INVL Asset Management acquires Prudentis Baltic Fund
INVL Asset Management, offering the largest scope of investment products in Lithuania, has acquired Prudentis Baltic Fund, the fund that focuses on Baltic companies‘ equity. Lithuanian as well as Swedish investors can already become clients of the fund.
The Prudentis Baltic Fund invests into shares of companies that operate in the Baltic States thus benefiting from the exclusively rapid economic growth of the region. Currently the biggest part of the assets of the funds is invested into companies that are listed on Vilnius and Tallinn stock exchanges. Up to 50 percent of assets may also be invested in companies that are active in the Baltics but are listed on Scandinavian or Polish stock exchanges.
The acquired equity fund has been operating for eight years already and has been given one of the highest ratings – four stars out of five maximum – by Morningstar, independent international rating agency. Mutual funds are rated by Morningstar based on return and risk ratio, yield, taxes paid, the level of professionalism of the manager and other indicators. The new manager of the fund, INVL Asset Management, will continue with the existing investment strategy and will strive for even better results and higher value of assets of the fund by attracting new investors.
„We anticipate huge potential for investments in Baltic companies’ shares – recovering economy supports further growth of stock funds. And our expertise and knowledge of the Baltic region market allows us to expect positive investment return for current and future customers of the fund that are based not only in Lithuania”, says Tomas Krakauskas, Deputy Director of INVL Asset Management.
According to him, acquiring this fund is one more purposeful step of Finasta towards widening the range of services and expanding customer geography. At the end of 2012 INVL Asset Management was granted the authorization of Swedish Finance Inspectorate to carry out activities in Sweden. All mutual funds of the company are now being traded in euros and soon will also be available in foreign markets.
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