Riga, 2011-01-19 10:11 CET (GLOBE NEWSWIRE) -- The investment management company „Hipo Fondi” is to have another manager. Marina Baranovska will take over the post of the board chairperson of „Hipo Fondi” from its former chairperson Normunds Šuksts who will concentrate on leading the Treasury Department at the Mortgage Bank and transformation of the Mortgage Bank into a development bank.
Marina Baranovska is a board member of „Hipo Fondi” since 2008. Before taking up a post at „Hipo Fondi” Marina Baranovska has worked for five years at the investment management JSC „Baltikums Asset Management” of which the last two – in the capacity of board chairperson.
Jānis Spriņģis – head of the Asset Management Division at „Hipo Fondi” will assume the post of board member. Jānis Spriņģis joined „Hipo Fondi” team in 2009 having worked for investment bank „GILD Bankers” in Estonia.
Normunds Šukstshas been leading „Hipo Fondi” since 2008 when “HipoFondi” majority interest was acquired by Risk Investment Company Ltd owned by Mortgage Bank.
Since integration into the Mortgage Bank’s Group „Hipo Fondi” has multiplied operational volumes several times reaching 4.63% market share in the management of the resources of the state funded pensions. „Hipo Fondi” is the manager of Tier 2 pension plans „Jūrmala”, „Rivjera” and „Safari”. The active state funded pension plan „Safari” has been the most profitable of all the pension plans already from the outset. “Hipo Fondi” manages two open investment funds and two closed real estate funds. In 2010 the company strengthened the capital base required for development by attracting the funds of private investors in the amount of 210 000 lats.