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Private Portfolio

Personal income tax refunds

According to the law on Personal income tax you may receive a 20% personal tax refund for amounts transferred that do not exceed 10% of your annual gross salary and the aggregate limit of 4000 EUR.

Example

Gross monthly salary: 800 EUR
Amount deposited monthly: 40 EUR
Amount deposited yearly: 40 * 12 = 480 EUR
Personal income tax refund: 480 * 20% = 96 EUR

Key information document

Single premium payment

Regular premium payments

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A convenient and effective way of investing money

A unit-linked life insurance solution for saving and investing. A convenient solution if you want your investments to be managed by investment experts.

  • Investments according to the strategy chosen
  • Low administration fees, from 0.4%-1.25% per year
  • Option to assign a beneficiary
  • Automatic calculation and deduction of tax on profit
  • Possibility to get a tax refund of up to 20% from the state every year
If you have any further questions, don’t hesitate to sign up for a remote consultation at a time convenient for you.

Book a consultation

Private Portfolio Calculator

Savings period
years
Monthly payment
EUR
Choose strategy
  Positive Scenario Zero rate scenario Negative Scenario
Total premiums EUR EUR EUR
Projected savings value at the end of period and estimated total tax refund EUR EUR EUR
Projected savings value at the end of period EUR EUR EUR
Estimated total tax refund EUR EUR EUR
Estimated annual average earning rates of underlying assets (  Strategy) % % %

All values generated by this calculator are not guaranteed and only serve as an illustrative example generated based on the values entered in the calculator. Please take into account that the value of an investment unit may increase or decrease during the contract lifetime and also the value of the reserve may accordingly increase or decrease in line with the value of the investment unit.

  • Please note that this estimate calculator uses variables and methodology (planned contribution, saving period selected, savings profitability forecasts and their scenarios) which substantially differ from the savings profitability forecast calculation methodology provided in the regulatory technical standards of the key information documents for packaged retail investment and insurance-based investment products (PRIIPs).
  • In deciding on the choice of the product, please refer to the calculation forecast results indicated in the Table of Performance Scenarios under the section "What are the risks and what might I get back” of the Key Information Document of your selected product.
  • Flexible terms of contributions. Possibility to choose between investing regularly from EUR 50 per month or setting up a contract without any fixed payment regularity and making lump-sum contributions whenever you wish (in such case, the minimum first payment is 1000 EUR)
  • No additional fee on contributions.
  • Low administration fees, from 0.4%-1.25% per year depending on the strategy and investment amount.
  • Additionally, your life will be insured to the amount of 2% of the investment value (accrued amount). In case of an insured event, the insurance benefit will be paid out to the beneficiary designated in the contract.
  • Possibility to designate one or several
    beneficiaries. To avoid a potentially lengthy and complicated inheritance process, we suggest designating one or several persons as beneficiaries. If you designate a beneficiary in your contract, then the accrued capital will be separate from the rest of the estate. In such case, if an insured event occurs, the insurance benefit (accrual + sum insured) will be divided between the beneficiaries.
  • Automatic calculation and withholding of tax on the profit at the
    moment of payout. The tax on income earned under the unit-linked life insurance contracts is calculated, withheld and transferred to the state budget by the insurer.
  • An opportunity to get a 20% personal income tax refund every year. An opportunity to claim the income the personal income tax refund at the rate of 20% of the contributions made towards savings up to 10% of your gross annual salary and the aggregate limit of 4000 EUR on annual basis from the state. Also, take into account that in case of terminating the contract/making a partial withdrawal of the accrual before 10 years have passed since the conclusion of the contract, you may incur a liability to pay back the tax refunds received up until that date.
  • The investment portfolio, according to the chosen strategy, will be managed on your behalf by Swedbank’s investment experts. Investments are managed by Swedbank Investeerimisfondid AS which is one of the oldest and largest investment management companies in the Baltics, has been active since 1994 and is part of the Swedbank group as a subsidiary of Swedbank Robur.
  • Investments will be allocated according to strategy that you have chosen. Get a recommendation of the suitable strategy by filling out the questionnaire.
  • As investments are managed by experts, you won't have to worry about which assets to invest in or when is the right time to change the composition of the existing assets in the chosen strategy.
  • Check the performance of your investments at any time, as well as reviewing monthly reports prepared by our investment experts.

To determine which investment strategy suits you best, fill out the questionnaire.

Performance of investment strategies

Aggressive Growth Strategy

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The objective of the strategy is to achieve the maximum possible rate of return over long term which is sought to be achieved by investing in equity securities in a diversified manner. 100% of assets are invested in equity securities, but, depending on the market situation and for better achievement of the strategy’s objective, it is permitted to increase and reduce the weight of equity investments in the range of 70% to 100% of the strategy portfolio assets.

The strategy is suitable for investors who wish to invest for 10 years or more.

documentMonthly report

Growth Strategy

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The objective of the strategy is to achieve growth in the value of the assets invested that is attainable at somewhat higher level of risk over medium to long term. This is sought to be achieved by investing in equity and fixed income securities, including money markets, in a diversified manner, with 75% of assets invested in equity securities. Depending on the market situation, for better achievement of the strategy’s objective, it is permitted to increase and reduce the weight of equity investments in the range of 60% to 90% of the strategy portfolio assets.

The strategy is suitable for investors who wish to take on higher risk and make long-term investments (at least 7 years).

documentMonthly report

Balanced Strategy

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The objective of the strategy is to achieve medium-term growth in the value of the assets invested that is attainable at a moderate level of risk. This is sought to be achieved by investing in equity and fixed income securities, including money markets, in a diversified manner, with 40% of assets invested in equity securities. Depending on the market situation, for better achievement of the strategy’s objective, it is permitted to increase and reduce the weight of equity investments in the range of 25% to 55% of the strategy portfolio assets.

The strategy is suitable for investors who want to make medium-term investments (at least 5 years).

documentMonthly report

Real Value Strategy

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The objective of the strategy is to achieve moderate growth in the value of the assets invested that is attainable at a low level of risk. Assets are mainly invested in fixed income securities, including money markets, and 10% of assets, on the average, are invested in equity securities for diversification purposes and for improved return prospects. Depending on the market situation, for better achievement of the strategy’s objective, it is permitted to increase and reduce the weight of equity investments in the range of 0% to 20% of the strategy portfolio assets.

The strategy is suitable for investors who possess little financial market experience and who wish to hold the portfolio for at least 3 years.

documentMonthly report

Capital Preservation Strategy

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The objective of the strategy is to preserve the value of the assets, which is sought to be achieved through investments in fixed income securities in a diversified manner. Up to 100% of the strategy assets are invested in fixed income securities, including money market instruments.

The strategy is suitable for investors who want to avoid strong investment volatility within one year or over a longer period of time.

documentMonthly report

 
  1. Find out the most suitable investment strategy by filling out the questionnaire or booking an investment consultation.
  2. Learn more about the investment solution and the recommended strategy after filling out the questionnaire.
  3. Choose the preferred strategy and sign the contract.
  4. Review the concluded contract, make changes in the contract if necessary, and keep track of the investment performance via Internet Banking.

Good to know

Regular contributions are debited automatically from the current account specified in the contract. If the contract is concluded without fixed regularity of the contributions, contributions to the contract will need to be made manually.

Your contract will enter into force after receiving your first contribution of at least the minimum amount specified in the Price List.

Important! Due to the right of withdrawal provided for in legislation, investment units will be purchased after receiving the first contribution no sooner than after 30 days since the conclusion of the contract if it was entered into via Internet Banking (after 15 days if entered into at a Swedbank branch). For further details about the terms and the transaction procedure, see here.

Service Price, EUR / %
Receiving
Setting up the contract Free of charge
Using
Insurance premium fee Free of charge
Contract handling fee (per year) The Administrative fee is calculated as a percentage of the value of the Savings reserve. The contract handling fee is set as a rate per annum and depends on the investment strategy and amount of reserve.
The fee is withheld from the reserve once a month
The fee is not charged for insurance premiums for which investment units have not yet been purchased.
Conservative Strategy Real Value Strategy Balanced Strategy Growth Strategy Aggressive Growth Strategy
- Reserve < EUR 10 000 0.75% 1% 1% 1.25% 1.25%
- Reserve EUR 10 000 - 100 000 0.5% 0.75% 0.75% 1% 1%
- Reserve = > EUR 100 000 0.4% 0.5% 0.5% 0.75% 0.75%
Amendment of the contract Free of charge
Closing
Partial payout of the reserve or early termination of the contract: 0% - 0.5% 0.5% of the amount of the reserve to be paid out if the payout is requested within 5 years after the contract start date.
In other cases - free of charge.
The minimum reserve after partial withdrawal of the reserve is at least 300 EUR.
Sum limits
Minimum Insurance premium if premium payment schedule is agreed in the Contract 50 EUR per month
150 EUR per quarter
300 EUR per 6 months
600 EUR per year
Minimum first Insurance premium if premium payment schedule is not agreed in the Contract 1000 EUR
The minumum of Savings reserve after partial withdrawal 300 EUR Upon out-payment, partial withdrawal amount together with partial withdrawal fees can not exceed Savings rezerve.

documentGeneral Terms, Transaction Dates and Procedure

Effective from 04.01.2021.

You can

  • Make additional contributions.
  • Change the regularity of contributions.
  • Change the amount of contributions.
  • Change the investment strategy. Time after time it is worthwhile to review the chosen investment strategy. Does it still match your risk tolerance and expectations? One of the general rules to stick to is that the less time remains until the end of the time horizon of your investment, the less risks should be assumed (you should consider the possibility to switch to a lower-risk investment strategy). Apply for a consultation if necessary.
  • Change beneficial owner(s).
  • Make a partial payout. In case of requesting a partial payout of the accrual under contracts valid for less than 5 years, a fee according to the price list applies. Another consideration to note is that if you have received personal income tax refunds for the contributions under the contract, and the partial payout of the accrual has been made before at least 10 years have passed since it was signed (5 years if the contract was signed by 31.12.2017), you will have to pay back the tax refunds you received and in such a case no refund will be available for subsequent contributions.
  • Terminate the contract. For contracts valid for less than 5 years, a termination fee according to the price list applies. LV: If you have received personal income tax refunds for the contributions under the contract and the contract is terminated before at least 10 years have passed since it was signed (5 years if the contract was signed by 31.12.2017), then you will have to pay back the tax refunds you received.

The Private Portfolio is a unit-linked life insurance contract with accrual of funds. Before entering into the contract, please go to Swedbank’s Internet Banking site and review the contract documentation, including the key information documents, the terms and conditions, the short prospectus and the price list. The services are provided by Swedbank Life Insurance SE which is represented in Latvia by its Latvian branch and the agent Swedbank AS. The charts shown in the description and their explanatory texts are for information only. The figures used do not represent the actual results on financial markets. The insurer is unable to guarantee or predict financial market performance. The Private Portfolio is a unit-linked life insurance contract where the investment risk is borne by the policyholder.

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