The Bank of Lithuania has issued an alternative collective investment undertaking (AKISVĮ) license to the investment management company EIKA Asset Management. This decision was made after assessing the company’s compliance with legal requirements, including capital adequacy, risk management and transparency of operations.
The obtained license gives the company the opportunity to expand its investment fund management services and strengthen its market position. In addition, it allows it to operate in all countries of the European Union (EU) and the European Economic Area (EEA). Until now, EIKA Asset Management has operated under the Collective Investment Undertakings for Informed Investors (IISKIS) license, which was valid only in Lithuania and regulated by national legislation.
One of the fundamental changes after receiving the AKISVĮ license is that the assets of all funds must be transferred for safekeeping to a depository, whose main function is to represent the interests of investors and ensure that the fund manager acts honestly and complies with all regulatory requirements.
“As fund managers, we have always paid maximum attention to security criteria, risk management, and ensuring transparency. This license is a clear confirmation to all current and future investors that we meet European-level regulatory and supervisory standards, so their investments are no less safe than in other Western funds with a strong reputation,” says Andrius Uždavinys, CEO of EIKA Asset Management.
EIKA Asset Management, which has been operating since 2016, currently manages 7 funds with a value of more than 180 million euros in assets under management and a managed property area of 61 thousand sq. meters. Currently, more than 1,000 apartments and other premises are being developed in projects managed by the funds.
EIKA Asset Management’s planned investments in funds in 2025 are EUR 76 million. This year, the company plans to establish at least two new funds, one of which will be dedicated to residential projects and the second to infrastructure development.