Investment management results for Q1, 2023: the value of the portfolio grew to EUR 3.44 million

The VU endowment fund announces its investment management results for Q1, 2023. According to Justinas Noreika, CEO of the VU Foundation, the year 2022 was closed with only -0.2% (for comparison, the weighted average performance of Lithuanian pension funds was -13.81%, the MSCI World (EUR) index was -12.78%). The result of the first quarter of 2023 rose to +2.4%, the value of the portfolio grew to EUR 3.44 million.

"The VU Foundation’s move to gradually increase the number of shares in the portfolio from the end of 2022 has paid off. In the first quarter of this year, the main financial markets showed positive returns, despite the failure of several large banks. In the US, equity markets were supported by significant appreciation of large technology sector companies’ shares, while in Europe the warm winter helped many companies to beat earnings expectations," the Investment Board comments.

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Members of the VU Foundation's Investment Board, responsible for professionalism and performance: Alius Jakubėlis (Chairman), Šarūnas Barauskas, Mindaugas Mažeikis, CFA, prof. Konstantinas Pileckas, Paulius Kunčinas, and Tomas Krakauskas.