The income of the investment management company “Indexo” in the nine months of this year was 1,641 million euros, up 46.5% compared to the corresponding period last year, but the company worked with a loss of 883,839 euros, as opposed to the profit in the corresponding period a year earlier, the company representatives inform.
The report from the group of investment management companies states that “Indexo” has attracted 30,176 new clients for second and third tier retirement plans in the past 12 months. The total number of “Indexo” customers at the end of September 2022 was 91,200, 49% more than at the end of the third quarter of 2021.
Assets under management have grown by 34% in the last 12 months, from 405 million euros at the end of September 2021 to 540.9 million euros at the end of September this year.
The company says that, with the growth of assets under management, the revenues of “Indexo” have also grown significantly. Operating result before customer attraction costs rose to € 973,100, 50% more than in the nine months of 2021.
This year, “Indexo” invested 1,251 million euros to attract new customers, but the cost of the initial offering of shares (IPO) implemented in the summer was 235,300 euros. The costs of the development project of the “Indexo” bank up to the end of the third quarter amounted to 369,900 euros.
The priority of “Indexo” at the end of this year will be to continue to attract new customers to the second and third level pension plans, as well as the work already started on the implementation of the new bank concept.
“Indexo” is currently working on an application for a banking license issued by the European Central Bank on the proposal of the Financial and Capital Market Commission (FCMC).
In the nine months of 2021, “Indexo” worked with revenues of 1.12 million euros and made a profit of 52,092 euros.
The investment management company “Indexo” was founded in 2017.
According to the information published by “Nasdaq Riga”, the major shareholders of “Indexo” are SIA “Perfect Match” owned by the Estonian citizen Henrik Karmo with 8.44% and SIA “VSCAP” of Valdi Siksni with 6.45% %. The other shareholders own less than 5% of Indexo’s shares each.
