Financial Services, Funds, Investments, Lithuania

The company, which manages pension and mutual funds and provides other investment services, had EUR 249 million of assets under management at the end of September 2015, INVL Asset Management said in a statement.

The companies INVL Asset Management, MP Pension Funds Baltic and INVL Fondai were merged after permission was received from the Bank of Lithuania to reorganise the pension accumulation company MP Pension Funds Baltic and transfer the management of its pension funds to INVL Asset Management. On 29 September, the Board of the Bank of Lithuania approved the decision to invalidate the license of MP Pension Funds Baltic. After deregistration of MP Pension Funds Baltic and INVL Fondai, it is the company INVL Asset Management that operates in the market. The merger does not require clients to take any actions – all agreements remain in force.

"Having merged the companies, we are starting a new phase – we are going to actively expand the asset management business, with INVL Asset Management serving as the group's investing hub, providing services to both individuals and institutional investors," said Darius Sulnis, CEO of Invalda INVL and INVL Asset Management. Since investing is a key tool for creating future welfare, the company will seek to encourage an asset management culture in the country, he said.

In managing pension funds, INVL Asset Management offers a pension accumulation approach based on products that are suited to the ages of pension fund participants. Mutual funds are another asset management area that is relevant to individuals. The mutual funds managed by INVL Asset Management, which for several years now have earned strong international reviews, are available not only in Lithuania, but also in the Scandinavian countries and Germany. The company also offers products for those planning larger investments – from alternative investments and individual portfolios to private equity arrangements.

At the end of September 2015, INVL Asset Management had EUR 166.7 million of 2nd pillar pension fund assets under management as well as EUR 8.6 million in 3rd pillar pension funds, EUR 36.5 million in mutual funds and EUR 37.2 million in client portfolios.

Invalda INVL acquired the asset management companies INVL Asset Management (previously named Finasta Asset Management, with units in Lithuania and Latvia) and MP Pension Funds Baltic in 2014.

Companies in the Invalda INVL group, which has been in operation since 1991, manage pension and mutual funds, alternative investments, individual portfolios, private equity and other financial instruments. They currently manage more than EUR 300 million of assets entrusted to them by over 150,000 clients in Lithuania and Latvia as well as international investors.