OREANDA-NEWS. September 17, 2014. The new manager of ERGO pension funds in Estonia is Nordea Pensions Estonia AS. The transfer of pension funds brought Nordea pension funds 27 thousand new investors and increased the volume of assets by 65 million euros.

“We are pleased to welcome all new customers and we are certain that we can guarantee them premium pension assets` management service based on the best Nordic practice,“ said Nordea Pensions Estonia Manager Angelika Tagel.

The pension funds` switch period, enforced on September 1, was also successful for all Nordea managed pension funds. The volume of Nordea pension funds` assets grew by 3.74 million euros and the number of customers by more than 1700 people. As at September 1, the volume of Nordea pension funds in total exceeded 179 mln euros, and in comparison to the same period last year, the number of customers has close to doubled.

“The transfer of pension funds has been a smooth process. We trust our clientele in safe hands considering that Nordea pension funds have shown good stable yield,“ commented the Head of ERGO Funds AS, Alo Alunurm.

Nordea Pensions Estonia Chairman of the Board, Angelika Tagel, added that the number of switches this time around definitely reflects Nordea pension funds` good results so far: “In 2013, Nordea pension funds were the best on the market in several categories and also this year, Nordea pension funds have shown excellent results.“

On October 1, 2014, Nordea will merge the former ERGO funds with Nordea pension fund for better synergy. The value of customers` pension assets will not alter as the fund manager changes and funds are merged; furthermore, the transactions will not involve additional costs for customers.

Nordea pension funds` manager Nordea Pensions Estonia AS started operations in 2008.

Nordea is a leading Nordic financial corporation operating in Estonia as a bank, leasing company and pension funds` manager. Nordea bank was declared the best bank in Estonia in 2013 by the leading global banking and finance magazine The Banker, and this year,  the international economy magazine Euromoney declared Nordea the best bank in Nordic and Baltic countries. For the second year in a row, Nordea also received the best Nordic and Baltic investment bank title.