Casam offers money market exposure with new ETF

Credit Agricole Structured Asset Management (Casam) has launched a new exchange-traded fund (ETF) linked to Eonia - the Euro Over Night Index Average, the rate of overnight unsecured lending between banks. The fund is listed on NYSE Euronext and achieves its returns by replicating the performance of the Euro MTS Eonia Investable Index.

Casam is mooting the fund, which is its first money market ETF, as a liquid means of protecting against volatility in fixed income and equity markets. Casam assures that the performance of the index will be positive except in the case of an extreme situation where money market rates become negative, which means it carries limited downside risk. The ETF is also compliant with the Undertakings for Collective Investments in Transferable Securities III Directive.

Management fees are fixed at 0.14%

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