In 2023, the asset management company Nter Asset Management increased its operating income by 20% – up to EUR 2.06 million, profit by 2.5 times – up to EUR 288 thousand. The funds managed by the company attracted investments for more than EUR 20 million, assets managed by the company reached EUR 150 million.
“The year 2023 was not an ordinary year. We feel the challenges of the geopolitical situation, which affect both the business environment and the mood of investors – interest in medium and long-term investments in the region continues to decline. In such an uncertain environment, we were able to effectively manage both existing funds and establish new ones, as well as to attract capital to them. As a result, both the assets entrusted to us to manage and the company’s income grew”, says Mantas Skipitis, partner and CEO of Nter Asset Management.
According to him, most of the company’s funds focus on investments in Lithuania. As foreign investment declines due to the war in Ukraine and geopolitical uncertainty, local players have more opportunities to compete for investment in the Baltic States. At the same time, Nter Asset Management increases the geographical diversity of investments, which allows to diversify and balance as well as to expand the investment portfolio abroad.
157 investment contracts for more than EUR 20 million
Last year, Nter Asset Management concluded 157 investment contracts, the total value of which exceeds EUR 20 million. The company focuses its activities mainly in the areas of real-estate, private capital and private debt.
In the middle of last year, the company changed its name from Orion Asset Management to Nter Asset Management. A little earlier, half of the company’s shares were purchased by its manager M. Skipitis and the head of the investment management department B. Poderis, who currently own 25% of the company’s shares each.
In 2023, depository services were started for funds managed by the company, which increased both financial control and protection of investors’ interests.
Private debt funds grew
Last year, the private debt fund Nter Private Debt Fund managed by the company demonstrated the second best result in its history – it earned a net annual return of 10.35% for investors, and the value of its assets, which grew by almost 18%, exceeded the EUR 40 million limit. In 2023, the portfolio of private debt funds increased by almost EUR 7 million. Its growth rate was influenced by a large supply of bonds, which led to more intense competition for new investments.
In the field of private capital, additional challenges were caused by the fall in demand in European markets, stopped investments and stalled expansion and acquisition plans of foreign investors. In 2023, the management company established two new specialized private capital funds, which attracted EUR 10 million – these funds are intended for specific investments for which agreements have already been concluded.
Despite reduced liquidity in the local market and increased interbank interest rates, the real-estate investment portfolio managed by the company ensured stable cash flows for investors, and the real-estate sales of the fund managed by the company on the seashore, although more modest, did not stop. However, due to the decrease in liquidity, we had to adjust the fund portfolio realization schedules. Last year was also important for the Nter Social Infrastructure Fund, which invests in social infrastructure, as it attracted EUR 1.6 million. A significant event for this fund is the construction of the multifunctional centre worth EUR 16.5 million in the Klaipėda district, Sendvaris eldership.
About Nter Asset Management
Nter Asset Management (former Orion Asset Management) is a company that has been operating for more than 20 years and is supervised by the Bank of Lithuania, managing 14 collective investment entities with total assets under management exceeding EUR 150 million. The funds managed by the company invest in Lithuania, Poland, Germany and the USA.