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ZAGREB (Croatia), January 11 (SeeNews) - Zagreb-based Erste Asset Management, a member of Erste Bank Group, said on Wednesday it has founded two new bond funds, intended for all individuals and companies willing to invest in short-term debt securities and other financial instruments.
The difference between the two new funds is their accounting currency, namely the Erste Local Short Term Bond is in kuna, while the Erste Adriatic Short Term Bond is denominated in euro, Erste Asset Management said in a statement.
Erste Short Term Bond Funds are favorably located between cash and bond funds. Their advantages are reflected primarily in a potentially higher yield than money market funds, a short-term investment horizon and a lower level of risk, Erste Asset Management explained.
As of January 10, 2017, Erste Asset Management managed a total of 5.03 billion kuna ($699.8 million/665.7 million euro) in assets relating to the management of private portfolios, nine open-end funds (Erste Money, Erste Euro-Money, Erste Local Short Term Bond, Erste Adriatic Short Term Bond, Erste Adriatic Bond, Erste Adriatic Equity, You Invest Solid, You Invest Balanced, You Invest Active) and two alternative investment funds (Erste Exclusive and Erste PB1).
(1 euro= 7.55645 kuna)