Erste Asset Management d.o.o. Croatia

What Erste Asset Management d.o.o. Croatia does

Erste Asset Management d.o.o. Croatia is a Zagreb-based investment fund management company, founded in 1998 and wholly owned by Erste Asset Management GmbH of Austria. It operates under Croatian operating licence (Class UP/I-450-08/00-01/118) issued by HANFA, the Croatian Financial Services Supervisory Agency, and is authorized to manage both UCITS open-ended investment funds with public offering and Alternative Investment Funds (AIFM). The entity functions as the Croatian arm of the broader Erste Asset Management group, which traces its origins to 1965 and manages approximately EUR 100.08 billion in assets (October 2025) across seven Central and Eastern European markets: Austria, Germany, Croatia, Romania, Slovakia, the Czech Republic, and Hungary.

The company offers a diversified product set including equity funds, bond funds, short-term bond funds, mixed funds, and the ERSTE MONEY MARKET USD fund, alongside private portfolio management, investment advisory, and systematic monthly investment plans starting from EUR 25. The most recent product, Erste Horizont 2028 III, is a defined-term UCITS sub-fund of approximately two years and four months investing primarily in EU member state debt securities, with initial offering completed in June 2026. Products are categorized under EU SFDR (Articles 6, 8, 9) and consider EU Taxonomy criteria, embedding sustainable finance compliance into fund design.

Distribution is hybrid and leverages the captive Erste Group infrastructure: physical subscription and personal consultation occur through Erste Bank branches across Croatia, while digital self-service is available through the George platform (George Store) and Netbanking. Direct subscription at the company office and email-based requests for legal entities round out the channel mix. The firm employs 18 staff locally and is led by a three-member management board (Josip Glavaš, Snježana Šalković Dasović, Nicolaus Bauer) under a supervisory board chaired by Heinz Bednar. Revenue is generated through recurring management fees on AUM across UCITS and alternative funds, with no standalone revenue disclosed for the Croatian entity.

Name

Erste Asset Management d.o.o. Croatia

Legal name

Erste Asset Management d.o.o. za upravljanje investicijskim fondovima

Website

https://erste-am.hr

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

Croatian subsidiary of Erste Asset Management (Austria) managing UCITS and alternative investment funds, distributed through Erste Bank branches and the George digital platform to retail and institutional investors in Croatia.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Open-End Investment Funds (52591)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Asset Mutual Funds & UCITS (Balanced/Allocation Funds) (FSAAAJAA)

akta.pro secondary industry

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

Keywords

• Investment fund management
• UCITS fund administration
• Asset management services
• Portfolio management advisory
• Open-ended investment funds

Headquarters

HQ city

Zagreb

HQ country

Croatia

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment fund management fees: Management fees charged on assets under management across UCITS and alternative investment funds including equity, bond, mixed, and money market funds
2. Private portfolio management: Individualized portfolio management services for high-net-worth and institutional clients
3. Investment advisory services: Investment consulting services provided to clients

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Erste Asset Management d.o.o. Croatia manages and distributes UCITS-compliant open-ended investment funds (equity, bond, short-term bond, mixed, and money market funds) and offers private portfolio management and investment advisory services. The company is supervised by HANFA, authorized to manage both UCITS and alternative investment funds, and distributes its offerings through Erste Bank branches, the George digital platform, and Netbanking.

Product overview

Erste Asset Management d.o.o. Croatia operates as an investment fund management company offering a comprehensive portfolio of UCITS investment funds and related services. The core product offering includes equity funds, bond funds (including short-term variants), and mixed funds, along with the ERSTE MONEY MARKET USD fund targeting USD money market returns. The company provides individual portfolio management services, investment advisory, and systematic investment plans with minimum monthly contributions of 25 EUR. Funds are available through Erste Bank branches, George digital banking platform, and Netbanking. The company recently launched Erste Horizont 2028 III, a time-limited sub-fund investing in EU government debt securities.

Differentiator

Problem solved

Functional benefit

Brands

• ERSTE MONEY MARKET USD: A money market open-ended investment fund with public offer (UCITS) that aims to preserve the value of investments and achieve returns in line with the US dollar money market rate. Denominated in USD with minimum investment from USD 50.
• Erste Horizont 2028 III

Products and services

• ERSTE MONEY MARKET USD UCITS-compliant open-ended money market investment fund that aims to preserve the value of investments and generate returns in line with USD money market rates. Invests in money market instruments, deposits, and reverse repo agreements focused on US treasury bills. Available to retail and institutional investors.
• Erste Horizont 2028 III UCITS sub-fund of the Erste Asset Management umbrella fund, established for approximately two years and four months, that primarily invests in debt securities and money market instruments issued by EU member states. Targeted at investors seeking fixed-income exposure to EU sovereigns over a defined horizon.
• Equity Funds UCITS investment funds that invest primarily in stocks and/or equity funds, offering investors exposure to global markets, specific countries, regions, or economic sectors. Targeted at retail and institutional investors seeking capital growth.
• Bond Funds UCITS investment funds that invest exclusively in debt securities or other bond funds, providing return stability through bond coupons and issuer repayment at maturity. Targeted at investors seeking income and lower-volatility fixed-income exposure.
• Short-term Bond Funds UCITS bond funds that invest in short-term debt securities and money market instruments with shorter maturity profiles, typically yielding more than pure money market funds while preserving higher capital stability.
• Mixed Funds UCITS investment funds that diversify across multiple asset classes such as equities and bonds, optimizing the growth potential of equities against the lower risk profile of bonds. Targeted at investors seeking balanced risk/return exposure.
• Private Portfolio Management Customized individual portfolio management service for private clients (including high-net-worth individuals), providing tailored investment solutions managed by Erste Asset Management's investment professionals under Croatian regulatory authorization.
• Investment Advisory Professional investment consulting service providing clients with advice on fund selection and portfolio strategy, offered by Erste Asset Management to support informed investment decisions.
• Investment Plans (Sistematska ulaganja) Systematic investment plans that allow clients to invest regular monthly amounts starting from 25 EUR via standing order, enabling gradual capital building through automated contributions to Erste Asset Management funds.

Quantifiable outcome

• Assets under management of 100.08 billion EUR
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Erste Group Bank AGcoreChannel Partner/ Reseller/ DistributorErste Group Bank AG is the parent of Erste Asset Management and provides the distribution network through Erste Bank branches across 7 countries for fund distribution.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Allianz Invest d.o.o. Croatian asset management entity of Allianz Group. Comparable as a UCITS fund manager supervised by HANFA with similar retail-facing product suite, serving as a benchmark for global-insurer-owned local AM entities.
• ZB Invest d.o.o. Croatian investment fund management company owned by Zagrebačka banka (UniCredit Group). Directly comparable: same country, same UCITS/AIFM license regime under HANFA, bank-channel distribution model, similar retail and institutional target segments.
• OTP Invest d.o.o. Croatian asset management arm of OTP Bank (Hungary). Direct peer — banking-group-affiliated UCITS manager in Croatia with similar product range and branch-based distribution.
• InterCapital Asset Management d.o.o. Independent Croatian asset manager offering UCITS funds and discretionary portfolio management. Comparable in product scope and target segments; differs in being independent rather than bank-owned, providing a useful benchmark for distribution-leverage value.
• Raiffeisen Invest d.o.o. Croatian asset management subsidiary of Raiffeisenbank Austria. Direct peer — same UCITS framework, same banking-group distribution approach, similar product mix (equity, bond, mixed, money market funds) targeting retail investors through bank branches.

Broad incumbents

• BlackRock (iShares): Global asset manager dominant in passive ETFs. Comparable as a competitor whose iShares products are increasingly accessible to Croatian retail investors through online brokers, defining the passive-shift headwind the subject entity faces.
• Amundi Asset Management: Europe's largest asset manager. Comparable as a pan-European UCITS platform that competes for cross-border fund flows into Croatia; useful for understanding competitive pressure from large, low-cost incumbents.
• Erste Asset Management GmbH: Austrian parent entity managing EUR 100+ billion across 7 CEE countries. The Croatian entity is its subsidiary — comparable as the broader group that defines the product platform, governance model, and AUM scale the local entity sits within.

Regional players

• NLB Skladi d.o.o. Slovenian asset manager within NLB Group, one of the largest in Slovenia. Comparable as a CEE bank-affiliated UCITS manager with branch distribution; differs by geography but highly relevant for benchmarking product and fee economics in adjacent markets.
• Addiko Bank Invest: Croatian banking group (formerly Hypo) with related investment product offerings. Comparable as a regional bank-affiliated investment-product distributor; serves as a benchmark for bank-channel-led fund distribution economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/erste-am.hr

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Erste Asset Management d.o.o. Croatia