March 11 (SeeNews) – Croatia’s Erste Asset Management, a unit of Austrian banking group Erste, said on Monday that it launched last week a new fund, Erste Money Market.
The assets of the fund, designed for individuals and companies with an investment horizon of up to six months, will be invested predominantly in money market instruments, deposits and reverse repo contracts, with a focus on treasury bills of issuers from Croatia, other member states of the European Union, the Organisation for Economic Co-operation and Development and the Central European Free Trade Agreement, Erste Asset Management said in a statement on its website.
The minimum investment is 50 euro ($54.60).
Erste Asset Management runs 17 open investment funds, one alternative investment fund and individual portfolios. It had 332 million euro worth of assets under management at the end of February.
($ = 0.916 euro)
