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.
The report shows that 36 094 participants decided to switch 2nd pillar pension accumulation fund companies last year. Based on the numbers of arriving and exiting clients, INVL Asset Management had the biggest positive net change, with a gain of 4 292 clients – or over 60 per cent more than the second-ranked company for this indicator. During 2016 INVL Asset Management welcomed 7 105 clients who had decided to change their 2nd pillar pension fund company, while 2 813 left.
“We see that, in making decisions about saving for the future, people in the country are increasingly also taking pension funds’ results into account. We’re pleased that our pension funds were the leaders last year in most categories in terms of both their 1-year and 5-year performance,” said Dr Dalia Kolmatsui, the Head of Pension Funds & Retail at INVL Asset Management.
According to the pension fund results for 2016 published by the Bank of Lithuania, INVL Asset Management’s pension funds had the best 1-year and 5-year average annual returns in all 2nd pillar pension fund categories (small and medium equity share and equity pension funds) with the exception of conservative investment funds, among which it ranked third for performance in 2016 and second for average results in the last 5 years.
Among Lithuania’s 3rd pillar pension funds, those managed by INVL Asset Management were the top performers in all categories (bond, mixed investment, and equity pension funds) both for the return they achieved in 2016 and for their performance over the past 5 years.
INVL Asset Management manages four 2nd pillar and four 3rd pillar pension funds. According to the company’s data, it had 119 700 pension fund clients at the end of 2016, or 7.3 per cent more than a year earlier. Its pension funds’ assets under management grew 33.5 per cent during 2016, from 196 million euros to 261.6 million euros.
INVL Asset Management is a part Invalda INVL, one of the Baltic region’s leading asset management groups. Companies in the group manage pension and mutual funds, alternative investments, individual portfolios, private equity assets, and other financial instruments. As of the end of 2016, they had been entrusted with over 500 million euros of assets by more than 170,000 clients in Lithuania and Latvia and international investors.
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.