1954-1960 tikslinės grupės pensijų fondas
This fund is mostly aimed at people born between 1954 and 1960. The most likely share of investment in equities is 25% at the beginning and is reduced by 5 percentage points each year until it reaches 17%. The proportion invested in investment-grade debt securities of the European Union, the Organisation for Economic Co-operation and Development governments and companies, developing countries and non-investment rated companies, is increased accordingly.
Pension Fund Depository - Luminor Bank AS, legal entity code 11315936, registration address Liivalaia tn 45, Tallinn 10145, Republic of Estonia, acting through the Lithuanian branch of Luminor Bank AS, legal entity code 304870069, registered office address Konstitucijos ave. 21A, 08105, Vilnius, Republic of Lithuania.
As of 2025-06-01:
Developed marked and emerging market equity indices were aggregated to one index: MSCI ACWI Net Total Return EUR to simplify benchmark structure and overall equity proportion slightly increased. Less risky asset indexes were adjusted to optimise expected return and risk characteristics for pension fund participants.
The benchmark consists of a basket of risky assets (equities):
- 17,0% MSCI ACWI Net Total Return EUR Index,
and less risky assets (debt securities):
- 17,0% Bloomberg Euro Aggregate Treasury Total Return Value Unhedged EUR Index,
- 42,0% Bloomberg Euro Aggregate Corporate Total Return Value Unhedged EUR Index,
- 10,0% Bloomberg EM USD Sov + Quasi-Sov Total Value Return Hedged EUR Index,
- 14,0% Bloomberg Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
From 2023-04-01 to 2025-05-31:
The share of developed countries equities has been increased, reducing the share of emerging markets and hedging its exchange rate risk to limit the emerging markets risk. The less risky assets benchmark was broadened to include government, corporate, emerging markets, and high-yield corporate debt in order to increase diversification and yield.
The benchmark consists of a basket of risky assets (equities):
- 8,5 % MSCI World Daily Net Total Return EUR Index
- 1,5 % MSCI EM Daily Net Total Return EUR Index.
Less risky assets (debt securities):
- 27,0 % Bloomberg Euro Aggregate Treasury Total Return Value Unhedged EUR Index
- 36,0 % Bloomberg Euro Aggregate Corporate Total Return Value Unhedged EUR Index
- 18,0 % Bloomberg EM USD Sov + Quasi-Sov Total Value Return Hedged EUR Index
- 9,0 % Bloomberg Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
From 2022-01-01 to 2023-03-31:
The share of risk assets and the fund’s volatility have been reduced, according to the life cycle principle, as participants are approaching retirement age.
The benchmark consisted of a basket of risky assets (equities):
- 7,0 % MSCI World Daily Net Total Return Index
- 3,0 % MSCI EM Daily Net Total Return Index.
Less risky assets (debt securities):
- 54,0 % Bloomberg Barclays Euro Aggregate Bond Total Return Value Unhedged EUR Index
- 27,0 % Bloomberg Barclays Emerging Markets USD Sovereign + Quasi Sovereign Total Return Value Unhedged EUR Index
- 9,0 % Bloomberg Barclays Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
From 2021-01-01 to 2021-12-31:
The share of risky assets and the fund's volatility have been reduced, according to the life cycle principle, as participants approach retirement age.
The benchmark consisted of a basket of risky assets (equities):
- 10,5 % MSCI World Daily Net Total Return Index
- 4,5 % MSCI EM Daily Net Total Return Index.
Less risky assets (debt securities):
- 51,0 % Bloomberg Barclays Euro Aggregate Bond Total Return Value Unhedged EUR Index
- 25,5 % Bloomberg Barclays Emerging Markets USD Sovereign + Quasi Sovereign Total Return Value Unhedged EUR Index
- 8,5 % Bloomberg Barclays Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
From 2020-01-01 to 2020-12-31:
The share of risky assets and the fund's volatility has been reduced, according to the life cycle principle, as participants approach retirement age.
The benchmark consisted of a basket of risky assets (equities):
- 14,0 % MSCI World Daily Net Total Return Index
- 6,0 % MSCI EM Daily Net Total Return Index.
Less risky assets (debt securities):
- 48,0 % Bloomberg Barclays Euro Aggregate Bond Total Return Value Unhedged EUR Index
- 24,0 % Bloomberg Barclays Emerging Markets USD Sovereign + Quasi Sovereign Total Return Value Unhedged EUR Index
- 8,0 % Bloomberg Barclays Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
From 2019-01-02 to 2019-12-31:
The benchmark consisted of a basket of risky assets (equities):
- 17,5 % MSCI World Daily Net Total Return Index
- 7,5 % MSCI EM Daily Net Total Return Index.
Less risky assets (debt securities):
- 45,0 % Bloomberg Barclays Euro Aggregate Bond Total Return Value Unhedged EUR Index
- 22,5 % Bloomberg Barclays Emerging Markets USD Sovereign + Quasi Sovereign Total Return Value Unhedged EUR Index
- 7,5 % Bloomberg Barclays Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
