The Fund’s investment objective is to maintain and increase the value of assets by investing in various financial instruments such as debt securities issued by the Republic of Croatia, EU and OECD member states, and also in investment funds, financial institution deposits and, to a lesser degree, shares.
The Fund may invest:
- without restrictions, in debt securities issued by the Republic of Croatia, the Croatian National Bank and those guaranteed by the Republic of Croatia,
- up to 40%, in debt securities that are traded on stock exchanges or other regulated and organised markets in the Republic of Croatia, EU and OECD member states,
- up to 40%, in equity securities that are traded on stock exchanges or other regulated and organised markets in the Republic of Croatia, EU and OECD member states,
- up to 25%, in investment funds registered in the Republic of Croatia and EU member states,
- up to 10%, in investment funds registered in OECD member states,
- without restrictions, in money market instruments and financial institution deposits, but not more than 10% of the total assets of the Fund in a single financial institution, provided that this amount does not exceed 5% of the regulatory capital of that financial institution,
- up to 20%, in repurchase (repo) agreements, other than repurchase agreements with government securities or debt securities unconditionally guaranteed by the Republic of Croatia, where no restrictions apply,
- in options and futures, but exclusively to secure the Fund’s receivables and assets.
When investing in debt securities, the Fund shall not invest in securities if the issuers’ credit rating is below the investment rating or the applicable credit rating of the Republic of Croatia, if this is lower than the investment rating.
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