LHV Pensionifond XS
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
Loss-avoiding XS
- At least 80% of the XS fund assets are invested in investment-grade bonds, money market instruments traded on a regulated market, deposits, units or shares of other investment funds investing mainly in the above assets, and other assets.
- The money accumulated for pensions in the S fund remains stable. In investing, we follow the rating restrictions imposed by legislation governing conservative pension funds.
- The fund’s preferred long-term asset class is low-risk debt instruments.
![](/assets/images/pension/campaign/tsitaat-enok.png)
Romet Enok
Fund Manager at LHV
„Bond price movements are starting to calm down with the expectation that inflation risk has been brought under control. In such an environment, bonds are once again offering returns.“
Biggest investments
The data is presented as at 31.05.2024
Biggest investments | |
---|---|
Luminor 7.75% 08/06/2027 | 7.87% |
Riigi Kinnisvara 1.61% 09/06/27 | 6.97% |
ZKB Gold ETF | 6.13% |
France Treasury Bill 30/10/2024 | 5.97% |
ALTUMG 1.3% 07/03/25 | 4.62% |
German Treasury Bill 1% 15/08/2024 | 4.34% |
German Treasury Bill 19/06/24 | 4.32% |
Bank Gospodarstwa Krajow 1.375% 01/06/25 | 4.27% |
Kojamo 0.875% 28/05/2029 | 3.53% |
Glencore 1.25% 01/03/2033 | 3.39% |
Biggest investments in Estonia
Biggest investments in Estonia | |
---|---|
Luminor 7.75% 08/06/2027 | 7.87% |
Riigi Kinnisvara 1.61% 09/06/27 | 6.97% |
Coop Pank 5.0% 10/03/2032 | 2.80% |
Asset Classes
Information about the fund
Information about the fund | |
---|---|
Volume of the fund (as of 31.05.2024) | 11,552,974.45 € |
Management company | LHV Varahaldus |
Equity in the fund | 40,000 units |
Rate of the depository’s charge | 0.0439% (paid by LHV) |
Depository | AS SEB Pank |
Entry fee: 0%
Exit fee: 0%
Management fee: 0,5040%
Success fee: no commission
Ongoing charges (inc management fee): 0.57%
Ongoing charges are based on expenses for the last calendar year, ie 2023. Ongoing charges may vary from year to year.
Terms and Conditions
Prospectus
May 2024: Security Markets are Sending Mixed Signals
Romet Enok, Fund Manager
Interest rates continue to move in opposite directions in the euro area. While the 6-month Euribor and other very short-term interest rates are declining in line with the policy of the European Central Bank, long-term interest rates (for example, on ten-year government bonds) are, to some extent, rising.
Textbook wisdom says that this is how investors respond to the risk of the central bank becoming impatient and cutting interest rates too soon, which could cause both inflation and the Euribor to rise again in the future.
Even more striking than the current rise in government bond interest rates is the rise in corporate bond prices, which should happen when the economy is very strong. A strong economy, however, would require the central bank to raise interest rates rather than lower them. Conversely, when the economy is weak, the prices of corporate securities should fall.
In this confusing situation of conflicting signals and high price levels, it is rational not to take on any risk. This is why there were no changes to the composition of our portfolio last month and no significant news concerning it.
April 2024: Gold continued its extraordinary rise
Romet Enok, Fund Manager
The extraordinary appreciation of gold continued in April as the price of gold increased by over 6% in euros, yielding nearly 15% since the beginning of the year. As another significant event, the Baltic Horizon Fund made a new redemption payment. On schedule, company has redeemed almost a third of the bond issue of last May, and the next payment should be made in July at the latest. Until then, the bond returns Euribor + 8% to the fund every year.
March 2024: Gold made a noticeable contribution to the fund’s performance
Romet Enok, Fund Manager
March was a very strong month on the gold market, where the price of this precious metal rose by more than 8% in euros. We acquired gold for the fund in January 2022. A little more than two years later, the price of gold has risen by 20%, significantly contributing to the fund’s performance.
Although the main asset class of the fund is high-rated euro bonds, we are constantly looking for attractive opportunities elsewhere, including in the first quarter of this year. At a time when the European bond market as a whole remained in the red, the fund benefitted from investments such as gold and the rising bonds of both Luminor Bank and the Finnish residential real estate company Kojamo.
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Expectations soar as interest rates are cut
Andres Viisemann, Head of LHV Pension Funds
Both European and US stock markets saw solid gains in May, recouping losses from the previous month. The Euro Stoxx 50 index, which tracks Europe’s 50 largest companies, rose by 2.1% in May, while the S&P 500 index, which follows the value of the top 500 US companies, increased by 4.8%.