ERSTE-SPARINVEST KAG

Fact sheet

ESPA VINIS STOCK EUROPE EMERGINGSustainability oriented equities from Central- and Eastern Europe

Status at 12/29/2011

Investment features
ESPA VINIS STOCK EUROPE EMERGING is an actively managed sustainability equity fund that invests in Central and Eastern Europe. It also includes Austrian equities with strong CEE exposure. The regional focus is on the new EU member states (Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Estonia, Latvia, Lithuania, Romania, Bulgaria), Russia and the former CIS states as well as potential EU candidates (e.g. Croatia and Turkey). In the selection of the investment universe, companies are filtered based on environmental, stakeholder and corporate governance criteria. On the basis of this investment universe, the fund’s management then constructs the portfolio according to economic criteria.

This is an advertisement. Unless specified otherwise, data source: ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. Our languages of communication are German and English. The latest versions of the Full Prospectus, Simplified Prospectus or Key Investor Document (and any changes thereto) have been published in the "Amtsblatt der Wiener Zeitung", in accordance with the provisions of the Investmentfondsgesetz 2011 (Austrian Investment Funds Act). Copies are available free of charge to interested parties at the registered offices of ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. and the depositary bank. The most recent publication date, information about language versions of the Simplified Prospectus or - if applicable of the Key Investor Document - and details of any other collection offices are published on the 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. This is not a personal recommendation. It should be noted that past performance is not a reliable indicator of the future performance of a fund.

Fund key data

Dividend	02.05.
Base currency	EUR
Fund volume	7,060,292.72
Fund accounting year	01.02. to 31.01.
Day of first issue	06/10/2008
Sales authorisation	AT,CH,DE
Management Fee	1.80 % p.a.
Recommended holding period	III
Investor experience	D - E
Investor risk tolerance	9
Contact	ansprechpartner@sparinvest.com

Share certificates

Type	ISIN	Currency	Net asset value	Initial charge
A.	AT0000A09YK5	EUR	60.79	5.00%
T.	AT0000A09YL3	EUR	62.13	5.00%
T.C.	AT0000A09YM1	EUR	62.13	5.00%
VT.	AT0000A0AUJ9	EUR	62.13	5.00%

Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 12/29/2011)

Currency	1 Year	3 Years	5 Years	10 Years	Beginning of the year ^*	Inception
EUR	-31.50	7.45			-31.50	-12.52

^* absolute

Annual performance (in %, in fund base currency)

Year		2008	2009	2010	2011
Performance		-49.88	55.19	16.66	-31.50

Statistical data according to OeKB (3 years)

Sharpe ratio	0.27
Volatility (in %)	24.27

Benefits for investorInvestment with “good conscience” and with the chance of high gains due to investment in an emerging region
broadly diversified investments in the entire CEE region even with small amounts
fund unit certificates can be sold any time
Suitable for regular savings plans (s Fonds Sparen)
Portfolio of separate assets

Please note- Equities may be subject to considerable price fluctuations
- Foreign currency fluctuations are not hedged against the euro and can lead to fluctuations of the fund assets.
- Recommended investment horizon: 5 years or longer (depending on the market environment)

Performance (brutto)

Performance (incl. distribution of dividends) between 06/10/2008 and 12/29/2011

Min / Max performance (brutto)

From adjusted net asset values between 06/10/2008 and 12/29/2011

Minimum

in % p.a.

Maximum

Stocks - Currencies