A new investment fund registered – Signet Sustainability Promoting Fund

On the 10^th of November, 2022 Signet Asset Management Latvia, a subsidiary of Signet Bank, launched a new investment vehicle – Signet Sustainability Promoting Fund. The fund invests in shares and bonds of companies that contribute to the achievement of sustainability goals of the environmental policy.

Surveys show that the public considers reducing the effects of climate change to be the most important goal of sustainability. Therefore, Signet Sustainability Promoting Fund seeks to invest in best-in-class companies of their industry in managing factors contributing to climate change. Additionally, the Fund will not invest in companies whose main activities are thermal coal mining, conventional and unconventional oil extraction, production of alcohol and tobacco products, as well as the production and development of controversial weapons.

This year, inflationary pressures have led central banks to raise interest rates at an extremely rapid pace, which has created many challenging moments in international financial markets. However, the positive aspect here is that because of these price declines, it is now possible to make investments with much better potential returns. We believe that such seemingly harsh conditions, is the most appropriate time to start new investments, thus we have launched the Signet Sustainability Promoting Fund.

Harijs Beķeris, fund manager and Board Member of Signet Asset Management Latvia

We are launching the Fund at a time when climate change is receiving increased global attention every year – as world leaders meet at the COP27 International Conference to promote the transition to a climate-neutral economy. With Signet Sustainability Promoting Fund, we acknowledge our support for global sustainable development initiatives and consider this to be our first step towards building a more environmentally and socially sustainable future together. Recognizing that the financial sector plays a very important role in the successful transition to a sustainable economy, we are confident that products that support the sustainable development goals will become increasingly in demand and available in the offer of financial market participants.

Nora Pastore, Sustainability Officer at Signet Bank

Signet Sustainability Promoting Fund will become the second investment fund managed by Signet Asset Management Latvia, following Signet Bond Fund established in 2020.

Signet Bank is the custodian of the Signet Sustainability Promoting Fund’s assets.

Signet Asset Management Latvia is the investment management company founded in 2010. Its team comprises investment professionals with years of experience in European and Eastern European financial markets. In addition to working with individual client portfolios, Signet Asset Management Latvia also manages a third-level private pension plan and the investment fund Signet Bond Fund.