INVL Asset Management, one of Lithuania's leading asset management companies, is now also authorised to manage investment funds intended for well-informed investors. The Bank of Lithuania decided on 13 October to add such permission to the company's operating license.
It thus became the first asset management firm in Lithuania to have the right to manage both pension funds and investments funds intended for well-informed investors. Until now, INVL Asset Management has managed pension funds, mutual funds and investment businesses for retail investors, and portfolios belonging to private investors.
"We plan to expand our range of private equity and alternative investment products for experienced investors. We see the opportunities in the market and we concentrate on the investment areas that we know well and where we can mobilise a team of creative and responsible professionals. We believe our meticulous approach to selecting investments, and long years of experience managing them, create value for the individuals and institutions that choose our products," said Darius Sulnis, the CEO of INVL Asset Management.
Well-informed investors are defined as professional investors and persons who affirm their status as well-informed investors and meet other requirements of the law.
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, private equity assets, individual portfolios and other financial instruments. As of the end of June this year, more than 170,000 clients in Lithuania and Latvia and international investors had entrusted them with over 370 million euros of assets.