News

If money was no obstacle, people in Lithuania would spend their time in retirement on hobbies, gardening and travelling the world

If they were not limited financially, people in Lithuania would most like, after retirement, to spend their time on hobbies, tending their yard or garden, and travelling the world. That was shown by a representative survey for INVL Asset Management, one of Lithuania’s leading asset management companies, conducted this summer by Spinter Tyrimai. Financial experts note that realizing such desires is only possible with advance preparation and the accumulation of a supplementary pension.

Employers do not give enough importance to reputation and social responsibility

Companies in Lithuania do not yet give enough importance to their reputation and social responsibility when it comes to attracting employees: these factors are more important to potential employees in choosing an employer than they are to companies. But employers’ and employees’ opinions coincide with regard to the importance of remuneration and incentives. That was shown by opinion polls of Lithuanian residents and company heads conducted this spring by Spinter Tyrimai on behalf of INVL Asset Management, one of Lithuania’s leading asset management companies.

Survey: How people in Lithuania plan their expenses and their income

The majority of people in Lithuania plan both their income and their expenditures, and most also know their family’s most important monthly expenses. But only just over one in five people make plans for their own and their family’s finances, and most of those plans are for a shorter length of time than is recommended. Such are the findings of a survey of the country’s residents conducted by Spinter Tyrimai in February this year on behalf of INVL Asset Management, one of Lithuania’s leading asset management companies.

Survey: employees’ and employers’ views on long-term incentives coincide only with regard to wage bonuses

Surveys show that employers and employees in Lithuania rate the impact of incentives on long-term motivation differently. While employers place more value on measures directly linked to work, employed persons say that other things would encourage their long-term loyalty more – solutions focused on their personal needs, like long-term pension accumulation or health insurance. That was shown by surveys of residents and company heads conducted this spring by Spinter Tyrimai for INVL Asset Management, one of Lithuania’s leading asset management companies.

Survey: Lithuanian parents most often give their children 1-2 euros of pocket money a day

As a new school year approaches, parents’ wallets will soon feel the pinch not only of all the direct costs involved in sending their kids to school, but also of the pocket money children need for small everyday expenses. Experts say pocket money is also a great practical way to teach children to manage their money and develop financial literacy.

More than a third of people who invest aim to save for their children’s education

The share of Lithuania residents who invest with the goal of saving up for their children’s higher education has risen sharply in the last two years. This year 35% of people who invest stated that goal, compared to just 16% two years ago. The change was revealed by representative surveys of Lithuanian residents conducted by Spinter Tyrimai for INVL Asset Management, one of Lithuania’s leading asset management companies.

Only 18% of people in Lithuania invest in their professional growth

To remain competitive, keep a strong position in the job market and lock in stable and growing income for yourself, it helps to have the right qualifications and continually grow. In Lithuania, though, only less than one-fifth of people invest in their professional growth. The main reasons for not doing more in this area are a lack of money and not seeing the need.

Men in Lithuania more often invest, women more often save and plan

While the investment objectives of men and women coincide, there are more men in Lithuania who invest than there are women. On the other hand, women more often save, more closely track family expenditures for key needs, and make financial plans for a longer period than men do. These investment and saving differences between the sexes were revealed by a representative survey of Lithuanian residents which was conducted on behalf of INVL Asset Management, one of Lithuania’s leading asset management companies, in February this year by Spinter Tyrimai.

INVL Special Opportunities Fund was launched

INVL Asset Management, one of Lithuania’s leading asset management companies, has launched a new venture capital sub-fund intended for informed investors - INVL Special Opportunities Fund - which will indirectly invest in the shares of Moldova-Agroindbank (MAIB), the largest bank in Moldova. The sub-fund started its activities on 24 July of this year, after the Bank of Lithuania approved its founding documents.

INVL Asset Management expands the options for supplementary pension accumulation online

INVL Asset Management, one of Lithuania’s leading asset management companies, has expanded the options for 3rd pillar pension accumulation online. From now on, mobile signature holders can become the company's clients and start accumulating in company-operated 3rd pillar pension funds in approximately 15 minutes – by logging in online just once.

Second offering of INVL Baltic Forests Fund I raises EUR 10 million

INVL Asset Management, one of Lithuania’s leading asset management companies, completed a second non-public offering of the INVL Baltic Forests Fund I for informed investors. The maximum amount of EUR 10 million for this round was raised. The fund’s units were distributed by the financial brokerage firm INVL Finasta.

INVL Asset Management broadens the options for supplementary pension accumulation

INVL Asset Management, one of Lithuania’s leading asset management companies, is expanding the options for supplementary pension accumulation. On 14 May the Bank of Lithuania approved updated rules for the supplementary voluntary accumulation (3rd pillar) pension funds which the company operates. Based on those rules, in light of people’s differing savings needs, effective 14 June INVL Asset Management will offer the possibility of accumulating in two types of 3rd pillar pension funds.

Half of people in Lithuania would value employer contributions to a 3rd pillar pension fund

Employer contributions to a 3rd pillar pension fund would motivate a full 50% of people in Lithuania, and this type of added benefit would be valued most by those who earn most and are most highly educated. That was shown by a representative survey of Lithuanian residents conducted for INVL Asset Management, one of the country’s leading asset management companies, by Spinter Tyrimai in February 2018.

INVL Russia TOP20 Subfund wins top award in Germany among Russia equity funds

The INVL Russia TOP20 Subfund operated by INVL Asset Management, one of Lithuania’s leading asset management companies, earned top honours at the Thomson Reuters Lipper Fund Awards in Germany for five-year performance among funds that invest in Russian equities. A total of 21 investment funds were assessed in that classification, with the winner being the one with the highest Lipper Leader for Consistent Return (Effective Return) value over the specified period.

Lithuanian Investment Index: Stocks again brought the biggest gains in 2017

The Lithuanian Investment Index for 2017 compiled by INVL Asset Management, one of the country’s leading asset management firms, shows shares of Lithuanian companies continued their victory march last year, outperforming the country’s other main asset classes. The return on stocks was 17%, while that on rental housing was 7.7%. Long-term Lithuanian bonds fell short of the country’s 3.7% inflation rate with a return of 0.4%, and for a second year in a row deposits gave no return. The return on housing prices, at 3.6%, was also less than inflation last year.

Euromoney: INVL Finasta is best in Lithuania for high net worth client services

The 2018 Private Banking and Wealth Management Survey published by the finance magazine Euromoney rates the Invalda INVL group’s wealth management firm INVL Finasta as the best in Lithuania in the category of services for high net worth clients (assets of USD 5 million to USD 30 million). It also rates the company as the overall best provider of private banking services in the country.

INVL Asset Management acquires 51 per cent of asset management company Mundus

INVL Asset Management, one of Lithuania’s leading asset management companies, has acquired a controlling stake in the asset management company Mundus and owns 51 per cent its shares. The transaction, for which the Bank of Lithuania granted permission on 22 January, was completed on 2 February. The remaining 49 per cent of shares are held in equal parts by Mundus founders Martynas Grikinis and Audrius Mozūras.The size of the transaction is not public.

INVL Asset Management to take controlling stake in asset management company Mundus

INVL Asset Management, one of Lithuania’s leading asset management companies, will acquire a controlling stake in the asset management company Mundus and after the transaction will hold 51 per cent of that company’s shares. The remaining 49 per cent of shares will be held in equal parts by the company’s founders Martynas Grikinis and Audrius Mozūras. The Bank of Lithuania on 22 January granted permission for the transaction, completion of which is planned in the near future. The size of the transaction is not public.

INVL Absolute Return Subfund will seek gains by not limiting investment alternatives

INVL Asset Management, one of Lithuania’s leading asset management companies, has launched a new mutual fund – the INVL Absolute Return Subfund – which is able to invest in diverse asset classes without restrictions on the proportions of the fund’s assets that may be allocated, at times thus even reaching 100% equity or 100% bonds. The fund’s main principal for choosing investments will be expert assessment in terms of regions, countries, asset classes or specific investment ideas.

L. Križinauskienė: We expect positive changes this year, too

We want to start the New Year with good news – which we’re happy to say there’s a lot of! First, last year brought gains for those who chose the majority of our company’s products. Second, more and more clients chose those products, internationally, too. And third, we introduced some new very relevant investment opportunities. We’ve begun this year, meanwhile, with aims to further expand our business not just in Lithuania, but also abroad.

INVL Asset Management earned EUR 27.1 million for pension and mutual fund participants

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.

Only one in six people in Lithuania plan their finances: how to start in the New Year?

As the year comes to an end, it’s common to not just assess the period gone by, but also to pledge to do something new. Some people decide to take up sport, others to shake off a tiresome habit, and still others resolve to learn new things. Financial experts, for their part, suggest including matters related to planning and saving money on one’s list of resolutions this year.

INVL Asset Management establishes closed-end investment fund

INVL Asset Management, one of Lithuania’s leading asset management companies, has established a new closed-end investment fund intended for informed investors, the INVL Alternative Assets Umbrella Fund II, and its first subfund, the INVL Partner Energy and Infrastructure Fund. They began operations after the Bank of Lithuania approved the fund rules on 20 November this year.

INVL Asset Management has taken over the management of the Swedbank Supplementary Pension Fund

INVL Asset Management has assumed the management of the Swedbank Supplementary Pension Fund, a supplementary voluntary (3rd pillar) pension accumulation fund. Documents completing the transaction between the company and the fund’s management company until now, Swedbank Investicijų Valdymas, were signed today, on 2 November. Permission for the transaction was given on 24 July this year by the Bank of Lithuania.

Survey: Women seek a bigger future pension, men more often invest

Most people in Lithuania think that for good quality of life after retiring they would need 75-100 per cent of their current income. The same level of income as they get now would be sought by 44 per cent of the country’s residents – 48.5 per cent of women and 39.7 per cent of men. Another 30 per cent of people – a third of men (34 per cent) and a quarter of women (27 per cent) – say 75 per cent of their current income would suffice for a quality life as pensioners. These trends were revealed by a survey of investment and saving habits commissioned by INVL Asset Management, one of the country’s leading asset management companies.

INVL Asset Management can now also manage collective investment undertakings intended for professional investors

INVL Asset Management, one of Lithuania’s leading asset management companies, from now on can also manage collective investment undertakings intended for professional investors. It was granted this right by the Bank of Lithuania, which on 2 October this year issued the company a licence to conduct activities under the Law on Management Companies of Collective Investment Undertakings Intended for Professional Investors.

INVL Asset Management assuming management of Swedbank Supplementary Pension Fund

INVL Asset Management is taking over the management of Swedbank Investicijų Valdymas’s Swedbank Supplementary Pension Fund, a supplementary voluntary pension accumulation fund which until 23 March this year operated under the name Danske Pension Plus. The Bank of Lithuania gave permission for this transaction on 24 July. Completion of the transaction and assumption of the fund’s management by INVL Asset Management is planned in three months’ time.

As investment amounts grow, goals remain the same: pension, extra income, children’s education and housing

Investment amounts in Lithuania are gradually increasing. According to the Bank of Lithuania, assets people in the country had entrusted to management by professionals totalled 4.15 billion euros at the end of 2016 and grew 16.8 per cent during the year. A recent survey of residents also confirmed investment is rising – it shows that the number of people in Lithuania who invest increased from 13 per cent to 16 per cent last year.

Lietuvos Energija bonds are a historic step in history of Lithuanian finance

Company Lietuvos Energija today announced it will market a EUR 200-million-euro issue of bonds with a maturity of 7-10 years. The international credit-rating agency S&P gave the Lietuvos Energija bonds a high investment-grade rating of BBB+, i.e., just one step below the Lithuanian state’s rating. Lietuvos Energija is issuing so-called “green bonds”, the proceeds of which will be used for investments in green power development.

Žemaitijos Pienas dividend payment of EUR 14 million proposed

The asset management companies Orion Asset Management and INVL Asset Management propose that dairy company Žemaitijos Pienas pay dividends for 2016 of EUR 13.891 million, or EUR 0.30 per share. The corresponding proposal was submitted to Žemaitijos Pienas last week.

2016 Lithuanian Investment Index: Stocks earned the biggest return

The 2016 Lithuanian Investment Index compiled by INVL Asset Management, one of the country’s leading asset management firms, reveals that investments last year in Lithuanian company shares, government bonds and real estate earned a positive return, while the return on deposits was nil. The return on the Lithuanian Investment Index last year was 6.7 per cent. Investments in stocks in the country stood out with a gain of 14.9 per cent. Meanwhile, the return on rental housing was 9.7 per cent, while long-term bonds returned 2 per cent – slightly more than the inflation rate of 0.7 per cent.

As people changed 2nd pillar pension fund companies, INVL Asset Management gained the largest number of clients

INVL Asset Management, a leading Lithuanian asset management company, had the biggest growth in client numbers due to people in the country who decided in 2016 to change their 2nd pillar pension accumulation fund companies, according to the “Review of Lithuania’s 2nd and 3rd Pillar Pension Funds and of the Market of Collective Investment Undertakings” published by the Bank of Lithuania.

INVL Asset Management to offer informed investors the chance to invest in forests

INVL Asset Management, one of Lithuania’s leading asset management companies, has established the first closed-end umbrella fund intended for informed investors, the INVL Alternative Assets Umbrella Fund, and its subfund, the INVL Baltic Forests Fund I. They began operations on 13 February this year after the Bank of Lithuania approved the fund rules.

INVL Asset Management clients enjoyed gains in 2016

The investment products managed by INVL Asset Management, one of Lithuania’s leading asset management companies, earned positive returns in 2016. Gains were achieved by the eight 2nd and 3rd pillar pension funds and four mutual funds which the company managed throughout all of last year. The INVL Global Emerging Markets Bond Subfund, which launched in July, also had a positive performance.

INVL Asset Management assumes the management of INVL Baltic Real Estate after its receipt of UTIB licence

The real estate investment company INVL Baltic Real Estate on 22 of December has been granted a closed-end investment company (UTIB) licence by the Bank of Lithuania. In accordance with the company’s Articles of Association, UTIB INVL Baltic Real Estate will operate for 30 years, until 22 December 2046, with extension possible for a further 20 years. The company having obtained UTIB status, its management has been assumed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltic countries. An investment committee formed by INVL Asset Management will take the decisions regarding UTIB INVL Baltic Real Estate’s investments and activities.

A third of Lithuanian residents rely on support from their parents

Parents help more than a third of Lithuania’s residents make ends meet, and nearly one in ten get financial support from their parents. Most reliant on their parents’ financial support are people aged 18-25 and those still in school or at university, as well as unmarried persons and those with an incomplete secondary education. At the same time, the youngest adult residents, who benefit most from such support, also stand out among other age groups as those who least plan their expenditures. These trends were revealed by a survey of Lithuanian residents’ investment and saving habits commissioned by INVL Asset Management, one of the country’s leading asset management companies.

First-ever index of Lithuanian investment returns: it paid off to invest over the past 20 years

It paid off to invest in Lithuania over the past 20 years – investments in the country’s main asset classes over the period earned an average return higher than inflation and were profitable, with rental housing and stocks performing best while deposits provided the smallest return. For the 10-year period 2006-2015, which was impacted by the global financial crisis, long-term bonds delivered the highest average return on investments in Lithuania, while purchased housing in the country had the lowest return. Long-term bonds and pension funds outperformed inflation in this period.

INVL Asset Management fund manager’s Russian equity returns nearly double the industry average

Citywire, the international asset management analysis service, identified INVL Asset Management’s Dainius Bložė as the fund manager who has most consistently outperformed peers in the Russian equity markets, achieving roughly double the average return of other equity investors in the region in the 5 years to August. It said 46 fund managers currently work in the sector.

Men more often still make the financial decisions in Lithuanian households

Men most often deal with household financial issues, and in making decisions usually draw on and most trust their own experience. Women, meanwhile, tend more than men to entrust financial matters to spouses or partners and to rely less on their own experience. These trends were revealed by a survey of Lithuanian residents’ investment and saving habits commissioned by INVL Asset Management, one of the leading asset management companies in Lithuania.

Andrej Cyba becomes Chairman of the Board at INVL Finasta brokerage firm

Andrej Cyba has become Chairman of the Board of the wealth-management financial brokerage firm INVL Finasta. He joined the company’s board on 27 September this year, after receiving the approval of the Bank of Lithuania, and was elected chairman. Since August, he is also Chief Business Development Officer at INVL Asset Management, one of the leading Lithuanian asset management companies. Both INVL Finasta and INVL Asset Management are part of Invalda INVL, one of the Baltic region’s leading asset management groups.

Survey: Most people in Lithuania aim to save EUR 5,000-10,000 for their children’s education

Saving for their children’s higher education is one of the most important goals pursued by people in Lithuania who engage in investment activity. This goal was indicated by 16 per cent of respondents who invest. It ranked third, after the goals of saving money for retirement (mentioned by 68 per cent of respondents) and having some additional income (27 per cent).

Survey: Most of country’s residents still expect to live off social insurance in old age

The vast majority of people in Lithuania – 83 per cent – expect after retiring to live off state social insurance (SODRA), while only a relatively small share of respondents will utilise other forms of saving and accumulation for old age: 36 per cent will support themselves with pension fund pay-outs and 11 per cent will count on permanent life insurance benefits.

Invalda INVL joins the international association Invest Europe

Invalda INVL, one of the Baltic region’s leading asset management groups, together with its INVL Asset Management subsidiaries in Lithuania and Latvia, has become a full member of Invest Europe – the organisation that unites Europe’s private equity and venture capital sectors and investors.

Independent valuation proposed to determine value of Žemaitijos Pienas shares

Orion Asset Management and INVL Asset Management propose that the buyout price for the shares of Žemaitijos Pienas, which intends to withdraw from public trading, be set by an independent asset valuer. The proposal has been submitted by Orion Asset Management and INVL Asset Management, whose managed funds hold 5.34 per cent of the shares of Žemaitijos Pienas, to the meeting of shareholders of Žemaitijos Pienas which will take place on 26 August.

INVL Asset Management fund manager named among the world’s best

Citywire, an international provider of asset management news and analysis, has given special recognition to INVL Asset Management’s Vaidotas Rūkas as manager of the INVL Emerging Europe ex Russia TOP20 Subfund. In a July report, it named Rūkas one of the three best-performing fund managers in the Global Emerging Markets asset class.

INVL Asset Management to offer additional saving for retirement through Viena Sąskaita

From now on saving for one’s pension in any of the third pillar funds managed by one of the leading asset management companies in Lithuania INVL Asset Management is possible through an electronic system Viena Sąskaita. Under an agreement signed between the companies Viena Sąskaita is to provide domestic residents with a possibility of transferring contributions to additional voluntary savings pension funds managed by INVL Asset Management. INVL Asset Management is the first company in the country to offer additional pension saving through this system.

INVL Asset Management assumes the management of INVL Technology after its receipt of UTIB licence

INVL Technology, a company that invests in information technology businesses, has been issued a closed-end investment company (UTIB) license by the Bank of Lithuania. Under the company’s Articles of Association, UTIB INVL Technology will operate until 14 July 2026, with extension possible for a further two years. Now that the company has obtained the status of a closed-end investment company, its management is hereafter assumed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltic countries.

Survey: Men tend to plan big expenditures, women – all expenditures

While financial experts recommend planning one’s household expenditures, only slightly more than half of people in Lithuania do so, while another third only plan bigger expenditures. Women more often plan all expenditures, while men tend more only to foresee larger purchases. On the other hand, men invest more than women. Financial planning steadily increases with age as well as when a family is formed. These personal financial management trends were revealed by a survey of the investment and saving habits of the Lithuanian residents conducted on behalf of INVL Asset Management.

INVL Asset Management to scrap the minimum initial investment requirement in its investment funds

One of the leading asset management companies in Lithuania INVL Asset Management has scraped the requirement of a minimum initial investment, which was €25, in order to participate in the investment funds managed by the company. The company took this new approach drawing from the experience of Western Europe with the goal to encourage long-term investing by individuals.

New INVL Global Emerging Markets Bond Subfund to offer no-fee investment until 2018

INVL Asset Management, one of the leading asset management companies in Lithuania, is establishing a new mutual fund, which will invest into the bonds of the emerging markets. The INVL Global Emerging Markets Bond Subfund, which will start on 1 July, will be the first among investment bond funds, registered in Lithuania, to offer investment in bonds on a global scale. The new fund will focus on investing in government and corporate bonds not only in Europe, but also in Asia, Africa and North and South America.

INVL Asset Management to manage 14 asset-based investment categories for PZU Lietuva gyvybės draudimas

Investment managers of the asset management company INVL Asset Management will be managing 14 asset-based investment categories of unit-linked life insurance where investment risks pass onto the insurer on behalf of PZU Lietuva gyvybės draudimas. Their total value is over €11.7m. In total, PZU Lietuva gyvybės draudimas offers its clients to choose from 15 asset-based investment categories.

Assets managed by INVL Asset Management in Lithuania reach EUR 266.7 mln in 2015

The Lithuanian asset management company INVL Asset Management had assets under management of EUR 266.7 million at 31 December 2015. Compared to the corresponding 2014 figures for Finasta Asset Management and MP Pension Funds Baltic, assets under management increased by more than 13 per cent. At year-end INVL Asset Management was providing services to 118 thousand clients, which is 3.8 per cent more than a year earlier.

Scandinavian investors contribute to growth of INVL Asset Management’s biggest mutual fund

Scandinavian investors in recent times have been increasingly helping to boost the assets of the INVL Emerging Europe Bond Subfund, the biggest mutual fund manged by INVL Asset Management.  The fund’s assets exceeded EUR 20 million at the end of February: this year alone EUR 3.3 million have been added and the fund’s assets under management have increased by 20%. During 2015, the INVL Emerging Europe Bond Subfund’s assets under management grew by 29.3% – from EUR 12.9 million to EUR 16.69 million.

INVL Asset Management is changing the names of its investment funds

INVL Asset Management, a Lithuanian asset management company, is changing the names of its investment funds. The new names will more clearly reflect their connection to the company managing them and will indicate the regions that the funds invest in. The rules for the investment funds have also been updated. The Bank of Lithuania has approved these changes.

INVL Asset Management showcases mutual funds at international congress for investment professionals

INVL Asset Management, a Lithuanian asset management company, is presenting investment opportunities in mutual funds operated in Lithuania at Fonds Professionell Kongress, one of the largest congresses for mutual funds in Europe which began today. The fifteenth regular event is attended by over 200 global investment management, insurance companies and banks, including such leading global investment management companies as BlackRock, J.P. Morgan Asset Management, Goldman Sachs Asset Management, etc.

INVL Asset Management completes first cross-border investment fund merger

The INVL Asset Management companies in Lithuania and Latvia have combined the two Latvia-managed investment funds Finasta Obligāciju Fonds and Finasta Sabalansētais Fonds into the Finasta Emerging Europe Bond Subfund, which is managed in Lithuania. It was the first-ever merger of foreign investment funds into a fund operating in Lithuania, and was completed on 19 January 2016.

The majority of pension funds of INVL Asset Management ended the year in leading positions, despite market challenges

Although the global financial markets, which had been on an upward trend for the past seven years, came to a hault last year, the majority of the country’s pension funds successfully dealt with this challenge and ended the year with positive results. Last year the annual average return achieved by them amounted from1.5% (conservative funds) to 5–6% (equity funds). The results of the pension funds of INVL Asset Management, a Lithuanian asset management company, stood out -  based on the information announced by the companies managing the funds, the funds of INVL Asset Management took leading positions in all the categories of third pillar pension funds and in three out of four second pillar categories in terms of return earned last year*. 

INVL Asset Management completes merger of second pillar pension funds

Domestic asset management company INVL Asset Management announces that it has completed a merger of second pillar pension funds and from this day forward will be managing four second pillar pension funds instead of seven. The decision to merge pension funds was made in an effort to offer a clear and effective concept for building retirement income.

INVL Asset Management’s address in Vilnius is changing on 2nd of November

The address of INVL Asset Management in Vilnius is changing. Effective 19 October, the company will provide services to clients in the Lithuanian capital at its office in the Vilnius Gates complex at Gynėjų g. 14. The headquarters of INVL Asset Management will also be at the same address.

INVL Asset Management Pension Funds Hold Leading Positions for 9 Months of 2015

Pension fund results for nine month of this year put funds managed by INVL Asset Management in leading positions. According to the results published by the Bank of Lithuania, the company’s funds ranked first in two of the 2nd pillar categories and second in the two others for return achieved in the period, and led in all three 3rd pillar categories.

After merger, INVL Asset Management in Lithuania has nearly EUR 250 million assets under management

Invalda INVL, one of the leading asset management groups in the Baltic countries, announces that the merger of INVL Asset Management, MP Pension Funds Baltic and INVL Fondai has been completed and from now on the company INVL Asset Management will operate in the market. The company, which manages pension and mutual funds and provides other investment services, had 249 million euros of assets under management at the end of September 2015.

Merger of INVL Asset Management, MP Pension Funds Baltic and INVL Fondai Nears Completion

The process of merging INVL Asset Management, MP Pension Funds Baltic and INVL Fondai – companies that are part of Invalda INVL, one of the leading asset management groups in the Baltic countries – is currently being completed. The Board of the Bank of Lithuania on 29 September approved the decision to invalidate the license of MP Pension Funds Baltic, making it possible to complete the merger of INVL Asset Management, MP Pension Funds Baltic and INVL Fondai in the near future.

INVL Asset Management to Merge 2nd Pillar Pension Funds

INVL Asset Management will merge its 2nd pillar pension funds. The decision is based on the company’s goal of offering clients a clear and effective approach to saving for retirement. After the merger, INVL Asset Management will offer four pension funds in place the current seven. The Bank of Lithuania on 21 September approved the fund merger, completion of which is planned on 31 December 2015. The merger involves six of the seven 2nd pillar pension funds that the company manages.