LHV Pensionifond XS
Active Management • Conservative Strategy
10%
-10%
10%
10 year net yield
2
1
7
Risk level
19.58%
0%
100%
Invests into Estonia
4509
Fund investors

Suitable if

  • you have less than 3 years left until retirement,
  • you have low risk tolerance,
  • your aim is to preserve your savings and avoid losses.
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Strategy

At least 90% of the Fund's assets are invested in investment grade bonds, money market instruments traded on a regulated market, deposits, shares or other assets of other investment funds investing mainly in the above assets and other assets. The money raised for retirement remains stable. The assets of the Fund are invested in compliance with the rating restrictions imposed on the conservative pension fund by law. The long-term preferred asset class of the fund is low-risk 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% 03/12/249.79%
German Treasury Bill 25/08/20217.33%
German Government 1.5% 04/09/226.79%
France Treasury Bill 25/08/20215.76%
France Government 2.25% 25/10/225.24%
Temasek 0.5% 01/03/224.57%
Riigi Kinnisvara 1.61% 09/06/274.19%
BNP Paribas 2.875% 24/10/223.38%
Bank of America 04/05/233.34%
ALTUMG 1.3% 07/03/252.97%

Biggest investments in Estonia

Biggest investments in Estonia
Luminor 0.792% 03/12/249.79%
Riigi Kinnisvara 1.61% 09/06/274.19%
Transpordi Varahaldus 2.85% 18/04/252.93%

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)19,110,597.82 €
Management companyAS LHV Varahaldus
Equity in the fund80 000 units
Rate of the depository’s charge0,054% (paid by LHV)
DepositoryAS SEB Pank

Entry fee: 0%

Exit fee: 0%

Management fee: 0,486%

Success fee: no commission

Ongoing charges (inc management fee): 0.53%

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

June 2021: We steered clear of a bond market decline

Romet Enok, Fund Manager

June was moderately positive in European bond markets, with all major markets remaining on the positive side. However, the same cannot be said for the whole of the first half of the year. The economic recovery boosted interest in equities in the markets, which was understandably offset by a decline in the desire to buy low-risk bonds. In the lowest-risk securities, i.e. government bonds, the decline reached almost 3% in the first half of the year.

We have been refraining from adding bonds with higher price volatility to the fund for a long time, and therefore, the fund was not affected by the market decline in the first half of the year.

May 2021: We sold Ignitis bonds

Romet Enok, Fund Manager

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%.