How to invest money in Croatia (indices SETX and CROBEX)

Croatia will join EU probably in 2009. It is indicating also nice average salary (USD 9597 p.a.) which is even above median in EU newcomers. Economy of country with 4.4 mil people grew last year 4.6% with with low CPI 3.2%. Growth 4.7% is expected for 2007. As for other non-EU countries there are not ETF dedicated only for one country and therefore the best way how to trade Croatian index is with investment certificates.

(more details on http://stockweb.blogspot.com)

Open end S-BOX Kroatien-Index (ISIN AT0000A04P9I) issued by Erste Bank is underlaying 10 biggest companies. But diversification is low as 3 major caps (Privredna Banka Zagreb, Adris, Ina Industrija Nafte) having 60% of Croatian index SETX. Wider Croatian index CROBEX includes 30 companies with max weight 0f 20% for one holding. You can invest to CROBEX with open end certificate from ABN Ambro (ISIN DE000AA0F677).

I also wrote two posts about Croatian GDR traded on London Stock Exchange. http://stockweb.blogspot.com/2007/06/how-to-invest-money-in-croatia-ina.html
http://stockweb.blogspot.com/2007/06/2how-to-invest-money-in-croatia-pliva.html
With those GDR you can invest directly to two Croatia blue chips (pharmaceutical Pliva and oil & gas producer Ina Industrija Nafte)