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ESPA BOND FINANCIALSEuro fixed-interest security bonds, predominantly bank bonds, absolute return approachStatus at 07/30/2010
Investment featuresInvestment in financial sector bonds, absolute return approach
ESPA BOND FINANCIALS invests in the bonds of banks and other financial institutions, most of which are denominated in euro. Pursuing the trend-following approach of ERSTE-SPARINVEST, we actively manage the duration of the fund which may fluctuate within a range of 0 to 8 years. ESPA BOND FINANCIALS is an absolute-return fund. If foreign-exchange bonds are added to the portfolio mix, the exchange risk will be permanently and fully hedged against the euro. This fund is mainly used for own investments of banks and financial institutions.
This is an advertisement. Unless otherwise noted, data source ERSTE-SPARINVEST KAG. Our languages of communication are German and English. The latest version of the Prospectus (and any changes thereto) has been published in the “Amtsblatt zur Wiener Zeitung”, in accordance with the provisions of the Austrian Investmentfondsgesetz [Investment Funds Act]. Copies are available free of charge to interested parties at the registered offices of both ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. and Erste Group Bank AG (the custody bank). The most recent publication date and details of any other collection offices are published on the ERSTE-SPARINVEST KAG website (www.sparinvest.com). This document serves to provide additional information to our investors and reflects the knowledge of its authors at the time of going to press. Our analyses and conclusions are of a general nature and do not take into account the personal needs of our investors in terms of income, fiscal situation or attitude to risk. It should be noted that past performance is not a reliable indicator of the future performance of a fund.
Fund key data
Dividend20.12.
Base currencyEUR
Fund volume30,766,039.35
Fund accounting year01.10. to 30.09.
Day of first issue12/12/2007
Sales authorisationAT
Management fee0.60 % p.a.
Recommended holding periodII
Investor experienceB
Investor risk tolerance3
Contactansprechpartner@sparinvest.com
Share certificates
TypeISINCurrencyNet asset valueInitial charge
A.AT0000A07Y55 EUR110.553.50%
T.AT0000A07Y63 EUR116.733.50%
T.C.AT0000A07Y71 EUR116.733.50%
Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 07/30/2010)
Currency1 Year3 Years5 Years10 YearsBeginning of
the year *		Inception
EUR9.74   5.396.70
* absolute
Annual performance (in %, in fund base currency)
Year200720082009
Performance   0.10 3.04 9.12
Benefits for investorBank bonds offer an interest-rate advantage over comparable government bonds
High degree of security with issuers of very good and good ratings
Investment secured in EURO or foreign currencies
Absolute return approach to reduce interest-rate risks
Please noteRising interest rates may lead to short-term falls in prices.
Recommended length of holding at least 3-5 years.
Top positions
SecurityShare of fund assets
FORTIS BK 07/14 MTN2.65%
FORTIS BK N.10/15 MTN2.56%
DT.BANK MTN 07/171.88%
LLOYDS TSB BK 09/16 MTN1.81%
STAND.CHAR. 09/14 MTN1.81%
Fund ratios*
Average securities return3.25%
Average time to maturity4.08 Years
Duration3.48 Years
Mod. Duration3.38%
* Explanation of financial terms
Performance
Performance (incl. distribution of dividends) between 12/12/2007 and 07/30/2010
Min / Max performance
From adjusted net asset values between 12/12/2007 and 07/30/2010
Minimumin % p.a.Maximum
Regions
Securitytypes