{"url":"https://nivawealth.com/firms/as-avaron-asset-management-282350","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/282350","regulatoryAum":401854297,"crd":"282350","history":[{"filedOn":"2021-03-19","regulatoryAum":371841620,"clients":6,"employees":19,"offices":1},{"filedOn":"2022-03-21","regulatoryAum":400878439,"clients":6,"employees":21,"offices":1},{"filedOn":"2023-03-13","regulatoryAum":154582113,"clients":5,"employees":17,"offices":1},{"filedOn":"2024-03-06","regulatoryAum":268959636,"clients":5,"employees":15,"offices":1},{"filedOn":"2025-02-28","regulatoryAum":219989237,"clients":4,"employees":16,"offices":1},{"filedOn":"2026-02-03","regulatoryAum":401854297,"clients":4,"employees":17,"offices":1}],"secFileNumber":"801-107104","legalName":"As Avaron Asset Management","displayName":"AS Avaron Asset Management","slug":"as-avaron-asset-management-282350","website":"https://avaron.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/282350/ebba22135bd2e5ba-r1.webp","tone":"light","width":1614,"height":200,"sourceUrl":"https://avaron.com/","sourceLabel":"AS Avaron Asset Management, website"},"classification":{"segment":"institutions","segmentLabel":"Institutional","type":"institutional_asset_manager","typeLabel":"Asset manager","feeDisclosure":"payment_only"},"founded":null,"organization":"limited liability company organized in Estonia","fiscalYearEnd":"December","headquarters":{"street":"Narva MNT 7d","city":"Tallinn","state":"","stateName":"","country":"Estonia","postalCode":"10117"},"tradeNames":[],"registration":{"secApproved":"20 January 2016","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":null,"staff":{"employees":17,"advisory":11,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":401854297,"discretionary":401854297,"discretionaryAccounts":4,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":100,"nonAumClients":0},"clientTypes":[{"label":"Other","clients":4,"regulatoryAum":401854297}],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[{"name":"Citibank Europe PLC, Luxembourg Branch","shortName":"Citibank Europe PLC, Luxembourg Branch","location":"Bertrange","smaAssets":47189446},{"name":"Swedbank As","shortName":"Swedbank As","location":"Tallinn","smaAssets":220894611},{"name":"Caceis Investor Services Bank S.a.","shortName":"Caceis Investor Services Bank S.a.","location":"Dublin","smaAssets":133770240}],"custodyNote":"AS Avaron Asset Management does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Valdur Jaht","title":"CIO, Board Member","crd":"6593872"},{"name":"Maris Jaht","title":"Director","crd":"6594009"},{"name":"Kristel Kivinurm-Priisalm","title":"CEO, COO, Board Member","crd":"6593866"},{"name":"Ingrid Korgema","title":"CCO","crd":"7256777"},{"name":"Rain Leesi","title":"Shareholder, Preferred Share, Director, Head of Research","crd":"6775957"},{"name":"Reino Pent","title":"Shareholder, Preferred Share, Senior Analyst","crd":"6750184"},{"name":"Peter Priisalm","title":"CIO, Director","crd":"6593869"},{"name":"Piotr Jurga","title":"Shareholder, Preferred Share, Senior Analyst","crd":"6750185"}],"ownership":[{"label":"Ou Princo","detail":"Shareholder, common share in the 50% to 75% ownership band and a control person, since January 2024."},{"label":"Piotr Jurga","detail":"Shareholder, preferred share, senior analyst in the 5% to 10% ownership band, since December 2016."},{"label":"Rain Leesi","detail":"Shareholder, preferred share, director, head of research in the 5% to 10% ownership band, since December 2016."},{"label":"Ou Venatio","detail":"Shareholder, common share in the 25% to 50% ownership band and a control person, since January 2024."},{"label":"Kristel Kivinurm-Priisalm","detail":"Indirect owner: a shareholder of Ou Princo in the 25% to 50% band and a control person, since March 2004.","parent":"Ou Princo"},{"label":"Peter Priisalm","detail":"Indirect owner: a shareholder of Ou Princo in the 25% to 50% band and a control person, since March 2004.","parent":"Ou Princo"},{"label":"Valdur Jaht","detail":"Indirect owner: shareholder of Ou Venatio and a control person, since July 2005.","parent":"Ou Venatio"},{"label":"Maris Jaht","detail":"Indirect owner: shareholder of Ou Venatio and a control person, since August 2014.","parent":"Ou Venatio"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"372-664-4205","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees"],"activities":["Portfolio management for pooled investment vehicles (other than investment companies)","Other"],"financialPlanningClients":null,"assetMix":[{"label":"Exchange-traded equity securities","percent":88},{"label":"Non-investment grade corporate bonds","percent":7},{"label":"Securities issued by registered investment companies or business development companies","percent":1},{"label":"Cash and cash equivalents","percent":4}],"privateFunds":0},"sources":{"adv1FilingDate":"3 February 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/282350/PDF/282350.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-21","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does AS Avaron Asset Management have?","answer":"AS Avaron Asset Management has 4 clients and manages $402 million for them, as of February 2026. They include 4 other clients.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 3 February 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does AS Avaron Asset Management offer?","answer":"AS Avaron Asset Management provides portfolio management for pooled vehicles.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does AS Avaron Asset Management use?","answer":"AS Avaron Asset Management’s separately managed account assets are held at Swedbank As (Tallinn), with $221M, Caceis Investor Services Bank S.a. (Dublin), with $134M and Citibank Europe PLC, Luxembourg Branch (Bertrange), with $47.2M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 February 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does AS Avaron Asset Management have?","answer":"AS Avaron Asset Management has 0 investment adviser representatives registered with state securities authorities, out of 17 employees, and 11 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does AS Avaron Asset Management invest in?","answer":"At the end of its last fiscal year, AS Avaron Asset Management’s separately managed accounts held 88% exchange-traded equities, 7% high-yield corporate bonds, 4% cash and equivalents and 1% registered funds (mutual funds, ETFs, BDCs).","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns AS Avaron Asset Management?","answer":"AS Avaron Asset Management is owned through holding companies by Kristel Kivinurm-Priisalm and Peter Priisalm. Its direct owners are Ou Princo (50% to 75%), Piotr Jurga (5% to 10%), Rain Leesi (5% to 10%) and Ou Venatio (25% to 50%).","source":"Form ADV Part 1A, Schedules A and B, filed 3 February 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does AS Avaron Asset Management get paid?","answer":"AS Avaron Asset Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact AS Avaron Asset Management?","answer":"AS Avaron Asset Management’s main office is at Narva MNT 7d, Tallinn, Estonia 10117. Its phone number is 372-664-4205. Its website is avaron.com.","source":"Form ADV Part 1A, Item 1.F, filed 3 February 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}