INDEXO becomes the third largest pension manager for the 2nd pillar in Latvia

INDEXO becomes the third largest pension manager for the 2nd pillar in Latvia
INDEXO Komanda

Pension management company IPAS Indexo (hereinafter – 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 Latvia’s retail financial services group – Luminor. 

On July 28th, the market value of the 2nd pillar pension assets managed by INDEXO was 773 million euros, while for Citadele it was 772 million euros.  

At the beginning of 2023, Citadele was still ahead of INDEXO by approximately 132 million euros, but dynamic growth in client acquisition and financial market growth in the past six months has allowed INDEXO to break into the top three of pension managers in Latvia, 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 11.86% on July 28th. According to INDEXO forecasts, the volume of the 2nd pillar pension assets managed in Latvia will reach 10 billion euros by 2027 and INDEXO plans to service about 20% of this market. 

“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 fund investment plans with low costs. We 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 of the company. 

As previously reported, in parallel to 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 continue to join the INDEXO bank’s project team.

Disclaimer: Bank (credit institution) license is subject to authorization granted by the European Central Bank based on the Bank of Latvia proposal.


Leave the first comment

Citi noderīgi raksti

Sign up for INDEXO
news and be the first
to know

Sign up

Choose which
product to join

2nd pension pillar

6% of your salary is already being saved in 2nd pension pillar. Invest it more effectively with INDEXO.

3rd pension pillar

Make contributions to 3rd pension pillar and save using automated investment system.

Choose the best
plan for your age


Best for 16-50
year olds!
Volatile, with high profit potential
Documents and conditions

INDEXO Izaugsme

Best for 47-57
years olds!
Moderately volatile, with moderately high profit potential
Documents and conditions

INDEXO Konservatīvais

Best for 55+!
Stability in the years before retirement
Documents and conditions

Forwarding to
is in progress


Authorize on the portal using one of the available methods.


Submit e-application for selection or change the investment plan of 2nd pension pillar


Choose an investment plan best for your age
Skip instructions - switch to
Skip instructions - switch to Latvija.lvSkip instructions - switch to Latvija.lvSkip instructions - switch to