OREANDA-NEWS. On 19 August 2008 was announced, that according to the performance results of Latvian pension fund managers as on 31 July 2008, all Parex pension plans since the beginning of 2008 as well as since their  inception have brought positive returns. Parex Active Pension Plan has proved to be the most profitable among the Pension System’s 2nd pillar pension plans since its launch (7 January 2003) with annual return reaching +6.14%, showing the best indice, expressed in interest per annum, among all Latvian pension plans since their inception.

For Global fund markets 2008 has become a rather shaky year, however, just in this complicated market situation Parex Asset Management (PAM) has demonstrated itself as a professional fund manager aimed at gaining profit regardless of the market environment. The situation in the segment of conservative plans also confirms the previously stated as Parex Universal Pension Plan maintains its position in the top three of the most profitable pension plans since inception (return per annum +4.17% since 7 January 2003).

The ability to show persistent profitability is crucial to pension plans. Thus, for instance, even a seemingly unsignificant difference in the average annual yield of pension plans, will result in a tangible difference in the accumulated retirement fund.

Mr.Roberts Idelsons, the President of Parex Asset Management explains the reason for such distinctions of the profitability indices of different pension plans in a complicated market situation: “PAM is performing an active management of its pension plan investment portfolio, modifying the distribution between the risky (shares) and conservative (deposits, bonds) actives, considering the respective market situation. Several other managers are less flexible, allocating the investments in pre-fixed proportions with no modifications even if the market situation demands determined actions. That is why the policy of Parex pension plan management yields better results both short-term and long-term, which may be very well observed when comparing the profitability results.”

Information on the profitability of pension plans and the number of participants: www.manapensija.lv.

More detailed information on Parex pension plans:

www.parex.lv/lv/private/pension/scheme/aktivais_pensiju_plans

www.parex.lv/lv/private/pension/scheme/universal.