After the successful completion of the projects developed and the realisation of all its assets, the investment fund EIKA Residential Fund (ERF), intended for informed investors, is being closed. The ERF has been operating since 2017 and is managed by the fund management company EIKA Asset Management (EAM). Despite operating during a difficult period, the average annual return exceeded investors’ expectations and amounted to 31.37% after management and performance fees.

The ERF has successfully developed three multi-family residential projects in Vilnius – Šv. Stepono Baltas lapas, Mėlyni vilkai and Antakalnio panorama – and has built and sold 464 apartments and commercial premises. The initial size of the fund was EUR 7.5 million, and the capital was invested with a target return of 15%. Following the successful completion of all planned projects, the fund will be closed with a return distributed to its investors.

Andrius Uždavinys, CEO of EAM:

ERF, the first fund launched by EAM, closes its operations with more than encouraging results. The fund has survived the Covid-19 pandemic, interest rate rollercoasters, changes in the geopolitical situation and other extreme market fluctuations, but despite these adverse circumstances it has exceeded investors’ expectations and achieved an annual return of more than 30%.

Following the closure of this fund, EAM will continue to manage six investment funds, which currently hold around EUR 200 million in assets. The main fund, EIKA Real Estate Fund, is currently active in Poland, where it is developing a 28,000 sqm logistics complex in the west of Warsaw with its partner Panattoni, the largest logistics property developer in Europe, and plans to start construction of another logistics warehouse in the north of Warsaw this year. Currently, the majority of the commercial property portfolio is invested in acquisitions and expansions outside Lithuania.

Uždavinys reveals more plans:

We are still actively investing in residential property in Lithuania and are currently managing a similar type of fund, the EIKA Development Fund, where we will develop and market more than 1,000 apartments in four residential projects. This fund has fully utilised the collected investments and is currently implementing the construction of apartments within these projects. In the future, we plan to offer investors new investment opportunities of this type.