| Abstract [eng] |
Supervisor – Prof. dr. Arvydas Paškevičius. Paper prepared in the year 2021 in Vilnius. Size of the paper – 74 pages. Number of tables –17. Number of pictures – 18. Number of references and literature – 55. The aim of this master's thesis is to perform an analysis of the efficiency of the pillar II pension funds of UAB “Swedbank investicijų valdymas“ presenting the investment risk and return ratios, and assessing the level of diversification of pension fund portfolios. The tasks of the work are to reveal the understanding of the pension system and its significance, to define pension funds and their classification, to present the investment strategies of pension funds. To present the efficiency methodology of the pillar II pension funds of UAB “Swedbank investicijų valdymas“, to review the market of pillar II pension funds, to discuss the types of pension funds of the pillar II of UAB “Swedbank investicijų valdymas“, to evaluate the efficiency of the pillar II pension funds of UAB “Swedbank investicijų valdymas“ and to examine UAB “Swedbank investicijų valdymas“ the pillar II pension funds life cycle pension fund portfolios. The methods used in the work are the analysis of scientific literature, graphical presentation of historical statistical data and their comparative analysis, market performance of the pillar II pension funds and evaluation of efficiency indicators of UAB “Swedbank investicijų valdymas“, and analysis of life cycle pension funds of UAB “Swedbank investicijų valdymas“, portfolio structures. The analysis has shown that ETFs are a particularly popular investment destination for pension funds after 2019 reform. The investment in ETFs by the pillar II pension funds in the market has grown significantly since 2020. At the end of June 2018, ETF pension funds already had about 50% of their structure, compared to 2 years ago. At the end of the year, the ETF was up 33%. After calculating the profitability indicators, it was noticed that the newly formed the pillar II pension funds of UAB “Swedbank investicijų valdymas“ (after the 2019 reform) did not earn the set profit and did not reach the expected risk index, but the return on securities was closest to the benchmark. There were significant fluctuations in the market due to the Coronavirus pandemic, and the funds started operating in 2019, so the results of pillar II pension funds are appropriate considering these factors as well. |
