LHV Pensionifond XS

Active Management • Conservative Strategy
10%
-10%
10%
10 year net yield
2
1
7
Risk level
25.07%
0%
100%
Invests into Estonia
3137
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 31.08.2022

Biggest investments
Luminor 0.792% 03/12/249.44%
German Government 1.5% 04/09/228.48%
Riigi Kinnisvara 1.61% 09/06/276.39%
German Treasury Bill 21/09/20225.97%
BNP Paribas 2.875% 24/10/224.97%
ZKB Gold ETF4.53%
ALTUMG 1.3% 07/03/254.23%
Elering 0.875% 03/05/20234.00%
Bank Gospodarstwa Krajow 1.375% 01/06/253.80%
Banco Santander 1.375% 14/12/223.22%

Biggest investments in Estonia

Biggest investments in Estonia
Luminor 0.792% 03/12/249.44%
Riigi Kinnisvara 1.61% 09/06/276.39%
Elering 0.875% 03/05/20234.00%

Asset Classes

The data is presented as at 31.08.2022.

Information about the fund

Information about the fund
Volume of the fund (as of 31.08.2022)12,557,876.59 €
Management companyLHV 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: 0,5130%

Success fee: no commission

Ongoing charges (inc management fee): 0,53%

Ongoing charges are based on expenses for the last calendar year, ie 2021. Ongoing charges may vary from year to year.

August 2022: We brought Latvenergo’s depreciated bond back into to the fund

Romet Enok, Fund Manager

We acquired bonds from the Latvian state energy company Latvenergo to reintroduce to the fund. For many years the company had been one of the biggest investments in our portfolio (until we repaid the bond at the beginning of June). Since the price of the company’s other publicly traded bond had been falling significantly, we used the money from the repayment to bring Latvenergo back into our portfolio. With continued uncertainty in the financial markets, there is great value in being able to take advantage of opportunities as they present themselves.

July 2022: We acquired bonds from the real estate company Kojamo

Romet Enok, Fund Manager

We acquired and added bonds from the large Finnish real estate company, Kojamo, to the fund’s portfolio from the international stock market. Kojamo has a long standing history in the Finnish housing market, and develops and owns apartments in Helsinki and elsewhere in the country. Kojamo’s largest shareholders are Finnish pension funds and trade unions, Kojamo shares are traded on the Helsinki stock exchange.

We work actively to analyse local projects and find opportunities in international bond markets. Focusing on both the local and international markets and comparing them, gives us an advantage over those who only engage in one of the two.

June 2022: The government bond market is showing signs of stabilisation

Romet Enok, Fund Manager

In June, a considerable number of our bond investments reached maturity. We haven’t made many long-term investments in the past few years, and in the current environment of rising interest rates, this means an opportunity to invest at a new and higher level of interest.

Government bond markets are already showing signs of stabilisation after half a year of decline. The next strategic question revolves around what will happen to corporate solvency when economic growth clearly halts or even reverses. This may mean a further decline in the prices of corporate bonds, and we manage the fund’s investments with this risk in mind.

Investing in an inflationary environment
Andres Viisemann, Head of LHV Pension Funds

After a surprisingly substantial rise in July, the world’s largest stock markets were in decline again in August. The S&P 500 index, which tracks the value of the largest US companies, lost 2.9% of its value measured in euros last month, while the Japanese Nikkei index fell by 1.5%.