{"id":16397,"date":"2023-08-03T11:00:16","date_gmt":"2023-08-03T08:00:16","guid":{"rendered":"http:\/\/wpml.indexo.lv\/?p=16397"},"modified":"2024-06-05T12:45:35","modified_gmt":"2024-06-05T09:45:35","slug":"indexo-becomes-the-third-largest-pension-manager-for-the-2nd-pillar-in-latvia","status":"publish","type":"zinas","link":"https:\/\/indexo.lv\/en\/zinas\/indexo-becomes-the-third-largest-pension-manager-for-the-2nd-pillar-in-latvia\/","title":{"rendered":"INDEXO becomes the third largest pension manager for the 2nd pillar in Latvia"},"content":{"rendered":"\n

Pension manage<\/span><\/b>ment company<\/span><\/b> IPAS Indexo (hereinafter \u2013 INDEXO) <\/span><\/b>this July<\/span><\/b> has passed Citadele group <\/span><\/b>by the value of the<\/span><\/b> assets under management in the<\/span><\/b> 2nd p<\/span><\/b>ension p<\/span><\/b>illar<\/span><\/b>, <\/span><\/b>thus becoming the third largest <\/span><\/b>2nd pillar pension <\/span><\/b>manager in Latvia by the <\/span><\/b>value<\/span><\/b> of assets<\/span><\/b> under <\/span><\/b>manage<\/span><\/b>ment<\/span><\/b>. In January of this year, INDEXO had already <\/span><\/b>passed<\/span><\/b> another Latvia’s <\/span><\/b>retail<\/span><\/b> financial services group<\/span><\/b> \u2013 Lumino<\/span><\/b>r.<\/span><\/b> <\/span><\/p>\n\n\n\n

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On <\/span>July<\/span> 28th<\/span>, the market value of the 2nd pillar pension assets managed by INDEXO was <\/span>773 <\/span>million euros, while for Citadele<\/span> it was <\/span>772<\/span> million euros.<\/span> <\/span> <\/span><\/p>\n\n\n\n

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At the beginning of 2023, Citadele was still ahead of INDEXO by approximately 132 million euros, but <\/span>dynamic growth in client acquisition<\/span> and financial market growth in the past six months has allowed INDEXO to break into the top three <\/span>of <\/span>pension managers in Latvia<\/span>,<\/span> alongside SEB and Swedbank. The market share of the 2nd pillar pension funds managed by INDEXO has increased from 10.14% at the beginning of this year to 1<\/span>1<\/span>.8<\/span>6<\/span>% on July 28th.<\/span> According to INDEXO forecasts, the volume of <\/span>the <\/span>2nd pillar pension assets managed in Latvia will reach 10 billion euros by 2027 and INDEXO plans to service about 20% of this market.<\/span> <\/span><\/p>\n\n\n\n

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“INDEXO results prove that an innovative and transparent offer can challenge and change the financial sector in Latvia. INDEXO is growing rapidly because people trust our strategy and transparency. We were the first in Latvia to introduce index <\/span>fund <\/span>investment plans with low costs<\/span>. W<\/span>e see that this approach provides the best long-term results for Latvian pension savers. We will continue working to improve the financial environment in Latvia, as there is still a lack of complete transparency in the pension sector, for example, people should also be provided with full information on the indirect costs of pension savings management,” says Valdis Siksnis, INDEXO Board Chairman and one of the founders<\/span> of the company.<\/span> <\/span><\/p>\n\n\n\n

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As previously reported,<\/span><\/b> in parallel <\/span>to<\/span> pension management, INDEXO continues its active work on a new commercial bank establishment project. Currently, the bank’s licensing documentation is being reviewed by the Bank of Latvia and the European Central Bank. Alongside, 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<\/span> continue to join<\/span> the INDEXO bank\u2019<\/span>s<\/span> project team<\/span>.<\/span><\/p>\n\n\n\n

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Disclaimer: Bank (credit institution) license is subject to authorization granted by the European Central Bank based on the Bank of Latvia proposal.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Pension management company IPAS Indexo (hereinafter \u2013 INDEXO) this July has passed Citadele group by the value of the assets under management in the 2nd pension pillar, thus becoming the third largest 2nd pillar pension manager in Latvia by the value of assets under management. In January of this year, INDEXO had already passed another […]<\/p>\n","protected":false},"author":16,"featured_media":16366,"comment_status":"open","ping_status":"open","template":"","class_list":["post-16397","zinas","type-zinas","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/indexo.lv\/en\/wp-json\/wp\/v2\/zinas\/16397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indexo.lv\/en\/wp-json\/wp\/v2\/zinas"}],"about":[{"href":"https:\/\/indexo.lv\/en\/wp-json\/wp\/v2\/types\/zinas"}],"author":[{"embeddable":true,"href":"https:\/\/indexo.lv\/en\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/indexo.lv\/en\/wp-json\/wp\/v2\/comments?post=16397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indexo.lv\/en\/wp-json\/wp\/v2\/media\/16366"}],"wp:attachment":[{"href":"https:\/\/indexo.lv\/en\/wp-json\/wp\/v2\/media?parent=16397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}