OREANDA-NEWS. Lithuanian Securities Commission confirmed its acceptance of the amendments to the terms of Parex Baltic Sea Equity Fund, which allows the change of the Fund’s base currency from Lithuanian Litas to Euro, reported the press-centre of Parex.

As of July 26, the distribution of the certificates, as well as settlements and price publications, will be carried out in Euros.

Parex Baltic Sea Equity Fund is registered in Lithuania and is currently the third largest investment fund in the country. The manager of the fund is Parex investiciju valdymas (Lietuva), a Lithuanian subsidiary of Parex Asset Management (Latvia). The Fund’s certificates are listed on Riga and Vilnius Stock Exchanges.

Mr. Rolandas Sungaila, Executive Director, Parex investiciju valdymas comments: “The change in the base currency will increase the attractiveness of Parex Baltic Sea Equity Fund to international investors, and we believe it will positively influence the growth of the fund’s assets.”

Since inception of the fund on July 8, 2004 the investors’ yield has reached 100,72%, or 27,73% per annum.

The fund invests in the equities of enterprises active in the Baltic countries, including Latvia, Lithuania, Estonia, Denmark, Finland, Iceland, Sweden, Germany, Poland and Russia. The investment portfolio of the fund is balanced by investments into various countries and currencies, which provides additional stability and protection from unexpected volatility of costs of the portfolio, which are likely for investments in securities of only one given country or currency.

About the Bank:

With EUR 3,9 billion in assets, Parex banka is one of the leading banks in the Baltic States, offering integrated client services, including lending, payment card services, leasing, asset management and securities brokerage. The Bank is represented in 15 countries through its wide network of representative offices, branches and subsidiaries, including a subsidiary in Switzerland, AP Anlage und Privatbank AG.

Parex banka is rated Baa3 by Moody's Investors Service, BB+ by Fitch Ratings and BBB by Capital Intelligence.

About Parex Asset Management:

With over EUR 1 billion of assets under management, Parex Asset Management, the subsidiary of Parex banka, is the largest investment company in the Baltic Region and one of the most experienced in the Central and Eastern Europe. PAM invests internationally, maintaining a complete investment product range, when constantly tracking the best investment opportunities in each geographic region. Through its subsidiaries and representation offices Parex Asset Management also operates in Lithuania, Russia, Ukraine and Kazakhstan.