“Now it starts again”: – Update from the Investment Division

What has occurred over the weekend?

Friday saw a countermovement on the stock markets after the sharp declines on Thursday. The US leading index, the S&P 500, rose by 1.3% and the majority of European stock markets were also slightly up. During the weekend there was news from China regarding a new wave of infections. In Beijing, the city’s largest fruit and vegetable market and nearby residential areas had to be closed after several new Covid-19 infections were discovered in these places. The Chinese deputy prime minister said that there was a high risk of further spread.

These reports influenced today’s Asian trade meeting.  The Japanese leading index, the Nikkei, closed down 3.5%. The futures exchanges for European and US stocks also point to losses today. Credit safe government bonds, on the other hand, posted gains. The yield of 10-year US government bonds fell to 0.66% and that of German bonds to -0.44%.

^{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 www.erste-am.com 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 www.erste-am.com. A summary of the investor rights is available in German and English on the website www.erste-am.com/investor-rights 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 www.erste-am.com.

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.

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