LHV Pensionifond XS
Active Management • Conservative Strategy
10%
-10%
10%
10 year net yield
2
1
7
Risk level
18.75%
0%
100%
Invests into Estonia
3948
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 31.10.2021

Biggest investments
German Government 1.5% 04/09/229.64%
Luminor 0.792% 03/12/249.54%
France Government 2.25% 25/10/227.79%
Temasek 0.5% 01/03/226.11%
Riigi Kinnisvara 1.61% 09/06/275.63%
Bank of America 04/05/234.45%
BNP Paribas 2.875% 24/10/224.39%
ALTUMG 1.3% 07/03/253.99%
Bank Gospodarstwa Krajow 1.375% 01/06/253.68%
Elering 0.875% 03/05/20233.58%

Biggest investments in Estonia

Biggest investments in Estonia
Luminor 0.792% 03/12/249.54%
Riigi Kinnisvara 1.61% 09/06/275.63%
Elering 0.875% 03/05/20233.58%

Asset Classes

The data is presented as at 31.10.2021.

Information about the fund

Information about the fund
Volume of the fund (as of 31.10.2021)14,297,206.49 €
Management companyAS LHV Varahaldus
Equity in the fund50 000 units
Rate of the depository’s charge0,0576% (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.

October 2021: We increased our bond investments in Šiaulių bank

Romet Enok, Fund Manager

Lithuania’s Šiaulių bank declared its quarterly results to the stock exchange, showing continued growth in credit, deposit, and profits. In September, in a rare move, the company arranged a public bond issue in which LHV pension funds also participated. Our funds had already invested in Šiaulių’s subordinated bonds, which the bank sold to LHV funds in a direct transaction.

October was once again a weak month in European bond markets. Government bonds have suffered the most, with even average yields about 4% worse than at the beginning of the year. Long-term bonds have, of course, become cheaper. As we have stated in our monthly reports time and time again, we are currently altogether refraining from investing in long-term government bonds.

September 2021: We invested in Lithuanian bank bonds

Romet Enok, Fund Manager

In September, we subscribed for the bonds of the Lithuanian bank Šiaulių Bankas as a new investment. Although the bank’s loan portfolio is conservatively financed with local deposits, banking regulations also require issuing this type of bond. Šiaulių Bankas’ profitability is good, and its market share in Lithuania is growing. Bond investors’ certainty is supported by a unique situation in Europe, where the bank is directly supervised by the European Central Bank and, at the same time, largely owned by the European Bank for Reconstruction and Development (EBRD). Our pension funds already own subordinated bonds of Šiaulių Bankas, issued directly to LHV funds.

August 2021: Transpordi Varahaldus redeemed bonds

Romet Enok, Fund Manager

One of the fund’s direct investments ended in August when Transpordi Varahaldus redeemed its bonds before maturity. We had signed bond agreements in the spring of 2017 to finance the company’s aircraft fleet. In the meantime, the investment paid interest at a rate of 2.85% per annum, which was a better than the European bond market average over the same period.

Bond markets in Europe remained mainly negative in August, losing about half a per cent in price. In the listed bonds portfolio, we keep the risks low both in terms of interest rates and by avoiding low-rated corporate bonds.

What if inflation is not temporary?
Andres Viisemann, Head of LHV Pension Funds

October was a good month for stock markets, up 5.8% on the MSCI World Index. The S&P 500 index, which represents the shares of the largest US companies, rose by as much as 7.2%, reaching a new record level by the end of the month. The Stoxx 50 index, which tracks the shares of large European companies, rose by 5.1%. The value of emerging market companies also increased, but to a lesser extent: 1.2%.