Parex Open Pension Fund (Latvia)

Parex participates both in the 2nd and 3rd tier pension systems offering a number of state-funded and private pension plans, thus ensuring its clients secure and prosperous old age. The opportunities that are provided by Parex pension plans are available to any private or corporate client.

Parex Open Pension Fund (POPF) is a licensed third tier pension fund registered in Latvia. POPF is under the supervision of the Financial and Capital Market Commission of the Republic of Latvia.
Parex pension plans are managed by Parex Asset Management and are leading the industry by performance, insuring maximal returns for their participants.

Parex's third tier pension plans have demonstrated strong growth since their inception: average annual performance of Balanced and Active pension plans (currency of liabilities is LVL) has been 7.20% and 7.08% respectively, but the Supplementary Pension – Active USD pension plan’saverage annual return reaching 7.57%, as at 30 April 2008. At the end of 2007 was licensed the fourth pension plan – the Supplementary Pension – Active Euro. The market share of Parex’s second tier pension plans in terms of participants is 20.6%; Parex is the third largest second tier pension plan manager in Latvia, as at 30 April 2008. In comparison with the end of 2006, assets of the third tier pension plan increased by 48.4% reaching LVL 14.7 million as at 30 April 2008. This increase ensured Parex Open Pension Fund 30.7% market share of the open pension fund market. The number of participants in third tier pension plans has reached 45.7 thousand.

Maintaining conservative profile, Parex pension plans aim to exceed CPI level in Latvia thus providing positive real return to it’s participants in long-term. Pension plan funds are primarily invested in highly liquid assets, including government and corporate bonds, equities, real estate and bank deposits.

Parex Open Pension Fund is offering four licensed pension plans with different investment strategies:

Supplementary Pension – Balanced (LVL is the currency of liabilities)	Up to 30% of the plan’s assets may be invested in equities
Supplementary Pension – Active (LVL is the currency of liabilities)	Up to 50% of the plan’s assets may be invested in equities
Supplementary Pension – Active USD (USD is the currency of liabilities)
Supplementary Pension – Active Eiro (EUR is the currency of liabilities)*

Pension Fund Assets

Participants of the Pension Plans

Monthly returns of Parex pension plans “Supplementary Pension – Active” and “Supplementary Pension – Balanced” vs. inflation rates

302 legal entities have entrusted their employees’ private capital to POPF (as at 30 April 2008), which is the best result in the sector.

 Major benefits of participation in the POPF third tier pension plans

Contact us:

Parex Open Pension Fund
20/22, K. Barona str.,
Riga LV-1050
Phone: +371 6 706 4717
Fax: +371 6 706 4669
e-mail: pfonds@parex.lv