Citadele Bank

CBL Asset Management repeatedly receives Thomson Reuters Lipper Fund Award

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Lipper, a global investment fund research company,  has recognized Latvia registered  investment fund CBL Eastern European Bond Fund - USD as the best fund in 2016 in terms of return and risk within the Emerging Europe Bond category over three and five-year periods. The Fund, managed by CBL Asset Management,  invests in Eastern European government and corporate debt securities and returned 5.2%  and 20.4% over three and five-year periods, respectively.

This is not the first Lipper award received by the funds managed by CBL Asset Management. CBL Eastern European Bond Fund received the same Lipper award in 2012 as the best in its category over the three-year period. In 2013, CBL Russian Equity Fund was recognized as the best fund within Russian equity category over three years.

"We are pleased with another recognition that our managed funds are amongst highest rated internationally," says CBL Asset Management Chairman of the Board Uldis Upenieks. "Receiving this Lipper Award confirms that CBL Asset Management is indeed a regional leader,  whose investment services meet the highest global quality standards. The success is based on our fund management team's long-term experience combined with systematic analysis and balanced risk management. Eastern European bond market, although with some specific risks, in our opinion, offers attractive profit opportunities despite various global and regional challenges," believes Uldis Upenieks.

Lipper, a Thomson Reuters company, is one of the leading global providers of fund information, research and ratings. Lipper Fund Award is recognized around the world as a mark of excellence by both fund managers and professional fund investors. Lipper evaluation methodology places particular emphasis on sustainable performance and risk, thus highlighting funds that combine strong performance and rigorous risk management.  In choosing the winner, all the funds within European developing countries bond category that have at least three years of performance history, are registered for distribution in at least three European countries and are established according to the EU UCITS Directive, which is the common regulation in the European Union for open-ended investment funds, were evaluated.

About CBL Asset Management

CBL Asset Management is a wholly owned subsidiary of Citadele Bank AS. CBL Asset Management provides the following services: state-funded pension plan management, proprietary investment fund management and portfolio management for private, corporate and institutional clients, both local and international.

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