Citadele Bank

Citadele’s New “Citadele Global Emerging Markets Bond Fund” is Floated on Exchange

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The NASDAQ OMX Rīga securities exchange begins to sell certificates related to the “Citadele Global Emerging Markets Bond Fund” as part of its list of investment funds.

The open investment fund is aimed at ensuring long-term capital growth by making investments in the debt securities emitted by emerging countries’ governments, local governments and companies. The fund will actively invest money in various countries, sectors and currencies with the aim of ensuring greater protection against shifts in the value of various assets. The fund is managed by IPAS “Citadele Asset Management”, and the fund was registered with the Finance and Capital Markets Commission (FKTK) on May 23 of this year.

“The floating of the new fund on the exchange will make it far more available to a much broader range of investors, offering them diverse opportunities that are offered by fixed profit markets in the world’s developing countries,” says Citadele Asset Management board member Zigurds Vaikulis. “Developing countries are experiencing comparatively rapid growth, they have attractive quality in relation to those who emit securities, and the relationship between profitability in relation to securities and extensive diversification of opportunities is very good. The fund will be an outstanding supplement to the open funds offered by Citadele Asset Management, also strengthening our leading positions among managers of investment funds in Latvia.”

The NASDAQ OMX Rīga exchange already lists twelve open investment funds managed by IPAS Citadele Asset Management, with total assets amounting to EUR 49 million. The new Citadele Global Emerging Markets Bond Fund is now the 13th investment fund listed by the company on the exchange.

About Citadele Asset Management

Citadele Asset Management is a subsidiary of the Citadele Bank and one of the leading investment management companies in the Baltic States. Citadele Asset Management offers asset management services for local and international clients – individuals, corporate clients, investment funds, second and third-level pension plans, and insurance companies. Investment funds have been registered for public distribution in the Baltic States, Sweden, Switzerland and Germany.

About Citadele Bank

Citadele is a local Latvian bank that offers banking, financial and asset management services. Citadele group is represented in the Latvian market as well as in 9 other countries. Citadele Bank is the only collaboration partner of American Express in Latvia and Lithuania who is entitled to issue American Express credit cards. In 2012 the bank was recognized as the best-governed state-owned enterprise in the Baltic States according to a study conducted by the Baltic Institute of Corporate Governance. Citadele’s vision is to become the most valuable local financial group in the Baltic States. 75% minus one Citadele Bank’s shares are possessed by the State Joint Stock Company Privatization agency on behalf of the Latvian State and the owner of 25% plus one share is the European Bank for Reconstruction and Development (EBRD).

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