- 3 min
Paris, March 31st, 2009 - Crédit Agricole Structured Asset Management (CASAM) continues the development of its Exchange Traded Fund (ETF) range with the launch of CASAM ETF EONIA (Euro Over Night Index Average), the first money market ETF to be issued by CASAM.
Listed on Euronext, CASAM ETF EONIA combines the advantages of a money market fund with the liquidity of an equity. With 100% 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.
CASAM ETF EONIA's annual management fees of 0.14% maximum (including taxes) are, at the time of launch, the lowest among money market ETFs quoted on NYSE Euronext.
CASAM ETF EONIA 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” comments Valérie Baudson, Managing Director of CASAM ETF”
Scott Ebner, Senior Vice President, European Exchange Traded Products of NYSE Euronext, states “CASAM ETF EONIA offers investors a flexible and efficient product for accessing money markets and for managing asset allocation.”
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.
*The performance of this index will be positive except in the extreme situation where money market rates may become negative.