OREANDA-NEWS. The INVL Asset Management companies in Lithuania and Lithuania on 19 January this year combined the two investment funds Finasta Obligāciju Fonds and Finasta Sabalansētais Fonds, which were managed in Latvia, into the Finasta Emerging Europe Bond Subfund, which is managed in Lithuania.

The companies, which are part of the asset management group Invalda INVL, made the decision to merge the funds seeking to optimize investment fund management. The merger of the funds was approved by the Latvian and Lithuanian supervisory institutions on 2 December 2015.

Following the fund merger:

  • the Finasta Obligāciju Fonds (ISIN LV0000400257) has been terminated;
  • the Finasta Sabalansētais Fonds (ISIN LV0000400265) has been terminated;
  • the Finasta Emerging Europe Bond Subfund continues to operate successfully with a larger number of participants and more assets.

All clients who on 18 January 2016 held investment units of the Finasta Obligāciju Fonds, on the day of completion of the merger acquired units of the Finasta Emerging Europe Bond Subfund: their Finasta Obligāciju Fonds units were converted free of charge into Finasta Emerging Europe Bond Subfund investment units at the ratio of 0,29743133.

All clients who on 18 January 2016 held investment units of the Finasta Sabalansētais Fonds, on the day of completion of the merger acquired units of the Finasta Emerging Europe Bond Subfund: their Finasta Sabalansētais Fonds units were converted free of charge into Finasta Emerging Europe Bond Subfund investment units at the ratio of 0,30653823.

After the merger, the participants of the Finasta Obligāciju Fonds and the Finasta Sabalansētais Fonds became participants of the Finasta Emerging Europe Bond Subfund, which is registered in Lithuania and distributed on an international scale, and invest according to its rules. The funds Finasta Obligāciju Fonds and Finasta Sabalansētais Fonds ceased operating after the merger.