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Balchug Capital Opens New Office In Yerevan

Event-driven and value investment manager Balchug Capital has opened a new office in Yerevan, the capital city of Armenia.

Balchug founder and CEO David Amaryan commented, "I am of Armenian heritage and take a strong interest in the economic and capital markets development of my home country. With the new government in place, we think there are strong investment opportunities there that those not familiar with the region might miss, and we also wish to support the development of the investment management industry in the country."

The new office has three members of staff, in addition to the nine staff members in Moscow. Vachik Gevorgyan is head of the Yerevan office, and has extensive investment banking and capital markets experience, having previously worked with the Central Bank of Armenia, Araratbank and Nasdaq OMX Armenia, among others. Lilit Hakobyan is an analyst and has over 15 years of fixed income and FX experience. Balchug has also hired Hasmik Salnazaryan in their Yerevan office. Hasmik is a professional with 5 years of experience in capital markets. She joined Balchug Capital from Nasdaq OMX Armenia.

Balchug's Armenia office will act primarily as a research unit for the firm's investments in emerging markets. Balchug is also advising various government agencies in Armenia.

Balchug’s investment thesis centers around identifying fundamental value in mis-priced securities that may get re-rated by the market as a result of certain events and relies heavily on research and experience in individual markets.


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