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ESPA BOND MORTGAGEUS mortgage bonds with an excellent rating and complete currency hedging in eurosStatus at 08/31/2010
Investment featuresAchievement of higher returns than from comparable government bonds, made possible through investments in top-rated US mortgage bonds (Ginnie Mae) backed by the US government and with permanent, complete exchange rate hedging.
ESPA BOND MORTGAGE offers a secure investment opportunity in international mortgage bonds. Capital is predominantly invested in top-rated US mortgage bonds (Ginnie Mae) backed by the US government. The exchange rate is permanently and fully hedged.
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
Dividend01.08.
Base currencyEUR
Fund volume76,618,960.62
Fund accounting year01.05. to 30.04.
Day of first issue10/15/2001
Sales authorisationAT,CZ,DE,IT
Management fee0.60 % p.a.
Recommended holding periodII
Investor experienceA - B
Investor risk tolerance3
Contactansprechpartner@sparinvest.com
Share certificates
TypeISINCurrencyNet asset valueInitial charge
A.AT0000700778 EUR100.103.50%
T.AT0000700786 EUR137.673.50%
T.C.AT0000700794 EUR137.673.50%
VT.AT0000658984 EUR150.723.50%
Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 08/31/2010)
Currency1 Year3 Years5 Years10 YearsBeginning of
the year *		Inception
EUR7.257.745.21 5.734.81
* absolute
Annual performance (in %, in fund base currency)
Year20052006200720082009
Performance 1.92 1.52 3.94 9.13 5.96
Statistical data according to OeKB (3 years)
Sharpe ratio1.32
Volatility (in %)4.04
Benefits for investorBacked by the US government.
Investment in US mortgage bonds without currency risk.
Addition to bonds portfolio.
Please noteThe fund's performance is highly influenced by the performance of US-yields.
Rising 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
GNMA 2039 POOL 70186110.29%
GNMA 2036 POOL 0038896.32%
GNMA 2034 POOL 0034996.22%
GNMA 2033 POOL 6154124.22%
GNMA 2033 POOL 6041694.07%
Fund ratios*
Average securities return2.42%
Average time to maturity3.21 Years
Duration2.98 Years
Mod. Duration2.94%
* Explanation of financial terms
Performance
Performance (incl. distribution of dividends) between 10/15/2001 and 08/31/2010
Min / Max performance
From adjusted net asset values between 10/15/2001 and 08/31/2010
Minimumin % p.a.Maximum
Coupon
Securitytypes