On ABLV Asset Management, IPAS Fund Management Activity

Riga, Latvia, March 7, 2018, 11:53

Taking into consideration the restrictions imposed on ABLV Bank, AS, the sale and purchase of investment certificates of the funds managed by ABLV Asset Management, IPAS are currently suspended.

According to the Law on Investment Management Companies, the transactions with the property of funds of ABLV Asset Management, IPAS are carried out through the custodian bank, which used to be ABLV Bank, AS.

Currently, negotiations are taking place with several banks regarding the change of the custodian bank. As the agreement will be reached and a new contract signed, and the changes are registered with the Financial and Capital Market Commission, the assets of the mutual funds will be transferred to a new custodian bank. Once the decision is taken, ABLV Asset Management, IPAS operation, as well as possibility to buy and sell investment certificates of the funds for the investors will get back to the normal mode.

The decision about resuming sale and purchase of investment certificates shall be made by ABLV Asset Management, IPAS board. The investors will be immediately notified of such decision.