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Performance of INVL 2nd pillar pension funds

INVL pensija 1996-2002

Data for the selected period
From
EUR ()
Till
EUR ()
Change
%
Basic data
Start of operations
2019-01-02
Manager
INVL Asset Management
Newest Data
Date
2021-09-22
Unit value
1,5015 EUR
Net assets
13.918.064,60 EUR
Change in value
1 day
+0,60 %
1 month
+0,28 %
3 months
+2,54 %
1 year
+29,82 %
Fees
Management fee
0,65 %
Partial withdrawal fee
-2,00 %

Investment strategy

INVL Pension 1996-2002 is a target group life-cycle fund for pension accumulation participants who meet the established limits of the year of birth. It invests in equities until the participant reaches the age of 47. 18 years before retirement, the fund starts reducing the proportion of equities and increasing the proportion of bonds. At the age of 64, the target proportion of equities in the fund reaches 10%, but can range from 0 to 20%.

Information about the pension fund

Benchmark

A benchmark describes the fund’s investment strategy and is made up of indices showing individual asset classes. The fund’s compliance with the benchmark is described by a tracking error with a maximum possible value of 5%.

 

The benchmark varies over time, depending on the average age of the participant. The total share of risky asset classes decreases by 5.12%/n each business day (the number of n-business days in the current year). The proportion of risky asset classes (i.e. shares) in the INVL Pension 1996-2002 fund’s benchmark is reduced from the beginning of 2046 to a fixed proportion in 2063. At the same time, the proportion of less risky asset classes (i.e. money market instruments and bonds) is increasing.

 

The risk level of bonds is reduced in 2047 and additionally in early 2053 and early 2059 by choosing shorter-term benchmarks of euro zone governments and investment grade companies.

More detailed information about changes in the benchmark is available in the investment strategy, section “Description of the strategic pension asset allocation”.

More about the benchmark or the component indices read here.

Structure on 2 January 2019:

89.00% MSCI ACWI IMI Net Total Return USD Index (MIMUAWON Index) (converted to EUR)

8.00% MSCI Emerging Markets Net Total Return USD Index (M1EF Index) (converted to EUR)

3.00% EONIA Total Return Index (DBDCONIA Index)

0.00% Bloomberg Barclays Series-E Euro Govt 5-7 Yr Bond Index (BERPG3 Index)

0.00% Bloomberg Barclays EuroAgg Corporate 5-7 Year TR Index Value (LEC5TREU Index)

0.00% J.P. Morgan Euro Emerging Markets Bond Index (EMBI) Global Diversified Europe (JPEFEUR Index)

0.00% J.P. Morgan Corporate Emerging Markets Bond Index (CEMBI) Broad Europe Index (JCBBEURO Index), hedging Bloomberg USDEUR 6 Month Hedging Cost Index (FXHCUE6M Index)

0.00% J.P. Morgan Emerging Markets Bond Index (EMBI) Global Hedged Euro Index (JPEIGHEU Index)

Fund and benchmark values

Depository

Details of the depository protecting the assets of the pension fund:

SEB bankas AB

Gedimino pr. 12, LT-01103, Vilnius

Important to know

For participants of 2nd pillar pension accumulation, the state social insurance old-age pension for the period prior to 31 December 2018 is being gradually reduced as established by law, except for participants of pension accumulation prior to 31 December 2018 who between 1 January 2019 and 30 June 2019 exercised the right to terminate pension accumulation – reduction of the state social insurance old-age pension will not apply to them. The state’s additional contribution does not reduce the size of the old-age pension. A 2nd pillar pension accumulation agreement which is in effect may not be terminated except for a first-time agreement, which the participant has the right to terminate unilaterally within 30 calendar days of making the agreement by notifying the pension accumulation company about that in writing. Persons who became participants before 31 December 2018 had the right from 1 January 2019 to 30 June 2019 to terminate their participation in pension accumulation or suspend the transfer of pension contributions to the pension fund.

Accumulating in pension funds involves assuming investment risk. The pension accumulation company does not guarantee the profitability of pension funds. A pension fund’s unit value can both rise and fall. You may recover less than you invested. Past results of the management of a pension fund’s investments do not guarantee the same type of results and profitability in the future. The results of a past period are not a reliable indicator of future results.

We recommend selecting a pension fund responsibly and carefully, paying attention to the risks and applicable deductions associated with investments and carefully reading the pension fund rules which are an integral part of the pension accumulation agreement.

Depending on the amount accumulated in a 2nd pillar pension fund, it may be withdrawn as a lump sum (for less than EUR 5,000) or by periodic payments (for EUR 5,000 to EUR 10,000), or a pension annuity may be acquired (when EUR 10,000 to EUR 60,000 is accumulated) which may be one of three types: standard, standard with a guaranteed payment period, or deferred. In the case of a standard annuity, the entire accumulated amount is allocated to acquire the annuity, with pension payments starting as soon as the annuity is acquired and continuing as long as you live. For a standard annuity with a guaranteed payment period, payments are also made as long as you live, but time payment until the participant reaches the age of 80 is guaranteed – if the participant dies earlier, the unpaid amount can be inherited. For both types of standard annuity, the entire accumulated amount is allocated to acquire the annuity and the state social insurance fund pays the benefits in addition to the old-age pension paid by the state. In the case of a deferred annuity, until the age of 85 benefits are paid from the private pension fund (out of the assets remaining after acquisition of the deferred annuity) and those assets can be inherited. From the age of 85, meanwhile, benefits are paid by the state social insurance fund and are not inheritable. If more than EUR 60,000 is accumulated, then the pension assets exceeding that amount may be paid out as a lump sum, while the remainder is paid while you live according to the type of annuity acquired. You can learn more about pension annuities here.

All the information presented is of a promotional nature and cannot be construed as a recommendation, offer or invitation to accumulate money in pension funds managed by INVL Asset Management. The information provided here cannot be the basis for any subsequently concluded agreement. Although this information of a promotional nature is based on sources considered to be reliable, INVL Asset Management is not responsible for inaccuracies or changes in the information, or for losses that may arise when investments are based on this information.