Erste Asset Management

Changes to the investment universe, September 2019 – November 2019

Changes to the investment universe, September 2019 – November 2019
Changes to the investment universe, September 2019 – November 2019
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PowerCell Sweden AB (sector: Electrical Components & Equipment), EAM ESG rating 09/2019 of C; admitted into the investment universe of ERSTE WWF STOCK ENVIRONMENT in September 2019. The company was created as a spin-out from Volvo Group in 2008. PowerCell Sweden AB develops and produces modular and scalable fuel cell stacks and systems.

  • Development and production of environmentally friendly fuel cells used in the utility vehicle and automotive sector, the shipping industry, stationary power supply, and the building and industrial sector
  • The company’s business supports the transition from fossil fuels to hydrogen technology
  • ISO-certified: quality management systems ISO 9001 and ISO 14001

Rizal Commercial Banking Corporation (RCBC) (sector: Diversified Banks), EAM ESG rating 09/2019 of C; sustainability bond admitted into the investment universe of ERSTE RESPONSIBLE BOND GLOBAL IMPACT in September 2019. The company was founded as development bank in 1960 and has since then grown into one of the largest full-service banks of the Philippines. RCBC handles both domestic and international business and provides a broad range of services to private and business clients.

  • First sustainability bond issue of the Philippines
  • Proceeds from the issue go exclusively towards projects such as renewable energy, environmentally friendly transport, energy efficiency, sustainable water management, job creation, affordable housing, empowerment, access to education and healthcare etc.
  • Contribution to the achievement of various sustainable development goals (SDGs) such as healthcare and welfare (3), higher education (4), clean water (6), affordable and clean energy <hier fehlt eine Zahl?>, less inequality (10), sustainable consumption and production (12), etc.


Delta Air Lines Inc. (sector: Airlines), EAM ESG rating 09/2019 of C; a US airline with more than 80,000 employees worldwide. The network of Delta Air Lines Inc. consists of more than 300 destinations across 50 countries.

  • Exclusion due to accusations of the violation of employee rights (trade union rights in the USA)
  • Some projects geared towards the use of renewable/alternative fuel in the fleet
  • Insufficient reporting/disclosure of environmental indicators

(English): Electrical Components & Equipment (PowerCell Sweden AB), Diversified Banks (Rizal Commercial Banking Corporation), Fluggesellschaften (Delta Air Lines Inc.)

Legal note:
Prognoses are no reliable indicator for future performance.



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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.

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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.

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