Erste Asset Management

Easter weekend with a difference – Update from the Investment Division

Easter weekend with a difference – Update from the Investment Division
Easter weekend with a difference – Update from the Investment Division
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What has occurred since last Friday ?

This Easter weekend was quite different compared to other Easter weekends of the past. Even if our countries will be on the forefront to loosen the lock-down over the next months not much could be felt from any resurrection yet. At least the OPEC-countries and their allies including Russia agreed to reduce their oil production quotas.

Target is a decrease of ca. 10%, which is equal to a daily oil production of 9,7 million barrels. Analysts wrote on the weekend in the Financial Times that there is a demand shortfall of ca. 30% on the other hand due to the global virus containment measures. That reflects the size and impact of the crisis. But it is a beginning and the agreement was urgently needed to see at least some stabilization in that area. The oil price “stabilized” after the positive news in a trading range of USD 20-24 (West Texas Intermediate) and USD 31-33 (Brent Crude).

Equity markets opened this morning in Asia in a significantly positive area. Gold reached a new all-time high of US Dollar 1712 per gold ounce. EUR-USD is at 1,09.

What will we pay attention to over the next days and weeks?

To follow the epidemiological curves will continue to have the highest priority over the next days.  After the reopening of China, South Korea, Singapore and Japan also the first European countries with a controlled loosening.

A mapping based on the Asian countries will give an orientation. Furthermore the coming macro-economic data will offer important lessons about the extent of the crisis (also dramatically bad expected statistics can offer security).

The reports about the financial data of the first quarter, especially from US corporations, will not offer a complete picture but will give first impressions and will reduce uncertainty.

Our dossier on coronavirus with analyses:

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



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The prospectus for UCITS (including any amendments) is published 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 Asset Management GmbH pursuant to the provisions of the AIFMG in connection with the InvFG 2011. The fund prospectus, Information for Investors pursuant to § 21 AIFMG, and the Key Information Document can be viewed in their latest versions at the web site within the section mandatory publications 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 Information Document is available, and any additional locations where the documents can be obtained can be viewed on the web site A summary of investor rights is available in German and English on the website as well as at the domicile of the management company.

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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.

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