Positive start of the week – Update from the Investment Division

Positive start of the week – Update from the Investment Division
Positive start of the week – Update from the Investment Division
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What has occurred since yesterday?

The start of the week was positive. However, the large markets in the USA and UK had a public holiday on Monday. Equity markets in continental Europe developed quite positively. Also Asia is positive this morning.

Hong Kong stabilized despite the tensions with China and the flaring up of protests on Monday and is today in very positive territory as well. The oil price increased further and the brand WTI with delivery in July 2020 is again at USD 34,4. Investment grade government bonds decreased slightly. The gold ounce traded at USD 1731. The Euro continues in the same range for the last days with ca. USD 1,09.

What will we pay attention to?

Back to school: Not only the children are back to school. Globally we are in a phase of re-opening in almost all parts of our lives. To describe the economic recovery quite a few letters have been mentioned: V, U, W, Z and yes, Swoosh. The Financial Times offers today a summary of the possible developments.

The Bank of America surveyed fund managers over the last days about their opinions of the recovery. Only one in 10 believed in the optimistic V-scenario. A majority is therefore less optimistic. The predominant majority can not be right on the market.

Parts of the market, especially equity from the quality- and growth segment perform an impressive V. It has become important again to position one selves selectively and actively.


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



Legal disclaimer

This document is an advertisement. Unless indicated otherwise, source: Erste Asset Management GmbH. Our languages of communication are German and English.

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 www.erste-am.com 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 www.erste-am.com. A summary of investor rights is available in German and English on the website www.erste-am.com/investor-rights as well as at the domicile of the management company.

The management company can decide to revoke the arrangements it has made for the distribution of unit certificates abroad, taking into account the regulatory requirements.

Detailed information on the risks potentially associated with the investment can be found in the fund prospectus or Information for investors pursuant to § 21 AIFMG of the respective fund. If the fund currency is a currency other than the investor's home currency, changes in the corresponding exchange rate may have a positive or negative impact on the value of his investment and the amount of the costs incurred in the fund - converted into his home currency.

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.

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