On 1 July 1999 the Financial and Capital Market Commission (FCMC) issued a licence for operations of the investment management company. 

On 16 September 2015 FCMC issued a licence for operations of the manager of the alternative investments funds. 

On 4 October 2002 FCMC issued a licence for management of the resources of the state-funded pension scheme to PNB Asset management IPAS. 

On 16 December 2002 PNB Asset management IPAS concluded an agreement with the State Social Insurance Agency (SSIA) about management of the resources of the state-funded pension scheme.

Reg. Nr. 40003411599
Registration date 1998 year 24 september
Auditor of Fund PricewaterhouseCoopers SIA


Ģirts Veģeris

Member of the management board.

In year 1989 graduated from Cēsis Secondary School No 1 majoring in physics and mathematics. In year 1994 was awarded BSc. Since year 1995 works in the financial sector.

Mr. Veģeris started with insurance company Balta, and continued his career in the investment management company LVA established by several of the largest insurance companies of Latvia. LVA was acquired by AS PNB Banka in year 2006.

He has been into the management of the investment funds since 2000. As of year 2003 Mr. Veģeris is the manager of the resources of the following Tier 2 pension investment funds established by IPAS “PNB Asset Management”: PNB Active Investment Plan ‘GAUJA’, PNB Balanced Investment Plan ‘VENTA’ and PNB Conservative Investment Plan ‘DAUGAVA’.



In year 1981 graduated from Riga Secondary School No 1 (now State Gymnasium). Winner of several open geography and mathematics championships of the Soviet Socialist Republic of Latvia. In year 1986 graduated with flying colours from the University of Latvia with BSc in geography and teaching of geography (that was later equalled to MSc). In year 1996 acquired MBA from London Business School. 

From 1985-1993 worked in the National Planning Committee of the Soviet Socialist Republic of Latvia, served in the Soviet Army and later worked at the Ministry of Industry of the Republic of Latvia. Since 1993 works as foreign exchange and securities trader in the financial institutions in Riga and London. 

Started at A/S Centra Banka, then relocated to London where he worked for the European Bank for Reconstruction and Development (EBRD), Lehman Brothers, Barclays Capital, WestLB, Standard Bank, Credit Agricole Corporate and Investment Bank. Has been engaged in management of the investment funds since year 2001 when he participated in establishment of AS Parex Asset Management (now Citadele Asset Management) and occupied the post of its board member and manager of funds. 

Since 2015 works for PNB Banka UK Limited in London and, at the same time, is also the securities portfolio manager of AS PNB Banka (since 2016) and portfolio manager of PNB EM High Yield Bond Fund of AS PNB Banka Investment Management Company (since July 2017).