OREANDA-NEWS. January 25, 2013. Last year was especially successful for open-end mutual funds managed by ABLV Asset Management, IPAS, and at the beginning of January this year total value of their assets exceeded EUR 50 million, reported the press-centre of ABLV.

Currently, our customers are offered 6 mutual funds, 4 of which are bond funds and 2 – stock funds. The newest one is ABLV High Yield CIS RUB Bond Fund, which is available to customers since 17 January 2012.

During the year, our mutual funds have grown by approximately 50%, i.e., more than EUR 17 million. Among other factors, the growth was also due to increasing number of customers, since more and more of them wish to diversify their investment portfolios by acquiring shares of ABLV mutual funds.

Evaluating the performance over the year, ABLV Asset Management, IPAS, Chairman of the Board Leonids Kils noted that the year was rather successful for investors.

“In 2012, especially distinguished was the market of government and corporate bonds of emerging countries, which demonstrated the yield twice exceeding the forecasts. This was mainly due to significant increase in interest to this category of assets demonstrated by large institutional investors, given reassessment of risks in global bond market. In our opinion, this trend will be preserved in the next year, which should stimulate further decline of yield and consequent increase in prices. In turn, this should ensure good income for investors,” Leonids Kils concluded.

Up-to-date information about performance of ABLV open-end mutual funds can be found at our home page www.ablv.com, as well as at the Baltic Stock Exchange NASDAQ OMX.

ABLV Bank is the largest independent private bank in Latvia. The bank’s majority shareholders — Olegs Fils, Ernests Bernis and Nika Berne – directly and indirectly hold 86% of the bank's share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.