Asset management company Citadele has won a top financial award to confirm its status as a regional investment leader.

The Citadele Eastern European Bond Fund-USD took the Lipper Fund Award 2012 for the best consistent, risk-adjusted performance over three years in the Emerging Europe Bond Fund category.

The fund had a net return of 97.6% during the period.

Andris Kotans, the manager of the Citadele Eastern European Bond Fund, said:  “This award reaffirms the status of Citadele Asset Management as a regional industry leader and as a provider of world-class investment management services.”

A subsidiary of Thomson Reuters, Lipper is one of the leading international providers of mutual fund research, rankings, and data. Its awards are considered among the most prestigious in the finance industry.