INVL Asset Management companies announces a merger of funds managed in Lithuania and Latvia
Completion of the funds’ merger is planned on 19 January 2016.
The Latvian and the Lithuanian supervisory institutions approved the merger of the funds on 2 December, 2015. The Invalda INVL asset management group companies made the decision to merge funds seeking to optimize the management of its investment funds.
After the merger, the participants of Finasta Oblig?ciju Fonds and Finasta Sabalans?tais Fonds will become participants of the Finasta Emerging Europe Bond Subfund, which is registered in Lithuania and distributed on an international scale. Their investments will come under the rules of the Finasta Emerging Europe Bond Subfund. Finasta Oblig?ciju Fonds and Finasta Sabalans?tais Fonds, which currently operate in Latvia, will cease operations after the merger.
Participants of the Finasta Emerging Europe Bond Subfund, which operates in Lithuania, will not experience any significant impact or restriction of rights due to the planned merger. Their investments will continue to accumulate on the same terms, with no change to the investment fund rules, investing risk, policy on applicable deductions or issuing of periodic account statements.
The merger is intended to ensure maximum possible return on investments for clients. The Finasta Emerging Europe Bond Subfund which will continue after the merger is more liquid and has smaller management costs than the funds being merged into it, and its past investing results are better.
The Finasta Emerging Europe Bond Subfund currently has EUR 16.94 million of assets under management, while Finasta Oblig?ciju Fonds has EUR 1 million and Finasta Sabalans?tais Fonds has EUR 0.97 million of assets.
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