Tuleva financial statements

The law requires that the management company must be a public limited company. Therefore, our funds are not managed by the association but by a subsidiary established for this purpose. The management company does not keep the pension saver’s money on its own balance sheet but in a pension fund: a pool of assets established according to law and managed by the management company in accordance with the fund rules. This means that the unit-holder in the pension fund does not assume the business risk of the management company – if the management company goes bankrupt, the depositary simply chooses a new management company for the fund.







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