Fact sheetto the printable page
  instruction
ESPA BOND CONVERTIBLEInternational convertibles (completely secured foreign currencies), of good to medium ratingStatus at 07/30/2010
Investment featuresESPA BOND CONVERTIBLE invests in a widely diversified portfolio of global convertibles, with foreign currencies being permanently and completely secured against the EURO.
ESPA BOND CONVERTIBLE invests in a broadly diversified portfolio of global convertible bonds, with foreign currencies permanently and fully hedged against the euro. Convertible bonds combine both worlds of bonds and shares. The fund invests in corporate bonds that come with the right to convert them into shares of the same company. This conversion is only profitable for the holder if the shares increase. Therefore we select companies whose share the fund management team expects to rise.
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 volume28,239,504.53
Fund accounting year01.02. to 31.01.
Day of first issue04/18/2007
Sales authorisationAT
Management fee0.96 % p.a.
Recommended holding periodIII
Investor experienceC - D
Investor risk tolerance6
Contactansprechpartner@sparinvest.com
Share certificates
TypeISINCurrencyNet asset valueInitial charge
A.AT0000A057B0 EUR87.533.50%
T.AT0000A057C8 EUR94.113.50%
T.C.AT0000A05AM9 EUR94.113.50%
Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 07/30/2010)
Currency1 Year3 Years5 Years10 YearsBeginning of
the year *		Inception
EUR8.00-1.84  -0.08-1.59
* absolute
Annual performance (in %, in fund base currency)
Year200720082009
Performance   2.01 -29.17 31.42
Statistical data according to OeKB (3 years)
Sharpe ratio-0.27
Volatility (in %)15.82
Benefits for investorHigher long-term return, between the respective levels offered by bonds and stocks.
Dynamic bond investment with participation in the stock market.
Suitable for diversification of a widely-spread portfolio.
No currency risk (foreign currencies completely hedged).
Please noteFalling stock prices have an influence on convertible bond prices.
Higher price fluctuations possible in comparison to government bonds.
Rising interest rates can lead to a short-term decline in prices.
Recommended length of holding at least 5 years.
Top positions
SecurityShare of fund assets
K.F.W.UMT.ANL. 09/14 DPW2.98%
AMGEN 2013 CV2.73%
BANK AMERICA CONV. PFD L2.48%
PEABODY ENERGY 06/66 CV2.17%
MICROCHIP TECHN. 2037 CV2.01%
Fund ratios*
Average securities return1.71%
Average time to maturity9.83 Years
Duration6.82 Years
Mod. Duration6.72%
* Explanation of financial terms
Performance
Performance (incl. distribution of dividends) between 04/18/2007 and 07/30/2010
Min / Max performance
From adjusted net asset values between 04/18/2007 and 07/30/2010
Minimumin % p.a.Maximum
Securitytypes