Erste Asset Management

Changes to the investment universe, March 2021 – June 2021

Changes to the investment universe, March 2021 – June 2021

Actual / nominal 2.100


Aker Horizons AS (sector: renewable electricity (renewable energy)), ESGenius score 53 (03/2021); invests in, and develops, companies in the field of renewable energy and other technologies that contribute crucially to the reduction of CO2 emissions.

  • Majority investments in the listed companies Aker Carbon Capture AS and Aker Offshore Wind AS (51% each)
  • In the pipeline/planned: acquisition of 75% in Mainstream Renewable Power, a company with a global energy production portfolio in solar power and on/offshore wind power; acquisition of 50% in Supernode, a developer of superconducting cable systems for efficient power transfer
  • Pipeline of further projects in the areas of advanced silicon materials for the solar and electronic industry and hydrogen
  • According to the preliminary analysis, interpretation, and fulfilment of the technical screening criteria of the EU Taxonomy, the deposition of CO2 can be regarded as enabling process, and the deposition of CO2 in industrial manufacturing, energy production, and wind power generation can be regarded as sustainable process

Trillium Therapeutics Inc. (sector: biotechnology), ESGenius score 70 (03/2021); a Canadian immune-oncology company that develops cancer treatment therapies.

  • Production pipeline contributes crucially to healthcare
  • R&D to treat solid tumours and blood cancer; no products approved yet
  • Production of biopharmaceuticals has low environmental externalities
  • Code of conduct deals with important topics such as insider trading, conflict of interest, but not with trust violations or the fight against corruption


Microsoft Corporation (sector: systems software), ESGenius score 75 (03/2021); develops and licences software products, services, and equipment. The range of products and services includes, among other things, operating services, server applications, desktop tools, server administration tools, software development tools, and video games. The company also develops and manufactures devices such as PCs, tablets, gaming consoles, telephones, and other intelligent devices and accessories.

  • Exclusion from our ethics funds due to the production of ego shooter video games
  • Cloud-based service and dematerialisation software with energy saving and resource efficiency potential
  • Measures towards increased energy efficiency in computing centres and commitment to increase the share of renewable energy in the operation of said centres
  • Introduction of diversity training across the company in the wake of accusations of gender discrimination in the past


Aker Horizons AS

  • Website
  • Investor Presentation
  • internal qualitative rating

Trillium Therapeutics Inc.

  • Website
  • Corporate Overview

Microsoft Corporation

  • Website
  • – Dematerialisierung



Legal disclaimer

This document is an advertisement. Unless indicated otherwise, source: Erste Asset Management GmbH. The language of communication of the sales offices is German and the languages of communication of the Management Company also include English.

The prospectus for UCITS funds (including any amendments) is prepared and published in accordance with the provisions of the InvFG 2011 as amended. Information for Investors pursuant to § 21 AIFMG is prepared for the alternative investment funds (AIF) administered by Erste Asset Management GmbH pursuant to the provisions of the AIFMG in conjunction with the InvFG 2011.

The currently valid versions of the prospectus, the Information for Investors pursuant to § 21 AIFMG, and the key information document can be found on the website under “Mandatory publications” and can be obtained free of charge by interested investors at the offices of the Management Company and at the offices of the depositary bank. The exact date of the most recent publication of the prospectus, the languages in which the key information document is available, and any other locations where the documents can be obtained are indicated on the website A summary of the investor rights is available in German and English on the website and can also be obtained from the Management Company.

The Management Company can decide to suspend the provisions it has taken for the sale of unit certificates in other countries in accordance with the regulatory requirements.

Note: You are about to purchase a product that may be difficult to understand. We recommend that you read the indicated fund documents before making an investment decision. In addition to the locations listed above, you can obtain these documents free of charge at the offices of the referring Sparkassen bank and the offices of Erste Bank der oesterreichischen Sparkassen AG. You can also access these documents electronically at

N.B.: The performance scenarios listed in the key information document are based on a calculation method that is specified in an EU regulation. The future market development cannot be accurately predicted. The depicted performance scenarios merely present potential earnings, but are based on the earnings in the recent past. The actual earnings may be lower than indicated. Our analyses and conclusions are general in nature and do not take into account the individual characteristics of our investors in terms of earnings, taxation, experience and knowledge, investment objective, financial position, capacity for loss, and risk tolerance.

Please note: Past performance is not a reliable indicator of the future performance of a fund. Investments in securities entail risks in addition to the opportunities presented here. The value of units and their earnings can rise and fall. Changes in exchange rates can also have a positive or negative effect on the value of an investment. For this reason, you may receive less than your originally invested amount when you redeem your units. Persons who are interested in purchasing units in investment funds are advised to read the current fund prospectus(es) and the Information for Investors pursuant to § 21 AIFMG, especially the risk notices they contain, before making an investment decision. If the fund currency is different than the investor’s home currency, changes in the relevant exchange rate can positively or negatively influence the value of the investment and the amount of the costs associated with the fund in the home currency.

We are not permitted to directly or indirectly offer, sell, transfer, or deliver this financial product to natural or legal persons whose place of residence or domicile is located in a country where this is legally prohibited. In this case, we may not provide any product information, either.

Please consult the corresponding information in the fund prospectus and the Information for Investors pursuant to § 21 AIFMG for restrictions on the sale of the fund to American or Russian citizens.

It is expressly noted that this communication does not provide any investment recommendations, but only expresses our current market assessment. Thus, this communication is not a substitute for investment advice, does not take into account the legal regulations aimed at promoting the independence of financial analyses, and is not subject to a prohibition on trading following the distribution of financial analyses.

This document does not represent a sales activity of the Management Company and therefore may not be construed as an offer for the purchase or sale of financial or investment instruments.

Erste Asset Management GmbH is affiliated with the referring Sparkassen banks and Erste Bank.

Please also read the “Information about us and our securities services” published by your bank.

Subject to misprints and errors.

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