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Financial statements

15 Cash and cash equivalents

 

2018

2017

Bank deposits

20,000

100,000

Bank balances

24,976

75,310

Balance as at 31 December

44,976

175,310

The bank balances of € 25.0 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, in 2018 the Fund used 30-day bank deposits. The bank deposits of € 20 million have a 30-day notice period.

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