II pillar

LHV Pensionifond S
Active Management • Balanced Strategy
10%
-10%
10%
10 year net yield
2
1
7
Risk level
13.37%
0%
100%
Invests into Estonia
9210
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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Acquisition price
Unit NAV
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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 31.01.2020

Biggest investments
Temasek 0.5% 01/03/224.93%
Latvenergo 1.9% 10/06/224.83%
Luminor 1.5% 18/10/214.68%
Riigi Kinnisvara 1.61% 09/06/274.41%
Transpordi Varahaldus 2.85% 18/04/254.07%
TOTAL 03/19/203.31%
Investor 4.5% 12/05/233.23%
Romania 2.875% 28/10/243.10%
SANOFI 1.875% 04/09/202.79%
Allianz 07/12/202.77%

Biggest investments in Estonia

Biggest investments in Estonia
Luminor 1.5% 18/10/214.68%
Riigi Kinnisvara 1.61% 09/06/274.41%
Transpordi Varahaldus 2.85% 18/04/254.07%

Asset Classes

The data is presented as at 31.01.2020.

Information about the fund

Information about the fund
Volume of the fund (as of 31.01.2020)54,444,561.76 €
Management companyAS LHV Varahaldus
Equity in the fund270 000 units
Rate of the depository’s charge0,0564% (paid by LHV)
DepositoryAS SEB Pank

Entry fee: 0%

Exit fee: 0%

Management fee: 0.60%

Success fee: no commission

Ongoing charges (inc management fee): 0.69%

Ongoing charges are based on expenses for the last calendar year, ie 2019. Ongoing charges may vary from year to year.

January 2020 – Šiaulių bankas financed a purchase transaction with bonds

Romet Enok, Fund Manager

Šiaulių bankas announced that they have concluded a contract in order to purchase a loan portfolio from the Lithuanian branch of Danske Bank. The EUR 125 million portfolio, mainly consisting of home loans, is related to private banking clients. In order to finance its growth, Šiaulių issued subordinated bonds for LHV pension funds at the end of December in the amount of EUR 20 million and at an interest rate of 6.15%.

At the same time, European bond markets showed a positive result in January for the first time since last summer. As this was the reaction of investors to the spreading of the coronavirus in China, the outlook for international bond markets remains unattractive.

December 2019 – We invested in the bonds of Šiaulių Bankas

Romet Enok, Fund Manager

At the end of December we reached an agreement with Šiaulių Bankas, the fourth largest bank in Lithuania, on the basis of which LHV’s pension funds invested in the company’s long-term bonds. The annual interest rate on the bonds is 6.15%, the final term is in ten years, and the bank reserves the right to repay these prior to the deadline in December 2024.

Šiaulių Bankas has since grown in such a manner that it serves 7-8% of the Lithuanian banking market. The bank’s biggest shareholder remains the European Bank for Reconstruction and Development (EBRD), which holds more than 25% of its shares. Long-term bonds help to fulfil the bank’s capital requirements, thereby allowing them to grow their loan portfolio.

November 2019 – Decline on European bond markets continued for the third month in a row

Romet Enok, Fund Manager

The main bond markets of Europe were again in decline in November. Following the peaks achieved in August, the downturn has been consistent and broad-based. Nevertheless, most of the bonds are still trading at an extremely unattractive price.

The sales volumes of new bonds are constantly breaking new records and more money is involved for an increasingly longer period, at times also for relatively weak projects. So it is that Greece, the primary troublemaker from a few years ago, is being granted a five-year loan with an annual interest rate of slightly more than half a percentage point.

Repayable investments are directed by the fund to relatively short-term bonds with high rating. The fund’s rate of return year-to-date is 1.3%.

Feeling more confident on rollercoasters
Andres Viisemann, Head of LHV Pension Funds

2020 began with a slight downturn on international stock markets: the Euro Stoxx 50 Index, which gathers together the largest companies in the euro zone, lost 2.8% in January. While the S&P 500, which tracks large corporations in the US lost 0.2% in dollars, it also managed to stay 1.2% higher when measured in euros.