Tuleva’s goal is to generate returns over the long term. We know that the value of assets invested in the fund can fluctuate sharply from year to year, but it is impossible to earn high returns without taking calculated risks.

Our fund tracks global stock markets, which have yielded an average historical return of approximately 7% per year over the last 100 years. However, this is only a long-term average: history has shown both massive bull markets and periods of deep decline.

Past performance is no guarantee of future results. The coming years in the stock markets may not look like the past. It is possible for the fund to experience losses in the short term.

• Market risk: Like any investment, the value (and return) is not guaranteed. If stock markets fall, the value of your fund units falls. This is a natural part of investing. The golden rule remains: do not invest money in stocks or equity funds that you plan to use in the near future.
• Business risk: What if something happens to Tuleva? According to the Investment Funds Act, the fund’s assets are kept strictly separate from the assets of the fund manager (Tuleva). The fund’s assets are held by a depositary (AS SEB Pank). This means that even if something were to happen to Tuleva, your assets remain protected and separate.
• Operational risk: How can you be sure your money isn’t misused? Tuleva’s fund rules strictly define where the fund manager can allocate investor money. It can only be invested in funds within the model portfolio that meet specific criteria (e.g., matching the MSCI ACWI index and being sufficiently liquid). Therefore, a fund manager cannot “siphon” money away, even with the worst intentions.

You can also read more in section 4.1 of the prospectus (in Estonian).

You can purchase units of the Tuleva Additional Investment Fund directly on our website:

1. Open an account for the Additional Investment Fund on the Tuleva website.
2. Choose the amount you wish to contribute. You can start with as little as 1 euro.
3. You will be directed to your bank via a payment link.
4. Pay for the units from your current account. We recommend using an account registered as an Investment Account (investeerimiskonto).
5. Acquire units: You can view and sell your units by logging into your Tuleva account.

To keep costs as low as possible, fund units cannot be bought or sold through other service providers.

We recommend using an investment account to buy units. This allows you to defer your income tax liability until you sell your investments and withdraw the money from the investment account.

If you don’t have one yet, open an investment account at your bank and transfer the intended investment amount there first. You can have multiple investment accounts. From there, make the transfer to your Tuleva account. If you decide to sell your units later, the proceeds should be transferred back to your investment account to maintain the tax deferral.

Read more: Why and how to use an investment account with this fund.

Not yet. We plan to open the fund to minors in the upcoming months.

Not yet. We plan to open the fund to legal entities in the upcoming months. Initially, we will offer this to Estonian-registered companies where the board member and owner are the same person. In the future, we will consider expanding this to companies with multiple board members or owners.

Unlike pension funds, regular fund units or shares cannot be “transferred” automatically to Tuleva. The most cost-effective and fastest way is:

1. Sell your existing assets at your current service provider.
2. Wait for the funds to settle: Depending on the instrument, this usually takes 2–3 business days.
3. Deposit into Tuleva: Once the cash is in your account, log in to Tuleva and make a contribution to the Additional Investment Fund.

If you invest as an individual using an investment account (investeerimiskonto), selling your assets does not trigger an immediate tax liability – you can reinvest the full amount (including profit) tax-free. If you use a regular bank account, you will need to pay income tax on any realized profits in your next tax return.

LHV Growth Account: Tuleva is more cost-effective. LHV charges fees for buying and selling investments, which do not exist at Tuleva.

Lightyear: They offer a wide range of stocks and funds – some cheaper, some more expensive than Tuleva. Many are good alternatives. Tuleva’s main advantage is simplicity; you don’t have to navigate endless choices.

Swedbank Robur: Swedbank offers 22 different Robur funds with fees ranging from 0.26% to 1.66%. Their most similar fund is Robur Access Edge Global (0.29%), but it only invests in developed markets. To include emerging markets, you would need Robur Access Edge Emerging Markets, which has a higher fee of 0.45% per year. Tuleva covers the entire global market in one simple, low-cost package.