Erste Asset Management registered two funds in Montenegro
Zagreb, May 23 2018 - Erste Asset Management Ltd registered its two funds in Montenegro - Erste Adriatic Bond and You Invest Balanced and became the first investment fund management Company on the Croatian market that expanded its business out of borders of the Republic of Croatia. On 16th of May 2018, the Commission for the Capital Market in Montenegro issued approval for trading of fund units for these funds. Citizens of Montenegro will be able to invest in funds through the business network of Erste Bank AD Podgorica.
"Through its own long-standing business, Erste Asset Management has demonstrated its success with all market challenges. We are pleased that we are on the 20th anniversary of our existence, which we celebrate this year, offering our services outside the borders of Croatia. By registering funds Erste Adriatic Bond and You Invest Balanced in Montenegro, we further confirmed the position of Erste Asset Management as one of the leading investment fund management companies in our country, but also throughout Southeast Europe ", emphasized Josip Glavaš, President of Management Board.
Erste Asset Management currently manages assets of over 5.12 billion HRK in UCITS funds and a private portfolio management. Erste Adriatic Bond, which is offered on the Montenegrin market, is currently the largest fund in Croatia with assets above 2.33 billion HRK. It is intended for more conservative investors, legal or private entities, with a view to achieving an appropriate return on investment in the recommended period of at least two years, with a moderate level of risk. Adriatic Bond mainly invests in debt securities and money market instruments in the territory of the Republic of Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, Macedonia, Albania, Romania, Hungary and Bulgaria.
The second offered fund - You Invest Balanced is a balanced fund intended for private and legal clients with an investment horizon longer than three years and those who are willing to accept a moderate level of risk with an aim of making a return on invested funds. The objective of You Invest Balance is to increase the value of the Fund’s share by investing the Fund's assets in other investment funds (minimum 60%), debt and equity securities, money market instruments and deposits in accordance with the legal and investment restrictions specified in the Fund Prospectus.