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ESPA PORTFOLIO BALANCED 30Balanced fund, up to 30% equities, absolute return approach Status at 08/31/2010
Investment featuresA good fund for achieving regular returns from bonds as well as asset gains from equity investments.
ESPA PORTFOLIO BALANCED 30 is an absolute-return fund and invests 0-30% in equity funds and 70-100% in bond funds. The tactical asset allocation in equities and bonds is optimised based on the risk and return structure. In the process, we allocate up to 10% to alternative investment strategies and property share funds. Foreign currencies are usually hedged. The fund is eligible as security cover for Austrian pension reserves (sec 14 of the Austrian Income Tax Act in connection with sec 25 of the Austrian Pension Fund Act) and is part of the preferential assets as laid down by the Austrian Act on the Support of SMEs. The investment process of the fund follows an absolute return strategy since 18th Aug 2008.
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
Dividend15.12.
Base currencyEUR
Fund volume225,286,756.86
Fund accounting year01.11. to 31.10.
Day of first issue05/04/1998
Sales authorisationAT,DE
Management fee0.90 % p.a.
Recommended holding periodIII
Investor experienceC - D
Investor risk tolerance4
Contactansprechpartner@sparinvest.com
Share certificates
TypeISINCurrencyNet asset valueInitial charge
A.AT0000802491 EUR55.533.50%
T.AT0000A09R60 EUR60.173.50%
T.C.AT0000A09R78 EUR60.173.50%
VT.AT0000A09R86 EUR60.853.50%
Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 08/31/2010)
Currency1 Year3 Years5 Years10 YearsBeginning of
the year *		Inception
EUR5.901.872.381.853.472.29
* absolute
Annual performance (in %, in fund base currency)
Year20052006200720082009
Performance 12.23 2.71 0.77 -5.36 7.45
Statistical data according to OeKB (3 years)
Sharpe ratio-0.12
Volatility (in %)4.56
Benefits for investorAbsolute Return investment fund with variable asset structure (Equities 0%-30%).
Tactical asset allocation for return- and risk optimization.
Suitable for covering severance payment and pension provisions.
Buying or selling is possible at any time on the actual issue/redemption price.
Suitable for capital plan.

Please noteFund equities can sometimes fluctuate sharply
Foreign currency fluctuations can affect the fund
Rising interest rates may lead to short-term falls in the bond prices
Recommended length of holding at least 3 - 5 years
Top positions
SecurityShare of fund assets
ESPA BD EURO-TREND T18.06%
ESPA BOND EURO-RENT T18.03%
ESPA BOND COMBIRENT THES.18.02%
ESPA BOND EUR-HIGH YIEL.T7.13%
XT EUROPA EURO5.70%
Performance
Performance (incl. distribution of dividends) between 05/04/1998 and 08/31/2010
Min / Max performance
From adjusted net asset values between 05/04/1998 and 08/31/2010
Minimumin % p.a.Maximum
Stocks - Countries
Breakdown of Assets