INVL Asset Management is to merge the harmonised investment fund INVL Umbrella Fund’s INVL Global Flexible Subfund into the open-ended harmonised investment fund INVL Baltic Fund.
Completion of the merger of the funds is planned on 1 June 2016.
The merger of the funds was approved on 11 April by the Bank of Lithuania. INVL Asset Management made the decision to merge the funds in order to focus its activities in those investment regions where it sees the most potential for financial market growth and where the company’s managers have accumulated the most competence and experience, and thus to ensure participants are able to get the maximum possible investment return.
Following the merger, the participants of the INVL Global Flexible Subfund will become participants of the INVL Baltic Fund, and the INVL Global Flexible Subfund will cease operations.
Participants of the INVL Baltic Fund will not experience any significant impact or restriction of rights due to the planned merger. Their investments will continue to accumulate on the same terms, with no change to the investment fund rules, investing risk, policy on applicable deductions or issuing of periodic account statements.
The INVL Baltic Fund currently has EUR1.94 million of assets under management, while the assets of the INVL Global Flexible Subfund are EUR0.4 million.