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ESPA ALTERNATIVE EMERGING-MARKETSAlternative investment in emerging marketsStatus at 08/31/2010
Investment features
The ESPA ALTERNATIVE EMERGING-MARKETS fund follows an alternative investment approach with a focus on "absolute return". The fund invests worldwide in "emerging markets". Investments are usually made by using futures-contracts. Based on trend-indicators and technical models the relative attractiveness of the markets in question are evaluated on a regular basis. The fund can benefit from both, rising markets ("long positions") and falling markets ("short positions") by using derivative instruments.
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
Dividend02.05.
Base currencyEUR
Fund volume4,416,805.46
Fund accounting year01.02. to 31.01.
Day of first issue06/01/2005
Sales authorisationAT,IT
Management fee1.80 % p.a.
Recommended holding periodIII
Investor experienceD - E
Investor risk tolerance9
Contactansprechpartner@sparinvest.com
Share certificates
TypeISINCurrencyNet asset valueInitial charge
A.AT0000495221 EUR116.335.00%
T.AT0000495239 EUR136.565.00%
T.C.AT0000495759 EUR136.565.00%
VT.AT0000500616 CZK3,316.765.00%
VT.AT0000500624 EUR133.595.00%
Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 08/31/2010)
Currency1 Year3 Years5 Years10 YearsBeginning of
the year *		Inception
CZK-9.425.93  -15.781.50
EUR-4.6110.975.90 -7.926.37
* absolute
Annual performance (in %, in fund base currency)
Year20052006200720082009
Performance 4.87 -0.46 -1.66 14.34 27.97
Statistical data according to OeKB (3 years)
Sharpe ratio0.70
Volatility (in %)12.28
Benefits for investorLow correlation to other types of investment
Payouts possible
Low minimum investments
Daily liquidity
Possible as a capital plan
Please noteVolatility may result from the use of derivative instruments
Equity markets in newly industrialised countries (emerging markets) exhibit a greater risk of volatility
Currency fluctuations tend to affect the fund
Recommended length of holding at least 5 years
Performance
Performance (incl. distribution of dividends) between 06/01/2005 and 08/31/2010
Min / Max performance
From adjusted net asset values between 06/01/2005 and 08/31/2010
Minimumin % p.a.Maximum
Regions