Over the first quarter of this year all three Aviva Lithuania pension funds have achieved positive results. The value of one investment unit in the Europension pension fund rose by 2.41%, exceeding even the comparative index value, which reached 2.18%.
Over the first quarter of this year all three Aviva Lithuania pension funds have achieved positive results. The value of one investment unit in the Europension pension fund rose by 2.41%, exceeding even the comparative index value, which reached 2.18%. The value of a Europension Plus unit grew by 0.93% (comparative index 1.08%). The value of a Europension Extra unit increased by 1.58%, far exceeding the comparative index, which for this fund registered a negative value of -0.16%. The comparative index is calculated for each fund according to its investment strategy and it makes it possible to assess the fund's financial results, and also the work performance of the fund's managers. It should be noted that not many funds manage to achieve, in the long term, a higher return than the comparative index.
"Over the first quarter of 2009 the storms in the financial market have not died down: the prices of shares and most bonds fell. We have managed to achieve good results in this period only by summoning all our experience, professionalism and flexibility: all the pension funds administered by us have provided a positive return to clients this year. It is pleasing that the coordinated and professional work of the Aviva Lithuania team has given appropriate results: this year our pension funds are achieving some of the best results in this country's market. We expect that we have developed enough positive momentum to keep advancing briskly forward, steadily increasing the value of our clients' future pensions," commented Asta Ungulaitienė, general manager of Aviva Lithuania.
Unfavourable and unpredictable government decisions are decreasing our chances of accumulating enough funds for the pensions. It was decided that this year the amount of funds to be transferred into people's personal accounts in the pension funds would be reduced from 5.5% to 3%, and it has been suggested that from 1 July 2009 the amount should be further reduced to just 2%.
Aviva Lithuania has invested 44 million litai into the life insurance and pension business in Lithuania. At the moment the company's services are provided by around 500 financial consultants. Aviva Lithuania is the third largest pension fund company in the country, controlling pension fund assets worth 330 million litai and having more than 150,000 pension fund clients.
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For further information please contact:
Vaidotas Aleksiūnas
Marketing and Community Relations Manager
Telephone: (8 5) 269 0620
Mobile: 8 682 222 01
E-mail: vaidotas_aleksiunas@aviva.lt
Indrė Minderienė
Senior Communications Specialist
Telephone: (8 5) 269 0610
E-mail: indre_minderiene@aviva.lt