Hansabankas has registered a new pension fund, Pensija 4
2005-11-25 Back
Lithuanian Securities Commission has registered a new Hansabankas-managed pension fund, called Pensija 4. It focuses on investing in shares given that 70 percent of funds will be allocated for investments into shares and the remaining portion - into debt securities. Until recently, Hansabankas owned three pension funds: a conservative fund called Pensija 1 (which invests 100 percent of its finds into debt securities), Pensija 2 (which invests 20% of its funds into shares and the remaining portion into debt securities) and Pensija 3 (investing 40% into shares and 60% into debt securities).
In 2004, more than a half of Hansa Pensija customers had chosen a conservative fund, Pensija 2, whereas Pensija 3 had been chosen by 38% of the customers. However, in the first half-year of 2005 alone, more that 43.1% had chosen the most risky fund, Pensija 3.
"We see, right now, that that our customers are ready to choose such pension funds that are focused on investing into shares, and it explains why Pensija 3 has been increasingly becoming popular. As to Pensija 4, we would recommend it for young people whose retirement is far away. When one starts accumulating funds for retirement age, it is important to start with a pension fund that focuses on investment into shares but, with time, one may switch to a more conservative fund. The birth of Pensija 4 broadens a spectrum for customer choices,"- says Aurimas Madzierius, Director of Hansabankas' subsidiary, Hansa Investiciju Valdymas.
Pensija 4 can be chosen via Internet banking facility, hanza.net or over-the-counter upon visiting a branch office starting from 1 January 2006. In addition, hanza.net may be helpful to view the transferred and accumulated funds for retirement pensions. Statements on funds investments are available at www.hansa.lt.
Pensija 3 yearly rate of return (covering the period from 31 October 2004 to 31 October 2005) stood at 11.83%, whereas Pensija 2 and Pensija 1 achieved 6.98% and 3.34%* respectively.
Hansabankas is a domestic leader in terms of total number of retirement pension agreements drawn up with a bank and holds a 43.8% market share thereof (more than 685 thousand pension agreements had been signed in Lithuania in total as at 31 October 2005). In ten months' time this year alone, Hansabankas sold over 56 thousand pension agreements.
