Remuneration Policy and Its Application

Personnel and remuneration policy of ABLV Asset Management, IPAS (hereinafter – the Company) is provided in the Personnel Policy.

Remuneration policy consists of the remuneration system that enables the Company to attract and motivate employees of a suitable qualification, at the same time avoiding assumption of excessive risks, while evaluating the long-term impact of the transactions carried out by them. It is designed to avoid undertaking risks unsuitable for the mutual funds and pension plans under the management of the Company, as well as their prospects and operation terms, as well as to not limit the ability of the Company to ensure stable financial condition and solvency, complies with the Company’s investment strategy, as well as conservative and efficient risk management.

Remuneration policy and regulatory enactments related to it are developed and approved by the Company. Their implementation is ensured by the Chairman of the Board of the Company under the supervision of the Council of the Company.

The remuneration policy provides only the fixed part of the remuneration.

There are the following positions in the Company affecting its risk profile: members of the Board and the Council, Risk Analyst, Transaction Supervision Specialist, Compliance Specialist, Lawyer, Head of Investment Management Department, Investment Analyst, Portfolio Manager and Senior Financial Market Analyst. The amount of remuneration in the Board of the Company, as well as in positions having a level of remuneration equal to or higher than the lowest level remuneration in the group of members of the Board of the Company is set by the Council of the Company. The remuneration of the members of the Council is approved by the meeting of shareholders.

Information published on 31 March 2020.