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First closed pension fund founded

Aug 12, 1999
By Anastasia Styopina

RIGA - The telephone company Lattelekom founded the first closed pension fund in Latvia and signed a cooperation agreement with Hansabanka and Suprema Aug. 3.According to the agreement, Hansabanka will provide custody services while Suprema will be the fund's asset manager."This is an important event for Latvia's securities market and economy overall," said Anri Leima-nis, the pension fund's board chairman. "With the appearance of the first closed pension fund, Latvia gets a new investor that wi ...

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