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ESPA SELECT CASHEuro money market fund of funds with ESPA money market fundStatus at 08/31/2010
Investment featuresThe ESPA SELECT CASH fund is the optimum alternative for investors who wish to achieve higher returns than those gained from comparable money market investments and/or from federal treasury certificates.
The aim is to achieve higher returns by exploiting the difference in interest rate between the 3-month Euribor and short-term bonds. Corporates (corporate bonds) and mortgages (US mortgage bonds) are also included to improve the return. Sub fund investments are made predominantly with issuers with a good to excellent rating.
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
Dividend01.09.
Base currencyEUR
Fund volume159,450,640.88
Fund accounting year01.06. to 31.05.
Day of first issue10/28/2002
Sales authorisationAT
Management fee0.28 % p.a.
Recommended holding periodI
Investor experienceA - B
Investor risk tolerance2
Contactansprechpartner@sparinvest.com
Share certificates
TypeISINCurrencyNet asset valueInitial charge
A.AT0000660626 EUR95.980.75%
T.AT0000660634 EUR116.000.75%
T.C.AT0000660642 EUR116.000.75%
Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 08/31/2010)
Currency1 Year3 Years5 Years10 YearsBeginning of
the year *		Inception
EUR3.302.472.47 2.012.68
* absolute
Annual performance (in %, in fund base currency)
Year20052006200720082009
Performance 2.49 2.41 3.12 -1.03 5.57
Statistical data according to OeKB (3 years)
Sharpe ratio0.04
Volatility (in %)1.70
Benefits for investorBroad diversification in various near-money market investment segments.
Possible admixture of higher yielding bond classes.
Active steering of asset classes and maturities.
Low price risk due to low risk of interest rate change (duration).

Please notePrice volatility may result from the inclusion of corporate bonds
Recommended length of holding at least 1 - 3 years
Top positions
SecurityShare of fund assets
ESPA CASH EURO-PLUS T31.67%
ESPA CASH CORP. PLUS T28.15%
ESPA CASH EURO T18.80%
ESPA BOND EURO-MIDTERM_T8.86%
ESPA BOND EURO-CORP. T7.19%
Fund ratios*
Average securities return1.71%
Average time to maturity2.10 Years
Duration1.05 Years
Mod. Duration1.03%
* Explanation of financial terms
Performance
Performance (incl. distribution of dividends) between 10/28/2002 and 08/31/2010
Min / Max performance
From adjusted net asset values between 10/28/2002 and 08/31/2010
Minimumin % p.a.Maximum