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 material is an advertisement and serves only to provide additional information about the mutual funds managed by Erste Asset Management GmbH ("Erste AM").
Basic documents about the mutual funds are Fund rules ("Statut") and the Key Investor Information. Statutes of the Funds are submitted to the Czech National Bank in accordance with Czech law and their current versions are available at the registered office of Erste AM or on the website www.erste-am.cz.
The analyses and conclusions published in this material are of a general nature and do not take into account the personal needs of individual investors in terms of income, financial situation or risk tolerance. They are in no way investment recommendations. Any use of this information should therefore be preceded by consultation with a professional investment adviser to ensure that the planned investment is in line with the investor's needs and priorities and to inform the investor of the potential risks of the particular investment.
Where any return is mentioned in the information material, it should always be based on the principle that past returns are no guarantee of future returns. Any investment involves the risk of volatility in value and changes in exchange rates and the return on the original investment and the amount of any profit is in no way guaranteed. Past performance figures include the effect of fees, commissions and taxes associated with the management of the Fund. Only entry and exit fees related to the distribution of units, if any, are not included.
Erste AM and the managed investment funds registered in the Czech Republic are subject to the supervision of the Czech National Bank.