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.
INVL Asset Management had revenue in 2015 of EUR 1.9 million (not including MP Pension Funds Baltic's revenue of EUR 0.8 million for the first 9 months of 2015, before it was merged with INVL Asset Management in October). Due to the reorganisations that were carried out, the company last year had a net loss of EUR 571 thousand.
INVL Asset Management is part of Invalda INVL, one of the Baltic region's leading asset management groups, whose preliminary consolidated net profit last year was EUR 4.5 million and increased 11.5 per cent compared to 2014.
As of year-end, INVL Asset Management's pension funds had assets under management of EUR 196 million (EUR 184.2 million in 2nd pillar pension funds and EUR 11.8 million in 3rd pillar funds), while its mutual funds had EUR 32.5 million. Assets in investment portfolios that the company manages were EUR 38.2 million
"We link our long-term success first of all with good asset-management performance and the creation of value for our clients. We're pleased that we managed to achieve these objectives last year – the vast majority of the funds we manage earned a significant return. This year we plan to grow in all asset management segments, both pensions and mutual funds and also private equity," said Darius Šulnis, the CEO of INVL Asset Management.
INVL Asset Management's pension funds, which are tailored to participants' ages, stood out in the market in 2015 for their short-term and long-term performance. As reported by the Bank of Lithuania, in terms of return achieved last year the 2nd pillar pension funds managed by INVL Asset Management ranked first in the country in the small equity share and the equity categories, and second in the conservative investment and the medium equity share categories. The company’s 3rd pillar pension funds ranked first in all categories for return last year. In terms of the 5-year average annual return, the company's pension funds ranked first nationwide in two of the 2nd pillar and all of the 3rd pillar categories.
According to the company's annual report, there were 111,500 Lithuanian residents accumulating in the company's pension funds at the end of 2015, or 4.8 per cent more than the end-2014 total for Finasta Asset Management and MP Pension Funds Baltic. During the year, the number participants in the 3rd pillar pension funds increased by more than 10 per cent to 5,300 and those in 2nd pillar funds grew by 4.5 per cent to reach 106,200.
In the market for mutual funds, INVL Asset Management continued to rank first for number of clients, which reached 6,500 and comprised 47.1 per cent of all market participants. Additionally, the company’s mutual funds attracted a growing number of participants from abroad. Total foreign investments in mutual funds managed by the company during 2015 reached EUR 2 million. The company’s funds continued to earn high ratings from international agencies.
The value of assets in client portfolios managed by INVL Asset Management totalled EUR 38.2 million at the end of 2015 and increased 35.9 per cent during the year.
After completion of the merger of INVL Asset Management, MP Pension Funds Baltic and INVL Fondai in October 2015, it is INVL Asset Management that now operates in the market. The Invalda INVL group acquired the INVL Asset Management (formerly Finasta Asset Management) companies in Lithuania and Latvia as well as MP Pension Funds Baltic in 2014.
Companies in the Invalda INVL group in Lithuania and Latvia manage more than 20 mutual, real estate and pension funds (2nd and 3rd pillar), alternative investments, individual portfolios, private equity and other financial instruments. More than 150,000 clients in Lithuania and Latvia as well as international investors have entrusted over EUR 300 million of assets to the companies in the group. The shares of Invalda INVL have traded on the Nasdaq Baltic securities exchange since 1995.