“It will be the first alternative investment fund, registered in Lithuania. The name ”SAM Renewable Energy Fund“ itself directly shows towards its future activity. The need of ”Green energetic“ in the world constantly grows, therefore investment into this sphere is prospective, whereas in the future renewable sources projects undoubtedly will require a lot of funds”. It is planned to attract up to LTL 20 million to the fund till the end of the year“, Evaldas Jurevičius, the director general of ”SNORAS Asset management“ states.

The assets in the fund could be invested exceptionally by professional investors, therefore its units will be issued in a non-public way, however the fund won‘t be privately-owned. The minimal investment into the fund will amount to 100 thousand USA dollars. Investment fund will be managed by Marius Dubnikovas, the ”SNORAS Asset management“ funds manager.

On 3 September 2009 Securities Commission will consider whether to confirm the conditions of ”SAM Renewable Energy Fund“, it also will accept a decision concerning the conclusion of the agreement on depository services.

Presently ”SNORAS Asset Management“ manages 7 investment funds, which capitalization comprises 16.2 million Litas.

The main areas of ”SNORAS Asset management“ activity: management of investment funds, investment companies with variable capital, financial instruments portfolios of other persons, and objects of collective investment of limited distribution; also consulting on issues of investing into investment instruments, protecting and regulating the companies’ shares of investment units of investment funds or investment companies of variable capital.