The asset management company INVL Asset Management has merged the INVL Global Flexible Subfund into the INVL Baltic Fund. After the merger, the INVL Baltic Fund has assets under management of EUR 2,658 million.
"With this merger of funds, we've further concentrated our investments in the regions we know best. We believe in the future of the Baltic economies and think these countries can continue to maintain rapid paces of economic growth which will also be reflected in stock index returns," said Tomas Krakauskas, the head of the Investment Management Department at INVL Asset Management.
On the date of completion of the merger of the funds, the INVL Baltic Fund assumed the assets and liabilities of the terminating INVL Global Flexible Subfund. The participants of the INVL Global Flexible Subfund have become participants of the INVL Baltic Fund, and the INVL Global Flexible Subfund has ceased operations. Units held by participants of this subfund were converted free of charge into units of the INVL Baltic Fund.
Following the fund merger, the INVL Baltic Fund has more assets and a larger number of participants. As a result, the fund's fixed fees will be distributed among more participants.
The INVL Baltic Fund invests in the shares of companies that are publicly traded on Baltic markets or actively operate in the Baltic countries. In late April it earned international rating agency Lipper Leaders' highest marks in the "Total Return" and "Expense" categories for the full period since the fund's inception.
INVL Asset Management is part of 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 and other financial instruments. They manage over EUR 300 million of assets entrusted to them by more than 150,000 clients in Lithuania and Latvia as well as international investors.