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CBL Baltic Sea Equity Fund

OverviewPerformanceKey factsTeamDocuments

Investment Characteristics

  • Diversified equity portfolio of companies from the Baltic Sea region
  • Long-term capital growth from share price appreciation and dividends
  • Active and disciplined team-based investment process based on regional expertise
  • In-house top down views on markets and sectors combined with bottom-up stock picking


Fact sheet
Key Investor Information Document (KIID)

Risk profile

Synthetic Indicator indicatively shows the volatility of the Fund’s profitability: the higher this indicator, the higher the potential reward; at the same time it involves a higher risk to suffer losses. The lowest category of the indicator does not mean that the investments in the Fund are not exposed to risk.

Over a period of time: 13.12.2018.
Base currency: EUR
NAV per share: 40.42
Daily NAV change: 0.42%
Fund size: 3 235 521 EUR
ISIN code: LV0000400794

Fund's performance

Year to date 3 months 6 months 1 year 3 years 5 years Since inception
-12.64% -6.69% -10.79% -13.21% -0.35% -0.13% 2.36%

Download full history (.CSV)

  • Management Company: IPAS CBL Asset Management
  • Custodian bank: Citadele banka
  • Inception Date*: 24/08/2004
  • Base Currency: : EUR
  • Management Fee: 2.0% p.a.
  • Front Load Fee: Up to 2.5%
  • Issue/redemption: Daily
  • Distribution Status: Accumulative
  • Legal Status: UCITS IV, Latvia
  • Regulator: Financial and Capital Market Commission Latvia (FCMC)
  • ISIN: LV0000400794
  • Bloomberg Code: CITBSEF LR


* The data before November 20, 2013 relates to „Citadele Baltic Sea Countries Equity Fund” (ISIN LT0000950008), which was fully transferred at par into newly established "CBL Baltic Sea Equity Fund” (ISIN LV0000400794) with the identical investment strategy.

Experienced management team with proven track record, whose performance has been recognized by the leading international fund rating companies.

CBL Russian Equity fund has received Lipper Fund Award as the best Russian Equity Fund in Europe in 2013 and since inception has ranked in the upper percentiles in its Morningstar peer group. In 2015 Citywire recognized our fund manager Kristiana Janvare as the second most successful fund manager in the CEE region.

Elchin Jafarov
Elchin Jafarov (Senior Portfolio Manager, 7 years with the company, 11 years in the industry, MA in Economics)
Elchin Jafarov has been with CBL Asset Management since 2007. Elchin has extensive decade-long experience in managing Eastern European equities, with his team achieving top results, such as the best Russian Equity Fund in Europe in 2013 by Lipper and the second best Eastern European fund for CBL Baltic Sea Equity Fund by Citywire in 2015. Elchin also has A manager rating from Citywire. He holds a Master’s degree from Stockholm University with major in private equity investments.
Igor Lahtadir, CFA
Igor Lahtadir, CFA (Portfolio Manager, 5 years with the company, 10 years in the industry, BSc in Economics)
Igor Lahtadir is portfolio manager at CBL Asset Management where he is responsible for the management of all CBL equity funds.

Igor joined the Company in 2011 and since 2013 has been an Investment Committee member of all CBL Asset Management equity funds. He holds a BSc degree in Business and Economics from the Stockholm School of Economics in Riga. Igor is a CFA charterholder and passed level 1 exam of CAIA (Chartered Alternative Investment Analyst) designation.