DZU Ilirika assumes management of Erste investment funds

The investment funds management company (DZU) Ilirika has taken over funds Erste Euro Balanced 35, Erste Cash and Erste Euro Cash. With this acquisition, which was previously approved by the Securities Commission, DZU Ilirika has become the company that manages the largest number of investment funds in Serbia.

By managing 11 funds, DZU Ilirika has increased its market share to over 30 percent. Upon the acquisition, DZU Ilirika manages financial assets worth nearly RSD 700 million (about EUR 7 million), about 350 million dinars of which is the value of the property of former Erste funds. Total value of the property of all open-ended investment funds in Serbia is approximately RSD 2 billion.

Takeover of Erste investment funds is Ilirika DZU's fourt acquisition since June 2011, when it first buy two investment funds from Delta, then one fund from Fima, and then three Citadel investment funds in 2012. At this moment, the only players on the investment funds market are DZU Iliriika, DZU Fima invest, Kombank Invest, and Raiffeisen Invest.