The leading asset management company in Lithuania, INVL Asset Management, has closed its first managed fund investing in forests, INVL Baltic Forests Fund I, which brought investors an average annual return of 27.3%.
On June 6, the Board of Directors of the Bank of Lithuania approved changes to the rules of the closed-ended investment fund for informed investors INVL Alternative Assets Umbrella Fund managed by INVL Asset Management and the closure of INVL Baltic Forests Fund I.
The INVL Baltic Forests Fund I was closed after the sale of shares in forest management companies and the redemption of the remaining fund shares. The fund had attracted 97 investors and paid out €24.87 million to investors over its history, earning them an average annual return of 27.3%, well above the 8% average annual return that the fund was targeting.” , says Sigita Bizulienė, manager of INVL Baltic Forests Fund I.
Established in 2017, INVL Baltic Forests Fund I had invested in Lithuania’s forests with a focus on sustainable forest management in our country. In total, the fund managed more than 5,600 hectares of forest. The first sale of the fund’s portfolio took place at the end of 2019, when around 4,290 hectares of forest were sold. In December 2021, the fund sold around 1,340 ha of its holdings.
“The performance of the first fund investing in forests was really impressive. We are currently working intensively with the second fund and see a lot of growth potential,” says Martynas Samulionis, Managing Partner of INVL Sustainable Timberland and Farmland Fund II (PERSONAL II).
Forest investment activity continues with STAFF II, which was established more than a year ago and has raised 58.4 million euros from investors so far.
STAFF II has already invested in the Baltic States and plans to expand its portfolio by investing in sustainably managed forest and agricultural land in the Central and Eastern European countries that are members of the European Union, offering attractive investment returns and a stable regulatory environment . The focus is on the sustainable management of forest and farmland, taking social responsibility into account in addition to protecting nature. The fund’s activities are based on sustainable forest management standards and aim to introduce sustainable management principles to agricultural land.
The fund, which was launched in the second half of 2020, is managed by one of the largest European providers of fund services, the Apex Group, and is open to institutional and private investors from EU countries. The Fund is governed by the laws of the Grand Duchy of Luxembourg and invests in individual countries in accordance with the regulatory restrictions imposed by those countries.
Around INVL Sustainable Timberland and Farmland Fund II (PERSONNEL II)
The fund is managed by Apex Group, one of the largest providers of fund services in Europe. The fund invests in sustainable forest and agricultural areas in the Baltic Sea region and in the Central and Eastern European countries that are members of the European Union. It is open to institutional and private investors from EU member states.
Person entitled to information:
Sigita Bizulienė, Managing Director of INVL Baltic Forests Fund I
E-mail [email protected]