Crédit Agricole Structured Asset Management has launched the Casam ETF Eonia (Euro Over Night Index Average), the first money market exchange-traded fund to be issued by the firm
Crédit Agricole Structured Asset Management has launched the Casam ETF Eonia (Euro Over Night Index Average), the first money market exchange-traded fund to be issued by the firm.
Listed on Euronext, Casam ETF Eonia combines the advantages of a money market fund with the liquidity of an equity.
The firm says that with 100 per cent exposure to the Euro money market rate, it constitutes a transparent and efficient investment vehicle to help reduce the risk of capital loss. It is also a simple tool for placing cash over the medium-term and protecting a portfolio against fluctuations in fixed income and equity markets.
The annual management fee is 0.14 per cent maximum, including taxes.
The product replicates as closely as possible the performance of the EuroMTS Eonia Investable Index, net interest reinvested, in Euros. The Eonia is the overnight reference rate applied to unsecured interbank lending in the Euro zone.
‘The launch of Casam ETF Eonia marks a turning point in the development of the range which will now be diversified by introducing other asset classes’ says Valérie Baudson, managing director of Casam ETF (pictured).
The Casam ETF range now comprises 36 products and is distributed by a dedicated sales team at CA Cheuvreux as well as through the sales network of Crédit Agricole Asset Management.
