension fund’s shareholders
grouped according to date of birth and gender as indicated in the lines 1.1-1.25 of the
column above, according to estimated values published as of the end of the reporting
period, in thousands of Armenian drams.
2) The column “Number of persons, by gross estimated value of units purchased” has subcolumns 3-12 which, in turn, consist of the lines 1.1-1.25. These lines shall be used to
show the number of the voluntary pension fund’s participants who owned units in gross
estimated value fallen within the values as mentioned in sub-columns of this column
(“Number of persons, by gross estimated value of units purchased”) as of the end of the
reporting period, according to estimated values published as of the end of the reporting
period.
3) The column “Estimated values of units” of the line “Total” shall be used to show
the estimated value of units issued as of the end of the reporting period for the voluntary
pension fund’s shareholders grouped according to date of birth and gender, according to
estimated values published as of the end of the reporting period, in thousands of
Armenian drams. The sub-columns 3-12 of the line “Total” above shall be used to show
the number of the fund’s participants who own, as of the end of the reporting period,
units in gross estimated value fallen within the values as mentioned herewith, according to
estimated values published as of the end of the reporting period.
71.
Report No. 12 “Payments made from voluntary pension funds” shall be used to present
information about payments made from voluntary pension funds during the year prior to the
reporting period, in accordance with Appendix 12.
72.
Table 1 of the report shall be completed in accordance with the rules provided below:
1) The lines 1.1-1.25 of the column “Participants, by date of birth and gender, as of the end
of the reporting period” shall be used to denote the distribution of the fund’s participants
grouped according to date of birth and gender, who received payments from voluntary
pension funds during the reporting period.
2) The lines 1.1-1.25 of the column “Amount” shall be used to indicate the gross value of
payments (taxes included) to the participants grouped according to date of birth and
gender, made from the pension funds during the reporting period, in thousands of
Armenian drams.
3) The lines 1.1-1.25 of the column “Number of persons” shall be used to indicate the total
number of participants grouped according to date of birth and gender, whom payments
from respective pension funds have been made to during the reporting period.
4) Each of the sub-lines ranging 1.1-1.25 within the sub-columns 4-16 of the column “Sums
paid” shall be used to indicate the sums paid to the voluntary pension fund’s participants
during the reporting period.
5) The line “Total” has a column “Amount” which shall be used to indicate the value of
payments to the participants grouped according to date of birth and gender, made from
the pension funds during the reporting period, in thousands of Armenian drams. The
sub-column “number of persons” shall be used to denote the number of participants
grouped according to date of birth and gender, whom payments from respective pension
funds have been made to during the reporting period; the sub-columns 4-16 shall be used
to denote the number of participants grouped according to date of birth and gender,
whom amounts proportional to the size specified in the relevant range have been paid to
during the reporting period.
73.
Table 2 of the report shall be completed in accordance with the rules provided below:
1) The lines 1.1-1.25 of the column “Participants, by date of birth and gender, as of the end
of the reporting period” shall be used to denote the distribution of the fund’s participants
grouped according to date of birth and gender, who received payments from voluntary
pension funds during the reporting period.
2) The column “Annuity” has sub-columns “number of persons” and “amount”. These subcolumns, in turn, consist of the lines ranging 1.1-1.25 which shall be used to denote the
number of those participants grouped according to date of birth and gender, and the
amount of money paid (including taxes, in thousands of Armenian drams), for whom
the Manager has redeemed the units and transferred the funds during the reporting period
to the insurance company selected by the voluntary pension fund’s beneficiaries in
accordance with the Republic of Armenia Law on “Funded Pension Contributions”,
Article 68 (10).
3) The column “Regular contributions” has sub-columns “number of persons” and
“amount”. These sub-columns, in turn, consist of the lines ranging 1.1-1.25 which shall
be used to denote the number of those participants grouped according to date of birth
and gender, and the amount of money paid (including taxes, in thousands of Armenian
drams), for whom the Manager has paid regular contributions during the reporting period
in accordance with the Republic of Armenia Law on “Funded Pension Contributions”,
Article 68 (9) 2.
4) The column “Non-recurrent contributions” has sub-columns “number of persons” and
“amount”. These sub-columns, in turn, consist of the lines ranging 1.1-1.25 which shall
be used to denote the number of those participants grouped according to date of birth
and gender, and the amount of money paid (including taxes, in thousands of Armenian
drams), for whom the Manager has paid non-recurrent contributions during the reporting
period; these non-recurrent contributions shall be distributed in sequence into columns 619, as required under Article 68 (9) 1, Article 65 (8) 1-4, and Article 68 (11) of the
Republic of Armenia Law on “Funded Pension Contributions”.
5) The column “Balance” has a sub-column “number of persons”. The sub-column, in turn,
consists of the lines ranging 1.1-1.25 which shall be used to denote the number of
participants, grouped according to date of birth and gender, who had outstanding units
on the balances of their pension fund accounts as of December 31 of the reporting year.
The lines 1.1-1.25 of sub-column “amount” shall be used to indicate the estimated values
of units (including taxes, in thousands of Armenian drams), calculated as of December 31
of the reporting year, owned by the participants grouped according to date of birth and
gender.
6) The columns 2-19 of the line “Total” shall be used to denote the grand sums of values
shown in the columns 2-19 completed, accordingly, for the participants grouped
according to date of birth and gender, as indicated in the lines ranging 1.1-1.25.