The pension management company IPAS Indexo (hereinafter – INDEXO) has exceeded the 800 million euro mark in its assets under management (AUM) in both 2nd and 3rd pillar pension plans, the number of clients surpassed 118,000. This year the amount of pension savings entrusted to the company has grown by more than 250 million, and the number of clients has increased by nearly twenty thousand, meaning at the beginning of the year INDEXO had 549 million euros under management, and the number of clients was just under 100,000.
The results confirm the forecasts made at the beginning of the year about the company’s annual goals being close to fulfillment. The goals set were that INDEXO would reach a 900 million euro mark in AUM by the end of the year and increase the number of clients to 128,000.
“Thanks to the trust of the Latvian people, for several years we have been the fastest-growing pension management company both in Latvia and in the Baltic scale. Next year we aim to exceed the significant one billion mark in AUM. However, the most important thing is that these results reflect the value we can create for the people of Latvia with our low cost investment strategy, investing in global asset indices and delivering long term growth together with global economic development,” says Valdis Siksnis, INDEXO Board Chairman and one of the company’s founders.
As previously reported, in parallel to pension management, INDEXO continues to work actively to launch banking operations. Currently, the bank’s licensing documentation is being reviewed by the Bank of Latvia and the European Central Bank. Meanwhile, INDEXO continues work on the technical readiness of the new bank – the development of an innovative and convenient mobile application and customer-friendly services, and new talented specialists continue to join the INDEXO bank project team.
Disclaimer: Bank (credit institution) license is subject to authorization granted by the European Central Bank based on the Bank of Latvia proposal.
