LHV Pensionifond Aktiivne III
Suitable if
- you have medium risk tolerance,
- you are aware of investment risks and wish to make long-term investments in a supplementary funded pension, with the aim of using the accumulated money tax-effectively after reaching retirement age.
Recipient
AS Pensionikeskus
Account
EE547700771002908125 - LHV Pank AS
EE961700017004379157 - Luminor Bank AS
EE141010220263146225 - SEB Pank AS
EE362200221067235244 - Swedbank AS
Explanation
30101119828, EE3600010294, IK:Your ID Code
Amount
Amount invested in euros.
Strategy
The Fund prefers to invest its assets in foreign markets, in more liquid instruments and in instruments traded on regulated markets. The Fund’s assets may be invested in shares, equity funds and other equity-like instruments. In addition to the above, the Fund’s assets may also be invested in bonds, money market instruments, deposits, units or shares in other investment funds, real estate, derivative instruments, securities whose underlying asset is a precious metal or a commodity or whose price depends on a precious metal or a commodity, and other assets. The Fund can also be used to borrow and lend. The Management Company may borrow up to 25% of the value of the Fund’s assets on the Fund’s account, which also allows for investing more than 100% of the value of the Fund’s assets, up to 125% of the value of the Fund’s assets, in equity risk instruments.
Biggest investments
The data is presented as at 31.12.2023
Biggest investments | |
---|---|
German Treasury Bill 19/06/24 | 7.08% |
France Government 2.25% 25/05/2024 | 6.91% |
German Treasury Bill 16/10/2024 | 6.67% |
France Treasury Bill 30/10/2024 | 4.99% |
ZKB Gold ETF | 3.93% |
German Treasury Bill 1% 15/08/2024 | 3.39% |
AMUNDI EURO STOXX BANKS UCITS ETF | 3.31% |
iShares Gold Producers UCITS ETF | 3.14% |
EfTEN Real Estate Fund | 3.05% |
Luminor 7.25% 16/01/2026 | 2.81% |
Biggest investments in Estonia
Biggest investments in Estonia | |
---|---|
Luminor 7.25% 16/01/2026 | 2.81% |
East Capital Baltic Property Fund III | 2.12% |
BIGBANK 7.5% 16/05/2032 | 2.10% |
Asset Classes
Information about the fund
Information about the fund | |
---|---|
Volume of the fund (as of 31.03.2024) | 29,419,527.55 € |
Management company | LHV Varahaldus |
Depository | AS SEB Pank |
Entry fee: 0%
Exit fee: 0%
Rate of the depository’s charge: 0.0439%
Management fee: 0.89%
Ongoing charges (inc management fee): 1.19%
Ongoing charges are based on expenses for the last calendar year, ie 2023. Ongoing charges may vary from year to year.
Terms and Conditions
Prospects
March 2024: Gold and energy metals made strong contributions
Kristo Oidermaa and Romet Enok, Fund Managers
Markets continued to rise in March, albeit at a slower pace than in previous months. The US S&P 500 index increased by 3.1% in dollars, and the European Euro Stoxx 50 rose by 4.3% in euros. Emerging markets gained 2.2% in dollars over the month, with China, the largest player on the market, slowing to 0.9% from the previous month. In contrast, the OMX Baltic Benchmark index fell by 2.5% in euros during the month.
In March, we increased our positions in the energy sector, where we see good opportunities due to underinvestment. During the month, gold and energy metal positions made the most significant contribution to the fund’s performance among equity positions, having increased between 6% and 24%.
Looking ahead, we still see good potential in our mineral investments, supported by structural undersupply in the sector.
February 2024: Stock markets continue their strong rise
Kristo Oidermaa and Romet Enok, Fund Managers
In February, stock markets remained on the upswing. The US S&P 500 index increased by 5.2% in dollars, and the European Euro Stoxx 50 rose by 5% in euros. The same trend was observed in emerging markets: the MSCI EM index rose by 4.6% in dollars during the month. The growth was driven predominately by China, which rose 8.4% in dollar terms during the month after prolonged declines. The OMX Baltic Benchmark index ended February with a small decline of –1.3%.
No major transactions were made in the stock portfolios during the month. The most significant contributors to the return in our portfolios were the European banks index, which rose by approximately 3%, and the Swedish company Lifco, which gained approximately 8% in value. The return was driven down by investments in precious metals, which decreased in the range of 4% to 12%. We continue to see good potential in the portfolio’s mineral positions, supported by structural undersupply in the sector.
In February, the East Capital Real Estate fund announced that it was acquiring a logistics park in Tänassilma, near Tallinn, with approximately 40,000 square meters of leasable area. The value of the transaction is 42 million euros, making it the largest transaction ever on the Estonian logistics buildings market. The complex has ten tenants, including DSV Estonia AS and Humana Sorteerimiskeskus OÜ. The logistics park is the fund’s tenth and latest asset.
Baltic Horizon Fund announced a large long-term loan agreement in Lithuania. The transaction means that the company has secured a large portion of the funds to repay the obligation assumed by the bonds issued in May 2023. The company already paid back the first tranche of bonds last year, and the money raised now brings the company considerably closer to paying back the next tranche. The fund has earned an interest of Euribor +8% on the bonds, plus premium payments for earlier redemptions.
January 2024: The tide kept rising in developed markets
Kristo Oidermaa and Romet Enok, Fund Managers
January was a positive month in developed markets. The US S&P 500 index increased by 1.6% in dollars, and the European Euro Stoxx 50 rose by 2.9% in euros. The situation was less positive for emerging markets, with the general index falling by 4.7% measured in dollars. The downward movement was mainly driven by China, which was down 10.6% in dollar terms for the month and where overall sentiment remains pessimistic. The OMX Baltic Benchmark index hardly budged during the month.
During the month, we sold shares of Yellow Cake, which reflects the price of uranium, and increased our position in the mining company Glencore in our pension funds. With a 17% increase in shares, Yellow Cake made the largest contribution to our performance in January, next to the American medical company Stryker, which was up by 14%. The biggest losers were our gold mining companies, which depreciated between 9% and 12%.
Despite turbulent times in the economy and geopolitics, we still see good opportunities in positions related to commodities. This is also supported by the wider undersupply in the sector.
New records in stock markets
Andres Viisemann, Head of LHV Pension Funds
The world’s largest stock markets have continued the upward trend that began last October, undergoing a new period of acceleration and reaching new peaks. In my opinion, however, the biggest event in the global stock markets was the powerful rise of the Nikkei 225 index, which tracks the Japanese stock markets.
LHV Pensionifond Aktiivne III
Recipient
AS Pensionikeskus
Account
EE547700771002908125 - LHV Pank AS
EE961700017004379157 - Luminor Bank AS
EE141010220263146225 - SEB Pank AS
EE362200221067235244 - Swedbank AS
Explanation
30101119828, EE3600010294, IK:Your ID Code
Amount
Amount invested in euros.
Disbursements
Pension agreement
The state does not tax payments from the 3rd pension pillar if you have concluded an insurance contract under which regular pension payments will be made to you for the rest of your life.
Resale of shares
After reaching the age of 55 (if you started making Pillar III contributions before 2021), but not before five years have elapsed from the initial investment, the income tax on disbursements is 10%. If you have joined the third pillar before 2021 and want to take out what you have collected before the age of 55, the income tax is 20%. Those who have joined the third pillar from 2021 can withdraw money from the third pillar at a more favorable income tax rate (10%) if there is less than 5 years until retirement age.
The third pillar savings can also be bequeathed
The heir can then decide what to do with the inherited assets—whether to transfer them to their pension account or to withdraw the amount in cash.
Income tax of 20% applies to cash withdrawals.