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Financial statements

16 Cash and cash equivalents

 

2018

2017

Bank deposits

-

5,000

Bank balances

16,870

35,424

Balance as at 31 December

16,870

40,424

The bank balances of € 16.9 million are freely available to the Fund as at 31 December 2018. In order to minimalise the costs of the negative interest rate on the bank balances, during 2018 the Fund used 30-day bank deposits.

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