As of end 2017 Avaron managed 488 million euros, out of which the core Emerging Europe listed equity strategy accounted for 475 million euros. The Company manages two mutual funds domiciled in Estonia – Emerging Europe Fund and Flexible Strategies. Avaron Emerging Europe Fund is focused solely on Emerging Europe ex-Russia listed equities. Avaron Flexible Strategies Fund is an asset allocation fund combining predominantly Emerging Europe cum-Russia listed equities, fixed income and money market instruments but is not bound to the specific region according to the fund rules and can invest globally. Total assets under management of Avaron’s mutual funds in the end of 2017 amounted to 94 million euros, out of which 81 million euros was in Emerging Europe Fund and 13 million euros in Flexible Strategies Fund. Fixed income investments made within the scope of Flexible Strategies fund accounted for 1% of total AUM of Avaron.
In addition to the Estonian domiciled mutual funds, Avaron provides sub-investment management services to third party funds and managed accounts. Investment management services to professional investors in the form of third party funds and managed accounts have been an increasing business line for the Company over the past five years and accounts now for 80% of the assets under management. The total size of institutional investors’ mandates in the end of 2017 was 389 million euros. Besides that Avaron also manages 5 million euros worth of portfolios for high net worth individuals.