Team | Avaron

An experienced local team with shared values

We have been investing into Emerging Europe for more than 20 years. Our team of 20 professionals, based in Estonia and Poland, share the same investment principles and corporate values.

Passion for investing, professionalism, flexibility, trust and ambition for constant improvement unite our team and act as the guiding principles to the way we approach asset management.

Partners and Investment Managers

Kristel Kivinurm-Priisalm

Founder, CEO

Managing Partner

Valdur Jaht

Founder, co-CIO

Partner & Investment Manager

Peter Priisalm

Founder, co-CIO

Partner & Investment Manager

Rain Leesi, CFA

Investment Manager

Today Avaron has one of the largest teams dedicated to Emerging Europe investments comprising of 20 professionals based in Estonia and Poland. Using quantitative and qualitative screens we have narrowed the 6,000 companies listed in Eastern Europe down to 250 that form our internal investment universe and on which we conduct our proprietary analysis. Our team assesses companies’ business models, management quality, development plans, financial standing and outlook based on their public disclosure and continuous company meetings and management interviews.

In recent years extensive effort has been put on in-house analysis of the sustainability aspects of each company. We believe investing successful in Emerging Europe relies on in depth understand of the local business environment and regional sector trends achieved by long term experience on these markets.

Research Team

Piotr Jurga, CFA
Senior Analyst

Reino Pent
Senior Analyst

Maksim Miruškov, CFA
Analyst

Silver Schmeiman
Analyst

Mark Böttner
Analyst

Support Staff

Maarja Härsing-Värk
Head of Back-Office & Operations

Ingrid Kõrgema
Chief Compliance Officer, Head of Compliance, Legal & Risk

Maarja Kõrvek
Senior Back-Office Specialist

Jaanika Jutt
Back-Office Specialist

Svetlana Jegorova
Operations Specialist and Accountant

Investor Relations

Georg Holger Timmi
Head of Investor Relations

Kevin Kalle Kell
Investor Relations Associate

Kristo Rosin
Sales Team Lead

Luisa Müür
Investor Relations Specialist

Disclaimer

IMPORTANT LEGAL INFORMATION

The following information applies to every page on this web site, whether or not such pages individually contain a disclaimer notification. This material has been drawn up by AS Avaron Asset Management (hereafter: Avaron), a fund management company registered in Estonia which is authorised and supervised by the Estonian Financial Supervision Authority. The contact details of Avaron are as follows: address Narva mnt. 7D, Tallinn 10117, Estonia; phone +372 6644200; e-mail info@avaron.com. Material on the website is the copyright property of Avaron, unless noted otherwise, and all rights are reserved.

This material contains data and facts on investments and funds managed by Avaron, which are provided for information purposes only. No investment advice is offered or given by Avaron to persons using this material. This material is complimentary to and not a substitute for independent professional advice from a person qualified to provide it in your home country. Reliance on this material for the purpose of buying the securities to which this material relates may expose a person to a significant risk of losing all of the money invested. The information herein is, to the best of the knowledge of Avaron, in accordance with the facts. However, Avaron, none of its affiliates, directors or officers accept any liability in respect of the accuracy or completeness of any information herein, or omitted to be included herein, or any information provided, or omitted to be provided, by any third party. All information and expressions of opinion contained in this material are subject to change without notice, unless the law requires otherwise.

This material does not constitute or form part of a distribution or an offer or solicitation to buy or sell any securities (in particular, shares or units in any of Avaron funds) to any person in any jurisdiction in which such distribution, offer or solicitation would be contrary to local law or regulation. In particular, the information herein is not for distribution, and does not constitute an offer to sell or buy, or the solicitation of any offer to sell or buy, any securities in the United States of America or to or for the benefit of United States persons (within the meaning of Regulation S under the Securities Act of 1933). In relation to persons in the United Kingdom, the information herein is directed only at Investment Professionals in the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. This material should not be relied on by persons in the United Kingdom who are not Investment Professionals. Any investment or investment activity to which this material relates is available in the United Kingdom only to Investment Professionals and will be engaged in only with Investment Professionals. In relation to persons in Switzerland, this material is directed only at Swiss Qualified Investors in the meaning of Article 10 (3) of the Collective Investment Schemes Act. Swiss private individuals are not allowed to use this material. The funds managed by Avaron are not authorised for public distribution in Switzerland.

Subscription of Avaron funds should be made on the basis of the funds’ prospectus and key investor information document (KIID), the relevant fund rules or articles of association and the latest available annual or semi-annual reports. These documents can be obtained from Avaron. Past performance is not indicative of future results. The value of investments and any income derived from the funds may fall as well as rise and investors may not get back the amount invested. An investment in the funds entails risks, some of which are described in the prospectuses of the funds. Investors should be aware of the high risks associated with investments in emerging markets such as Central and Eastern Europe. This material may include forward looking statements which are based on Avaron’s current opinions, expectations and projections. We undertake no obligation to update or revise any forward looking statements. Actual results could differ materially from those anticipated in the forward looking statements. Any dispute, controversy or claim arising out of or in connection with the information provided in this material shall be settled in accordance with Estonian law exclusively in Estonian courts. Information provided in this material has originally been prepared in the English language and has been translated into Estonian. In case of any discrepancy between the two versions, the English version shall prevail.

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