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ESPA CASH FORINTNear money market fund in Hungarian Forint without currency hedgingStatus at 08/31/2010
Investment features
The ESPA CASH FORINT invests in near money market government and financial securities in the Hungarian Forint (HUF) which now offers the prospect of a higher return than in the Eurozone. Currency risk is not 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
Dividend01.11.
Base currencyEUR
Fund volume3,908,255.48
Fund accounting year01.08. to 31.07.
Day of first issue11/22/2004
Sales authorisationAT
Management fee0.96 % p.a.
Recommended holding periodI
Investor experienceC - D
Investor risk tolerance4
Contactansprechpartner@sparinvest.com
Share certificates
TypeISINCurrencyNet asset valueInitial charge
A.AT0000613559 EUR88.590.75%
A.AT0000613583 HUF25,156.270.75%
T.AT0000613567 EUR114.190.75%
T.AT0000613591 HUF32,427.990.75%
T.C.AT0000613575 EUR114.190.75%
VT.AT0000A05D03 HUF34,922.540.75%
VT.AT0000494869 CZK3,053.220.75%
Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 08/31/2010)
Currency1 Year3 Years5 Years10 YearsBeginning of
the year *		Inception
EUR2.822.762.68 -0.183.63
HUF7.556.535.78 3.926.20
CZK0.57-0.85-0.87 -5.97-0.86
* absolute
Annual performance (in %, in fund base currency)
Year20052006200720082009
Performance 4.00 4.72 5.94 -2.25 8.55
Statistical data according to OeKB (3 years)
Sharpe ratio0.03
Volatility (in %)13.24
Benefits for investorAttractive short-term investment in Hungarian Forint (HUF)
Interest rate in Hungary is well above that of the Eurozone
Profit from gains in the Hungarian Forint
Taxed-at-source fund
No foreign exchange commission
Please noteExchange rate fluctuations between HUF and Euros can affect the return for the Euro investor
Recommended length of holding at least 1 year
Top positions
SecurityShare of fund assets
HUNGARY 06-12 12/B27.77%
HUNGARY 29.09.2010 ZO17.93%
HUNGARY 15.12.2010 ZO15.07%
HUNGARY 07-12 12/C11.00%
HUNGARY 13.10.2010 ZO8.94%
Fund ratios*
Average securities return7.04%
Average time to maturity0.40 Year
Duration0.39 Year
Mod. Duration0.36%
* Explanation of financial terms
Performance
Performance (incl. distribution of dividends) between 11/22/2004 and 08/31/2010
Min / Max performance
From adjusted net asset values between 11/22/2004 and 08/31/2010
Minimumin % p.a.Maximum
Bonds - Issuers