Croatia’s Erste Asset Management launches Erste Money Market USD

The fund is designed for individuals and companies with a shorter investment horizon, which have funds on their accounts in US dollars, Erste Asset Management said in a statement.

The assets of the fund will be invested predominantly in money market instruments, deposits and reverse repo contracts, with a focus on U.S. Treasury bills and deposits in US dollars at the largest Croatian banks.

The minimum investment is $50 (46.52 euro). The recommended duration of investment is six months.

Erste Asset Management runs 18 open investment funds, one alternative investment fund and individual portfolios. It had 405 million euro worth of assets under management at the end of April.

($ = 0.930 euro)