The internationally renowned fund research company Lipper has presented the Citadele Eastern European Bond Fund-USD with the Lipper Fund Award 2012 for the best consistent, risk-adjusted performance over three years in the Emerging Europe Bond Fund category. The fund’s investors were able to enjoy a net return of 97.6% during this period.
“The Citadele Eastern European Bond Fund invests in debt securities of governments and companies in Eastern Europe, including the CIS countries,” explains Vladimirs Ivanovs, chairman of the board of Citadele Asset Management. “The fund’s team combines years of experience in local markets with systematic analysis and a careful consideration of risks. This has allowed us to successfully identify and exploit the profit opportunities opened up by the region’s recovery from the 2008 financial crisis.”
A subsidiary of Thomson Reuters, Lipper is one of the leading international providers of mutual fund research, rankings, and data. The Lipper Fund Awards are a mark of excellence in the investment management industry and as such are widely recognized by professional investors and sought-after by fund managers. Andris Kotāns, the manager of the Citadele Eastern European Bond Fund, received the award at a ceremony in Luxembourg on March 27, 2012.
“We are very proud of this high degree of recognition at the international level,” says Ivanovs. “This award reaffirms the status of Citadele Asset Management as a regional industry leader and as a provider of world-class investment management services.”
The Lipper methodology emphasizes consistency of risk-adjusted performance, highlighting strong returns in conjunction with careful risk management. The fund was evaluated against all UCITS funds in the Emerging Europe Bond category that have been registered for public distribution in at least three European countries and that have at least three years of performance history.
A subsidiary of Citadele Bank, IPAS Citadele Asset Management is one of the leading investment management companies in the Baltic States. Citadele Asset Management offers investment management services to both local and international clients: private individuals, corporations, investment funds, insurance firms, and 2nd and 3rd level pension plans. Subsidiaries of Citadele Asset Management offer investment management services to clients in Lithuania and the Ukraine. The company has a representative office in Kazakhstan, and its investment funds are registered for public distribution in the Baltic States, Sweden, Switzerland, and Germany.
Citadele is local bank in Latvia that offers banking, financial and asset management services. Citadele Group is represented in the local Latvian market and 10 other countries. It is the only collaboration partner of American Express® in Latvia and Lithuania who is entitled to issue American Express credit cards. Citadele Bank’s vision is to become the most valuable local financial group in the Baltic States. Presently, 75% of its shares are owned by Privatization Agency and the European Bank for Reconstruction and Development possesses 25% plus one of its shares.
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