The whole world market.
One fund.

You can buy Tuleva Additional Investment Fund units on Tuleva's website. It works like this:

1. Open an Additional Investment Fund account.
2. Choose a suitable contribution amount and whether you want to make a one-time payment or a recurring payment. Start with as little as 1 euro.
3. You are then directed to your bank with a payment link.
4. Pay for the units from your current account. We recommend using an account registered as an investment account.
5. You now own Tuleva Additional Investment Fund units. You can see and sell your units by logging in to your Tuleva account.

Fund units cannot be bought or sold through other service providers, because that would create additional costs.

See also: how to open an account for a company and how to start saving for a child.

When investing as a private person, we recommend using an investment account to buy Additional Investment Fund units. This makes sense because it lets you defer your income tax liability until you sell your investments and take the money out of the investment account.

So if you don't have one yet, open an investment account at a bank and transfer the money meant for the Additional Investment Fund there. You can also have several investment accounts. Then make a transfer from the investment account to the Tuleva Additional Investment Fund account. If at some point you want to sell Additional Investment Fund units, the money should be paid back to the investment account.

Read more: why and how to use an investment account with the Additional Investment Fund?

Unlike pension funds, ordinary fund units and shares cannot be automatically "transferred" from another service provider to Tuleva. The most cost-efficient and fastest way is the following:

1. Sell your existing assets: sell the positions at your service provider that you want to bring to Tuleva.
2. Wait for the money to arrive: depending on the instrument, whether a fund or a stock, it usually takes 2–3 business days for the money to arrive.
3. Make a contribution to the Tuleva Additional Investment Fund: once the money is in your account, log in to Tuleva and make a payment to the Additional Investment Fund.

If you invest as a private person and use an investment account, selling your assets creates no immediate income tax liability: you can reinvest the whole amount, including the gains, tax-free. If you invest from an ordinary account, you have to pay income tax on the gains from selling your existing assets with your next tax return.

As an illustration, we have put together a guide for bringing assets held at Swedbank to Tuleva, that is, selling your existing assets and making a contribution to the fund. Broadly, the process is similar when selling assets at other service providers and making a contribution to the Tuleva Additional Investment Fund.

When moving assets held by a company, the sale and purchase are recorded in the company's accounts. Taxes only arise once you sell the units and take the profit out of the company.

Unlike pension funds, the Tuleva Additional Investment Fund is a UCITS fund. This means you have the right to sell your units back and withdraw your money at any time.

A sale order for Additional Investment Fund units must be submitted through Tuleva's website. The money arrives in your bank account within three business days after the redemption price is published (T+3). Where possible, we make the payment faster.

In more detail, the process works like this:

• Order timing: if you submit a sale order on a business day before 16:00, it is considered received the same day. If you submit an order after 16:00, on a weekend, or on a public holiday, it is considered received on the next business day.
• Payout speed: we make the payout within three business days after the redemption price is published. For example, if you submitted a sale order on the 1st at 14:00, we publish the redemption price on the 2nd at 16:00.
• We make the payout only to the account you have made a contribution from. This way we can be sure the account is yours.

No, the fund does not make cash payouts as dividends. Instead, we automatically reinvest the earned income inside the fund.

This has two main benefits. First, reinvesting dividends helps grow the fund's assets and the value of your units over time. So although no regular payouts land on your account, you still earn additional income, which is reflected in a higher unit price. Second, income tax would have to be paid on dividends, which in turn would reduce your income.

If you want to get money out, you can sell fund units and make a withdrawal at any time. See the question "How do you get your money out?" above.

If you invest as a private person and use an investment account, income tax declaration starts from the bank where you opened the investment account. You declare to the tax authority the difference between the money paid into the investment account and the money paid out of it. Contributions to Tuleva Additional Investment Fund units must be marked as neutral in the investment account declaration if you have not sold units during the current year, in which case they are not taken into account when calculating the difference.

If you invest from an ordinary current account rather than an investment account, sell fund units, and have earned income, you must declare the earned income yourself to the Estonian Tax and Customs Board when filling in your tax return. Tuleva does not withhold income tax.

Tuleva's goal is to earn returns over the long term. We know that the value of assets invested in the fund can swing sharply from year to year, but without taking conscious risk it is not possible to earn a high return.

Our fund tracks the world's stock markets, whose historical return over the last 100 years has been roughly 7% per year. Still, this is only a long-term average: history has shown both very big growth years and periods when markets have been in a deep slump.

The average return so far is no guarantee. The coming years on the stock markets may not be like the previous ones. It is possible that the fund will instead make a loss in the coming years.

First, as with any investment, the value of your investments, in other words the return, is not guaranteed. When stock markets fall, the value of a fund unit falls too. This is a natural part of investing. The main rule is still: don't invest money in stocks or stock funds that you plan to take into use in the near future.

Second, there is business risk: what if something happens to Tuleva? Under the Investment Funds Act, we hold the fund's assets, meaning the fund's securities and cash, in other words your investments, strictly separate from the assets of the fund manager, Tuleva. The fund's assets are held by the depositary, AS SEB Pank. This means that even if something were to happen to Tuleva, your assets are protected, because they are strictly separated from Tuleva's own.

Third, we have been asked how it is ensured that we don't use your invested money in bad faith. The terms of Tuleva's funds set out precisely where the fund manager may put investors' money. The money may only be invested in the funds in the model portfolio. These funds must meet certain conditions, for example together tracking the MSCI ACWI index and being sufficiently liquid. This is why not even a fund manager with the worst intentions could move money "aside" at Tuleva.

We have also recorded a separate podcast episode about risks and diversification. You can read more in section 4.1 of the prospectus.

For investing in an index fund, the Tuleva Additional Investment Fund is cheaper than LHV's Growth Account (Kasvukonto) and Securities Account (Väärtpaberikonto). In LHV you pay fees when buying and selling investments; in Tuleva there are none. Read more →

Lightyear offers a wide selection of stocks and funds, some cheaper and some more expensive than the Tuleva Additional Investment Fund. Many of them are good alternatives. Tuleva's advantage over Lightyear is the simplicity of choice. Read more →

Swedbank offers 22 different Robur funds with fees ranging from 0.26% (Access Edge Japan) to 1.66% (Emerging Europe). The fund most similar to the Tuleva Additional Investment Fund is Robur Access Edge Global with a 0.29% fee. Unlike the Tuleva Additional Investment Fund, it invests only in developed markets. Robur Access Edge Emerging Markets, with a fee of 0.45% per year, invests only in emerging markets. Read more →

Yes. From June 15, 2026, an Estonian-registered private limited company with up to two shareholders, whose shareholders are at the same time board members and beneficial owners, can also invest in the fund. The same fund and the same fee as for a private person.

It works like this:

1. Log in to Tuleva's website. Fill in the questionnaire both about yourself and about the company. If the company has two shareholders, both must complete this step.
2. You now have two profiles in Tuleva: one in your name and another in the company's name.
3. Make the first contribution from the company's bank account. You can set up contributions and a recurring payment the same way as a private person.

Yes. If the company has two shareholders, you both have to go through verification, which means filling in a short questionnaire.

If the company's structure no longer meets the conditions, for example a third shareholder joins, the company cannot acquire new fund units. In certain cases we have the right to redeem the fund units unilaterally. The value of the existing units is preserved.

No, when investing in the Additional Investment Fund through a company, the company cannot earn a member bonus, because the articles of association of the Tuleva cooperative do not allow it.

If you are a member of the Tuleva cooperative and invest in the Additional Investment Fund as a private person, you earn a member bonus of 0.05% of the value of your assets every year.