LHV Pensionifond S
Active Management
10%
-10%
10%
10 year net yield
2
1
7
Risk level
19.68%
0%
100%
Invests into Estonia
8007
Fund investors

Suitable if

  • you have 2–5 years left until retirement age,
  • you have low risk tolerance,
  • your aim is the preservation and modest growth of your pension savings.
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Strategy

The Fund's assets are mainly invested in bonds. The Fund's assets may be invested in sub-investment grade bonds. Up to 25% of the fund's assets may be invested in real estate, infrastructure, equity funds and convertible bonds. The Fund may also grant a loan. The long-term preferred asset class of the fund is listed debt instruments.

Performance
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Current year
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The Fund's return is expressed as the net yield after deduction of all fees.

Biggest investments

The data is presented as at 30.06.2021

Biggest investments
Luminor 0.792% 03/12/249.52%
German Treasury Bill 25/08/20219.04%
German Government 1.5% 04/09/227.40%
German Government 2.25% 04/09/216.57%
Temasek 0.5% 01/03/226.29%
Latvenergo 1.9% 10/06/226.08%
Riigi Kinnisvara 1.61% 09/06/275.70%
France Government 3.25% 25/10/215.04%
German Government 3.25% 04/07/215.03%
France Treasury Bill 25/08/20214.99%

Biggest investments in Estonia

Biggest investments in Estonia
Luminor 0.792% 03/12/249.52%
Riigi Kinnisvara 1.61% 09/06/275.70%
Transpordi Varahaldus 2.85% 18/04/254.20%

Asset Classes

The data is presented as at 30.06.2021.

Information about the fund

Information about the fund
Volume of the fund (as of 30.06.2021)42,086,162.11 €
Management companyAS LHV Varahaldus
Equity in the fund150 000 units
Rate of the depository’s charge0,054% (paid by LHV)
DepositoryAS SEB Pank

Entry fee: 0%

Exit fee: 0%

Management fee: 0,576%

Success fee: no commission

Ongoing charges (inc management fee): 0.62%

Ongoing charges are based on expenses for the last calendar year, ie 2020. Ongoing charges may vary from year to year.

June 2021: We acquired Eastnine bonds

Kristo Oidermaa and Romet Enok, Fund Managers

As a major new investment, we acquired the bonds of Eastnine, a real estate company focused primarily on office buildings in Vilnius. The company issued bonds for the first time, the money was borrowed for three years, and investors are paid 5% interest per annum. Should interest rates in Europe rise so much that Euribor becomes positive again, this will be in addition to the 5% annual interest rate under the terms of the bond. The company is listed on the Stockholm stock exchange, and bonds are an important part of its financing plan.

May 2021: We sold Ignitis bonds

Kristo Oidermaa and Romet Enok, Fund Managers

In May, we sold the bonds in the Lithuanian state energy company Ignitis. The company raised funds through the bond issue in May last year, and since then, the price of the bonds had risen by a little more than 10%. In addition, the bonds have an annual interest rate of 2%.

However, there are extremely few attractive opportunities to invest in bonds, which is why the fund made no new investments last month. European bond markets were again slightly negative in May. This was mainly due to inflation and expectations about its future.

April 2021: Bond investors exposed to inflation risk

Romet Enok, Fund Manager

Investors continue to expect that rising government spending will help countries out of the coronavirus crisis. In all likelihood, a price rise will be one of the side effects of the process. This would directly affect bond investors, as the payments promised to them are fixed in advance and will not increase with prices. The European government bond market fell just over 1% last month, but 3% since the beginning of the year.

The riskiest government bonds – the ones with the longest maturity, i.e. German and US 30-year bonds, have fallen about 14% since the beginning of 2021. As we have already assured in our monthly reviews, LHV pension funds do not have any such long-term fixed-interest investments. We have kept the assets of our funds protected and we are ready to buy again as soon as attractive opportunities open up.

Investors’ risk appetite continues to raise asset prices
Andres Viisemann, Head of LHV Pension Funds

June was another good month that exceeded expectations in the international securities markets: Shares of large US companies rose 5.4% in euros. The rise in European stock markets was somewhat smaller, reaching 1.6%.