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ESPA SELECT STOCKGlobal equities fund of funds in accordance with (regional) asset allocationStatus at 08/31/2010
Investment features
The ESPA SELECT STOCK fund invests both in its own and in other selected international equity funds in accordance with ERSTE-SPARINVESTs Asset Allocation. The fund is geared to the MSCI World Index. Up to 20% can also be invested in emerging markets funds. The funds are objectively selected according to region. To do this, we make use of external data bases and our own valuation and analysis resources. This fund is suitable for long-term asset growth. Foreign currencies can be hedged at up to 20%. In order to achieve a better diversification of risk, up to a maximum of 10% can also be invested in alternative investments.
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
Dividend31.08.
Base currencyEUR
Fund volume110,281,836.64
Fund accounting year01.07. to 30.06.
Day of first issue08/24/1998
Sales authorisationAT
Management fee1.20 % p.a.
Recommended holding periodIII
Investor experienceD - E
Investor risk tolerance8
Contactansprechpartner@sparinvest.com
Share certificates
TypeISINCurrencyNet asset valueInitial charge
A.AT0000A0CYS8 EUR6.033.50%
T.AT0000819057 EUR6.123.50%
T.C.AT0000817820 EUR6.123.50%
Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 08/31/2010)
Currency1 Year3 Years5 Years10 YearsBeginning of
the year *		Inception
EUR8.66-10.34-1.60-4.620.82-1.35
* absolute
Annual performance (in %, in fund base currency)
Year20052006200720082009
Performance 30.22 8.62 4.99 -44.43 27.57
Statistical data according to OeKB (3 years)
Sharpe ratio-0.61
Volatility (in %)20.94
Benefits for investorBroadly diversified investment in equity fund.
Tactical asset allocation for return- and risk optimization.
The fund can be bought and sold at any time.
Suitable for regular savings plans (capital plan).



Please noteEquity funds in the fund can be subject to considerable price volatility
Foreign currency fluctuations can affect the fund
Recommended length of holding at least 5 years (depending on market performance)
Top positions
SecurityShare of fund assets
XT USA USD T7.23%
XT EUROPA EURO7.12%
MAINFIRST-AVANT-GARDE S.C6.94%
UNINORDAMERIKA ANT.SCH.KL6.40%
DWS INVEST-EU.EQUS INH.FC5.66%
Performance
Performance (incl. distribution of dividends) between 08/24/1998 and 08/31/2010
Min / Max performance
From adjusted net asset values between 08/24/1998 and 08/31/2010
Minimumin % p.a.Maximum
Regions