The global economy and the Eurozone continue to grow strongly. Furthermore, the Eurozone is currently experiencing new impulses for greater European integration through the new government in France and the coalition between CDU/CSU and SPD in Germany. On the other hand the outcome of the elections in Italy brought a politically instable result. The ECB meeting beginning of March did not include significant news.
Of concern of most market participants is the expected introduction of tariffs on steel (25%) and Aluminum (10%) by the US government. The unorthodox tactic of the new US-president confuses the market and leads to increased volatility. For the next meeting of the US-Federal Reserve on 21.3.2018 markets expect a rate hike.
Development of bond yields of US- and EUR-Government-Bonds and EUR-Corporate-Bonds
Development of bond yields of European High-Yield-Bonds compared with global High-Yield-
Bonds and Emerging-Markets-Corporate-Bonds (02/2013-02/2018)
The development of historic yields is not a reliable indicator for future developments of a specific asset category or asset class. The charts above do not include any fees or costs.
Ratio-Overview (more information can be found at www.erste-am.com)
Prognoses are no reliable indicator for future performance.
This document is an advertisement. All data is sourced from ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H., Erste Asset Management GmbH and ERSTE Immobilien Kapitalanlagegesellschaft m.b.H. unless indicated otherwise. Our languages of communication are German and English.
The prospectus for UCITS (including any amendments) is published in Amtsblatt zur Wiener Zeitung in accordance with the provisions of the InvFG 2011 in the currently amended version. Information for Investors pursuant to § 21 AIFMG is prepared for the alternative investment funds (AIF) administered by ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H., Erste Asset Management GmbH and for ERSTE Immobilien Kapitalanlagegesellschaft m.b.H. pursuant to the provisions of the AIFMG in connection with the InvFG 2011 and regarding ERSTE Immobilien Kapitalanlagegesellschaft m.b.H. published in Amtsblatt zur Wiener Zeitung or at the web site www.erste-am.com or www.ersteimmobilien.at .
The fund prospectus, Information for Investors pursuant to § 21 AIFMG and the key investor document/KID can be viewed in their latest versions at the web site www.erste-am.com or www.ersteimmobilien.at or obtained in their latest versions free of charge from the domicile of the management company and the domicile of the custodian bank. The exact date of the most recent publication of the fund prospectus, the languages in which the key investor document/KID is available, and any additional locations where the documents can be obtained can be viewed on the web site www.erste-am.com or www.ersteimmobilien.at .
This document serves as additional information for our investors and is based on the knowledge of the staff responsible for preparing it at the time of preparation. Our analyses and conclusions are general in nature and do not take into account the individual needs of our investors in terms of earnings, taxation and risk appetite. Past performance is not a reliable indicator of the future performance of a fund.