Crédit Agricole launches Nordic sub fund
NORDIC– Crédit Agricole Asset Management has launched a new Nordic region sub-fund within its Luxembourg based fund range, Crédit Agricole Funds (CA-Funds), targeting international institutional investors and third party distributors.
Benchmarked against the FTSE Norex 30 and traded in Norwegian Krone, the CA-Funds Nordic will be managed by Paul Kondratieff from Paris. Crédit Agricole claims it is one of the few Nordic equity funds to be managed outside the region.
Says Kondratieff :”Investment in the Nordic region offers the advantages of world-class companies that are market leaders in their business. A wide range of smaller companies complement this.”
The CA-Funds range is domiciled in Luxembourg with net assets of US$3.1bn (€3.6bn). It is made up of 39 sub-funds and portfolios, of which 27 are equity based, nine fixed income and three reserve funds.
Crédit Agricole has €164.2bn in assets under management