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 | 6.88% |
German Treasury Bill 16/10/2024 | 6.48% |
France Treasury Bill 30/10/2024 | 4.85% |
ZKB Gold ETF | 3.98% |
AMUNDI EURO STOXX BANKS UCITS ETF | 3.49% |
German Treasury Bill 1% 15/08/2024 | 3.29% |
iShares Gold Producers UCITS ETF | 3.29% |
EfTEN Real Estate Fund | 2.89% |
Luminor 7.25% 16/01/2026 | 2.73% |
BNP Paribas 2.5% 31/03/2032 | 2.50% |
Biggest investments in Estonia
Biggest investments in Estonia | |
---|---|
Luminor 7.25% 16/01/2026 | 2.73% |
East Capital Baltic Property Fund III | 2.07% |
BIGBANK 7.5% 16/05/2032 | 1.97% |
Asset Classes
Information about the fund
Information about the fund | |
---|---|
Volume of the fund (as of 31.05.2024) | 30,476064.20 € |
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
May 2024: We Invested in Agricultural Enterprises
Kristo Oidermaa and Romet Enok, Fund Managers
Contrary to the saying, “Sell in May and go away!”, May was a good month for developed markets. The US S&P 500 index rose by 4.8% in dollars, and the European Euro Stoxx 50 rose by 2.1% in euros. Emerging markets ended the month unchanged overall.
China experienced growth of 2.1% measured in dollars – a positive change from the poor mood that has surrounded the country for almost a year. Among emerging markets, Indonesia and Brazil had the most negative returns in May, falling 7.4% and 5.9% in dollars, respectively. The OMX Baltic Benchmark index fell by approximately 0.6% in euros during the month.
During May, we bought positions in the agricultural companies Mosaic and Nutrien, betting on the rising prices of agricultural products. Of our equity positions, the European banking index and the gold mining company Agnico Eagle Mines gained the most in May, rising between 5% and 7%. The weakest results came from our energy-related positions, which fell by 2% to 7%.
We still see good opportunities in the commodities sector due to the structural undersupply and sustained demand prevailing in the sector.
April 2024: Baltic Horizon Fund continued to redeem bonds
Kristo Oidermaa and Romet Enok, Fund Managers
April was a negative month for developed markets. The US S&P 500 index fell by 4.2% in dollars and the European Euro Stoxx 50 fell by 2.4% in euros. One of the few developed economies to remain in the positive was the UK, growing by 2.4% in British pounds.
Overall, emerging markets remained flat, with the MSCI EM index up 0.3% in dollars during the month. Latin American stock markets were on a downturn, while China, where a very negative mood has prevailed for almost a year, rose by 6.5% in dollars over the month. The OMX Baltic Benchmark index gained approximately 1.4% in euros during the month.
During the month, we sold our positions in the Finnish forestry company UPM-Kymmene in all portfolios. Among the equity positions, the best performers in April were precious and energy metals, which gained between 5% and 8%, as well as European banks, which gained around 3.7%. The fund’s energy positions fell the most during the month, falling by 6% to 11%. We see good future opportunities in the commodity sector, where there is still structural undersupply.
Baltic Horizon Fund redeemed another portion of its bonds as planned. The company has already redeemed almost a third of the 42 million euros worth of securities issued last May. The next and currently last early redemption payment is scheduled for July at the latest. After that, the original bond issue of 42 million euros will decrease to 22 million euros. The interest on the bond is Euribor + 8% plus early redemption fees.
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.
![](/assets/images//pension/viisemann-turuylevaade.png)
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%.
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.