INVL Asset Management, one of Lithuania’s leading asset management companies, during 2017 earned EUR 27.1 million for the residents of the country who chose its pension funds and its mutual funds for retail investors. The assets of the pension funds managed by INVL Asset Management increased 30.7 per cent during 2017 to EUR 341.9 million and those of its mutual funds increased 22.2 per cent to EUR 87.4 million.
The number of people accumulating a pension in the company’s 2nd pillar pension funds grew 10 per cent last year to 125 000. Those accumulating a pension in its 3rd pillar funds grew 35 per cent to 8 000 at year-end. In total, the company’s pension funds had 133 000 participants at the end of 2017, which is 11.2 per cent more than at the end of 2016.
Rapid growth in the number of pension fund participants was also due to the performance achieved – according to the information of Bank of Lithuania, those run by INVL Asset Management were the leaders in all categories in terms of return for 2017 and for the average annual return during last 5 years. The returns earned by the pension funds managed by the company in 2017 ranged from 2.5 per cent for the INVL Stabilo II 58+ fund to 10.2 per cent for the INVL III Equity pension fund. (Over the last 5 years, these funds had returns of 13.8 per cent and 46.6 per cent, respectively.)
“Last year we continued working to create value for the people in the country who’ve chosen our accumulation and investment products – at year-end all of the pension funds we manage were counting gains, as too were the majority of our mutual funds intended for retail investors,” said Vaidotas Rūkas, the Chief Investment Officer at INVL Asset Management. He attributed the results the funds achieved to the positive situation in the capital markets and suitable implementation of each product’s strategy.
For the five mutual funds that the company manages in Lithuania, returns in 2017 ranged from -2.3 per cent for the INVL Russia ex-government Equity Subfund to 18.9 per cent for the INVL Baltic Fund (over the past 5 years these funds had gains of 20.4 per cent and 66.8 per cent, respectively). Most of the company’s mutual funds are distributed in Latvia, Germany, Sweden, Finland, Norway and Denmark.
INVL Asset Management is part of the Invalda INVL group, whose companies manage pension and mutual funds, alternative investments, private equity assets, individual portfolios and other financial instruments. More than 185 000 clients in Lithuania and Latvia as well as international investors have entrusted them with managing over EUR 575 million of assets.
Details of fund performance in 2017 and over the past 5 years
| Fund name | Fund return during 2017, % | Fund return over the past 5 years, % | Return on the fund’s benchmark index during 2017, % | Return on the fund’s benchmark index over the past 5 years, % |
|---|---|---|---|---|
| INVL Asset Management pension funds | ||||
| 2nd pillar | ||||
| INVL EXTREMO II 16+ | 9.5 | 64.8 | 9.4 | 68.5 |
| INVL MEDIO II 47+ | 7.3 | 43.8 | 6.9 | 51.8 |
| INVL MEZZO II 53+ | 5.8 | 28.7 | 5.9 | 30.0 |
| INVL STABILO II 58+ | 2.5 | 13.8 | 0.1 | 8.3 |
| 3rd pillar | ||||
| INVL III Equity | 10.2 | 46.6 | 6.2 | 37.4 |
| INVL EXTREMO III 16+ | 9.4 | 62.4 | 9.4 | Applicable from 01.01.2013 |
| INVL MEDIO III 47+ | 7.3 | 42.3 | 6.9 | Applicable from 01.01.2013 |
| INVL STABILO III 58+ | 5.2 | 19.0 | 3.1 | 19.4 |
| Swedbank Supplementary Pension Fund | 5.2 | Inception date 13.05.2013 | 7.8 | Inception date 13.05.2013 |
| INVL Asset Management mutual funds | ||||
| INVL Baltic Fund | 18.9 | 66.8 | 20.0 | 77.3 |
| INVL Emerging Europe ex Russia TOP20 Subfund | 17.0 | 33.6 | 24.7 | 3.2 |
| INVL Emerging Europe Bond Subfund | 4.9 | 22.7 | 5.3 | 24.6 |
| INVL Russia ex-government Equity Subfund | -2.3 | 20.4 | -12.1 | -17.2 |
| INVL Global Emerging Markets Bond Subfund | 8.9 | Inception date 01.07.2016 | 7.3 | Inception date 01.07.2016 |
Note: Past results for pension and mutual funds are no guarantee of future performance. Investing in funds entails assuming investment risk. The value of investments can both rise and fall. You may recover less than you invested. Fund return indicates the change in value of a unit of the fund. It takes into account deductions from assets, but not deductions from contributions, hence the net return is smaller. More information about the pension and mutual funds managed by INVL Asset Management UAB, their benchmark indexes, fund rules, prospectuses, key investor information documents, annual reports, risks associated with investing in the funds, and applicable fees are available on the website www.invl.com.
INVL and Šiaulių bankas merged their retail services as of 1 December 2023.
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INVL and Šiaulių bankas merged their retail services as of 1 December 2023.