HÜVITUSFOND

ANNOUNCEMENT

 

SUPERVISORY BOARD DECISIONS

 

Today the Supervisory Board of Hüvitusfond approved the strategy, 

budget and financial plan for the next year. The Supervisory Board 

extended contracts with current Chairman of the Management Board 

and other Management Board members.

 

Hüvitusfond will continue with its current strategy, employing the 

principles of conservative investment policy. The fund's 

investments are focused mostly on money and capital market 

instruments as well as loan products. During the next year, the 

fund plans to issue bonds in the amount of 150-200 million EEK. 

 

Both public and closed issues will be made. According to plans, 

there will be two public issues (in the I and III quarter) and 

two-to-three closed issues. In order to increase investor interest 

towards the issues and activity in the secondary market, some 

closed issues may be converted to public issues. In determining the 

bonds' yield policy, the current situation in the money and capital 

markets will be taken into consideration. 

 

The Supervisory Board of Hüvitusfond re-elected Aare Tammemäe as 

the Chairman of the Management Board. As proposed by Aare Tammemäe, 

the Management Board remains unchanged. The Supervisory Board 

elected the Chairman of the Board and the Management Board for the 

next three years.

 

The net result of Hüvitusfond for the first three quarters is a 

76.3 million EEK profit. The net asset value increased by 292 

million EEK, amounting to 1,012 billion EEK at the end of the 

period. Revenues from privatisation amounted to 258 million EEK. 

 

 

Jaanus Kosemaa

Head of Public Relations

+372 66 51 800, +372 51 04 614