ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. (“ESPA“), largest investment company in Austria, merges with its parent company, Erste Asset Management GmbH (“EAM“). The merger has already been approved by the required bodies and the Financial Market Authority. The merger became effective as result of the entry in the commercial register on 3.11.2018 and will be retroactively effective for accounting purposes as of 31 December 2017.
“The merger is a logical step towards the streamlining of the organisational structure of asset management within Erste Bank Group and facilitates a unified corporate appearance at our locations and through our business activities,” explains Heinz Bednar, CEO of EAM. The composition of the board of EAM remains unchanged, consisting of Heinz Bednar (CEO), Winfried Buchbauer, Wolfgang Traindl, and Peter Karl.
All employees of ESPA will be taken over into EAM. This also applies to the organisational units and the management teams. “The merger is the result of extremely intensive work and thorough due diligence. The successful consummation of our merger results in improved organisational structures and, as far as our employees and clients are concerned, in the utmost trust in our future,” says Bednar.
All investment funds under ESPA management, i.e. the entire pool of assets under management of EUR 32.1bn (as of 29 September 2018) managed by ESPA, will be taken over and managed by EAM from the day of the merger. The investment funds of ESPA will remain unchanged, and this also applies to the fund names. There will be no changes arising to the investors of ESPA investment funds from the merger.
Info:
Erste Asset Management GmbH coordinates and is responsible for all asset management activities (management of investment funds and individual portfolio solutions) within Erste Group Bank AG. At its locations in Austria, Germany, Croatia, Romania, the Slovak Republic, the Czech Republic, and Hungary, EAM manages assets worth EUR 61.4bn (as of 29 September 2018).
For further queries please contact:
Erste Asset Management, Communications & Digital Marketing
Paul Severin
Tel. +43 (0)50 100 19982
E-Mail: paul.severin@erste-am.com
Erste Asset Management GmbH
Am Belvedere 1, A-1100 Wien
www.erste-am.com
Sitz Wien, FN 102018b,
Handelsgericht Wien, DVR 0468703
Disclaimer
This document is an advertisement. Please refer to the prospectus of the UCITS or to the Information for Investors pursuant to Art 21 AIFMG of the alternative investment fund and the Key Information Document before making any final investment decisions. 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 Art 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 Art 21 AIFMG, and the Key Information Document can be viewed in their latest versions at the website 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 website 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 Art 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.
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.