INVL Asset Management, a Lithuanian asset management company, is changing the names of its investment funds. The new names will more clearly reflect their connection to the company managing them and will indicate the regions that the funds invest in. The rules for the investment funds have also been updated. The Bank of Lithuania has approved these changes.
"Changing the names of our investment funds, we want to clearly present the investment products we offer to our clients and potential investors," said Tomas Krakauskas, Chief Investment Officer at INVL Asset Management. Once the funds' names are changed, the name of the group managing them will be indicated by the word "INVL" (instead of "Finasta").
From now on, the INVL Baltic Fund (formerly the Finasta Baltic Fund), INVL Emerging Europe Bond Subfund (formerly the Finasta Emerging Europe Bond Subfund), INVL Emerging Europe ex Russia TOP20 Subfund (formerly the Finasta New Europe TOP20 Subfund), INVL Russia TOP20 Subfund (formerly the Finasta Russia TOP20 Subfund) and the INVL Global Flexible Subfund (formerly the Finasta Global Flexible Subfund) will be operating in the market.
The rules for the investment funds have also been renewed to specify the processes and conditions for the submission of reports to the fund's members and how the fund's units are sold and redeemed. Other changes have been made as well.
Considering that the company's investment funds are offered internationally, and keeping in mind the practice in various countries of applying a fund distribution fee, the maximum size of this fee has been raised to 5 percent.
INVL Asset Management manages five investment funds. At the end of 2015, the combined assets under their management totaled to 31.7 mil. Euros. Currently, four of these funds are distributed not just in Lithuania, but in Latvia, Germany, Sweden, Finland, Norway and Denmark as well. The group's investment funds have been acknowledged and consistently highly rated by international agencies.
According to data for the first half of 2015 provided by the Bank of Lithuania, INVL Asset Management led Lithuania in the number of investment fund participants by occupying 48 percent of the market. Almost every second member of this market chose investment funds managed by this group.
INVL Asset Management belongs to one of the Baltic region's leading asset management groups, Invalda INVL. This group's companies manage pension and investment funds, alternative investments, individual portfolios, private capital and other financial tools. More than 150,000 clients in Lithuania and Latvia and international investors have entrusted the group with more than 300 mil. Euros in assets.
The new names of INVL Asset Management's investment funds
|
New investment fund name |
Former investment fund name |
|
INVL Baltic Fund |
Finasta Baltic Fund |
|
INVL Emerging Europe Bond Subfund |
Finasta Emerging Europe Bond Subfund |
|
INVL Emerging Europe ex Russia TOP20 Subfund |
Finasta New Europe TOP20 Subfund |
|
INVL Russia TOP20 Subfund |
Finasta Russia TOP20 Subfund |
|
INVL Global Flexible Subfund |
Finasta Flexible Subfund |