After the law “On Investment Companies” became effective on July 1, 1998, it has become possible to offer shares of investment funds in Latvia.
“Trasta komercbanka” aims to start business of managing public investment funds. Therefore “Trasta komercbanka” has taken a decission to invest in the capital of the new investment company “TKB Investīciju sabiedrība" (TKB Investment company). The mentioned investment means that “Trasta komercbanka” plans to take active part in managing of investment and pension funds.
On July 23, 1998 investment fund “TKB Investīciju sabiedrība" has been registered in the Company Register of Republic of Latvia. Shareholders of the above mentioned company are “Trasta komercbanka” – 96%, “TKB Asset Management” Ltd. – 3,2%, insurance JS company “Parekss apdroљināљanas kompānija” – 0.8%. Registered share capital of the investment company is LVL 125 000.
The investment company will manage investment funds and offer shares of these investment funds, as well as manage financial resources of private pension funds.
Investment company “TKB Investīciju sabiedrība" plans to organize the first investment fund in September of this year. The shares of an opened investment fund will be available for public offer.