INVL Asset Management UAB, the Management Company of INVL Technology (hereinafter may be referred as the Company) was notified by the Bank of Lithuania that it is being given a warning regarding process deficiencies in the provision of investment and investment fund management services and a fine of EUR 140 thousand for infringements relating to the distribution of mutual funds. It should be noted that this decision is not related to the areas of pension funds, alternative investments or the operations of INVL Technology.
INVL Asset Management underscores that it and the Company operate as separate legal entities. This information received from the Bank of Lithuania does not affect the rights and/or duties of the Company's investors or the operations of the Company.
INVL Asset Management stresses that in providing asset management services it is guided by legislation and strives to deliver quality investment and asset management services. Taking into account the comments received during the inspection, INVL Asset Management will improve processes related to investment and asset management services and, with a view to full legal clarity, will examine the situation of the fine which has been levied, where there is a divergence of the practical application and interpretation of European Union legislation in different countries.
The person authorized to provide additional information:
Vytautas Plunksnis
Head of Private Equity
INVL Asset Management UAB
Email vytautas.plunksnis@invl.com