History

2014

At the beginning of the year the Croatian subsidiary of Erste Asset Management, ERSTE INVEST d.o.o, changed its name to Erste Asset Management d.o.o. This step coincides with Croatia’s accession to the European Union. The change of names also underlines the further integration of Croatia into the Erste Asset Management holding.

ESPA-Financial Advisors GmbH was founded in 2003 as subsidiary of ERSTE-SPARINVEST in order to serve the asset management clients of Erste Bank. In 2014 the asset management business was fully integrated into Erste Asset Management GmbH, and ESPA-Financial Advisors GmbH discontinued operations.

 

2013

Austria
For the first time, Austria celebrates the World Fund Day (Weltfondstag). Erste Asset Management plays an active role by offering a bonus for its s Fonds Plan.

Croatia:

In 2013, Erste Asset Management Croatia increased its market share by more than 5%, thus attaining 20% of the national market.

Hungary:

In December 2013 Erste Asset Management Hungary took the second position in the Hungarian investment fund market (public fund market share).

Romania:
In September 2013, the fund ERSTE Bond Flexible RON (former BCR Obligatiuni), one of Erste Asset Management group’s flagship funds, reached 1 billion euro in net assets.

In 2013, the investment funds managed by Erste Asset Management Romania were rebranded in accordance with European Standards (EFC Categories, standards established by the European Fund and Asset Management Association). The new fund names make reference to the specific asset classes, geographic spread and currency of investment.

Erste Asset Management Romania concluded a long-term partnership with the Romanian Tennis Federation. Consequently, Erste Asset Management Romania has started to give out books and shares in managed funds as awards to tennis players in the national and international competitions organised by the Romanian Tennis Federation.

Financial education: In cooperation with the Publica Publishing House Erste Asset Management Romania launched five new books in the “Little Books, High Yields” Collection. Erste Asset Management also concluded a partnership with the Faculty of Finance, Insurance, Banks and Stock Exchanges of the Bucharest Academy of Economic Studies which provides students with the opportunity to engage in internship programmes and workshops organised by Erste Asset Management.

Serbia:
Due to the small size of the Serbian fund market, Erste Asset Management stops all activities in Serbia.

Slovakia:

In April 2013 EAM Slovakia lunched a new savings product called “Šikovné investičné sporenie” in cooperation with Slovenská sporiteľňa. By December 2013 16 000 clients had bought this product.

In August EAM Slovakia lunched another new product together with Slovenská sporiteľňa: “Combi deposit Premium“ (combination of the balanced fund “SPORO Active portfolio” and a 1 year term deposit of Slovenská sporiteľna). Thanks to this product the net sales of “SPORO Active portfolio” had risen to 24 million Euros by December 2013.

 

2012

ERSTE SPARINVEST Germany GmbH is renamed as Erste Asset Management Germany GmbH.

Change to the international name of the Hungarian subsidiary from Erste Fund Management Ltd to Erste Asset Management Limited.

The exclusion of companies producing controversial weapons from all of our funds and portfolios in the context of UN principles underlines our responsible investment policy.

In Romania, the ERSTE Monetar is established – the first Romanian money market fund that follows European standards.

Following the local implementation of European standards in respect of money market funds, Erste Asset Management made the decision to merge two of the managed funds, BCR Monetar and BCR Obligaţiuni. The two funds were 80% similar, so BCR Obligaţiuni acquired BCR Monetar to become one of the largest bond funds in the ERSTE Group by assets.

Financial education: In cooperation with the Publica Publishing House, Erste Asset Management initiated a financial education project focused on the publishing of an investment series titled “Little Books, High Yields”. The first title of the collection was launched in the local market: The Little Book of Behavioral Investing, by James Montier.

 

2011

The range of socially responsible investment funds is enriched by another segment: The ESPA VINIS Bond Euro-Corporate (now called ERSTE RESPONSIBLE BOND EURO-CORPORATE) is the first issued sustainable corporate bond fund by an Austrian investment company.

Change in the investment process to Global Tactical Asset Allocation (GTTA) with the integrated Tactical  Asset Allocation (TAA) of stocks and bonds.

 

2010

With ESPA VINIS MICROFINANCE* (now called ERSTE RESPONSIBLE MICROFINANCE), Austrian investors are able to lend to the private sector in emerging and developing countries for the first time, and achieve indirect support on social returns.

 

2009

RINGTURM KAG, founded 1988 in Vienna, becomes an Erste Asset Management subsidiary.

Investiční společnost České spořitelny (ISCS) becomes a subsidiary company of Erste Asset Management.

ERSTE-SPARINVEST begins a new product family for fixed-term funds by introducing “Baskets”.

Change in the investment process via Derivative Overlays – Alpha Funds Transfer Tactical Asset Allocation (TAA) with risk-and-fixed-term-oriented equity exposure.

 

2008

Founding of Erste Asset Management GmbH. All asset management activities within Erste Group are controlled and coordinated via this company. It holds 81.48% stake at ERSTE-SPARINVEST.

Erste Invest a.d. Asset Management is founded in Serbia, as a wholly owned subsidiary of Erste Asset Management.

In Romania, SAI Erste Asset Management SA is created. It takes over management of all investment funds and individual portfolios of SAI BCR Asset Management SA, a former subsidiary of Banca Comerciala Romana (BCR).

 

2007

Establishment of ERSTE-SPARINVEST Germany GmbH, based in Vaterstetten near Munich. The German-based EAM subsidiary successfully positions itself as a boutique provider of ESPA funds.

Introduction of the SPORO Fund of Maximized Returns* in Slovakia. Based on this fund, SPORO Plan is also introduced – a special fund to be used for savings plans.

 

2006

ERSTE-SPARINVEST and World Wide Fund For Nature (WWF) establish a long-term partnership. The environmental equity fund "Stock Umwelt" now bears the name of WWF. ERSTE-SPARINVEST waives a portion of fund fees and provides the funds for conservation projects.

 

2005

Croatia: ERSTE-INVEST begins the administration of veteran funds. With 500,000 shareholders, it plays a unique role in the Croatian market, which goes far beyond the economic dimension.

With ESPA CASH EMERGING-MARKETS (today called ESPA SHORT TERM EMERGING-MARKETS*), the first money market fund for emerging markets in Austria is launched.

 

2004

The Erste Real Estate Fund* is launched in Hungary, which has become a flagship of Erste Asset Management.

In Romania, the BCR DINAMIC Fund* is established – the first ever Romanian investment fund.

 

2003

Launch of ESPA VINIS STOCK GLOBAL* (now called ERSTE RESPONSIBLE STOCK GLOBAL), ERSTE-SPARINVEST's flagship for responsible investments. 

 

2002

The first mandates (special funds) for German institutional clients are created. 

Change in Investment Process Tactical Asset Allocation (TAA) Equity conversion from qualitative to quantitative.

ERSTE-SPARINVEST leads with an “absolute return” investment approach to a new management of mixed funds.

 

2001

The introduction of security control in 2001 promotes the proliferation of funds of funds.

The Slovak Slovenskej sporiteľne, správ. spol. a.s is established, the asset management company of Slovenská sporiteľňa. The SPORO Plus Fund was the first raised, which developed into one of the largest money market funds in Slovakia.

With the launch of the ESPA STOCK UMWELT (now called ERSTE WWF STOCK UMWELT*), ERSTE-SPARINVEST becomes a pioneer in responsible investments.

 

1999

ERSTE-SPARINVEST brings about the first Austrian high-yield bond fund (today called ESPA BOND EUROPE-HIGH YIELD*).

 

1998

In Croatia, the mutual fund company ERSTE-INVEST d.o.o, a current subsidiary of EAM, is founded.

 

1997

Another first: The Danubia Rent (today called ESPA BOND DANUBIA*) is the first Austria fixed income fund that invests in Eastern European EU-candidate countries.

 

1996

A portion of the Sparinvest Austria merges with EKA, Erste's investment company. (Since then the company has been renamed ERSTE-SPARINVEST KAG.) The other part of Sparinvest Austria is reorganized toward capital investment.

 

1994

Merger of Sparinvest with the KAG of Bank Austria to Sparinvest Austria.

 

1993

Founding of Giro Asset Management, the predecessor of Erste Asset Management in Hungary.

 

1991

Founding of Investiční společnost České spořitelny (ISCS), since 2009 a member of Erste Asset Management.

 

1990

After the fall of the Iron Curtain, Danubia-Invest emerges (today called ESPA STOCK EUROPE-EMERGING*) to become the first Eastern European equity fund.

 

1988

Founding of RINGTURM KAG, an Erste Asset Management subsidiary since 2009.

For the first time in Austria, the savings bank Sparkassen-Mündelrent (today ESPA BOND EURO-MÜNDELRENT*) is established. It focusses exclusively on Austrian issuers that comply with the Austrian Fixed income Fund Act.

 

1986

The first Austrian equity fund is established. With Vienna-Invest (today ESPA STOCK VIENNA*), Sparinvest benefits from an unprecedented gold rush on the Vienna Stock Exchange.

 

1982

Launch of the Reserva (now called ESPA BOND EURO-RESERVA*), the first fund for severance pay and fixed income provisions.

 

1979

The "Sparfonds" (today called ESPA CASH EURO-PLUS*) joins the first Austrian money market funds in the ranks of the successful savings investment fund, Sparinvest-Fonds.

 

1969

COMBIRENT (now called ESPA BOND COMBIRENT*), the first Austrian Schilling bond fund, is launched. With Intertrend (now ESPA BOND INTERNATIONAL*), the first international fixed income fund is launched in Austria.

Government and corporate bonds offer great potential, and Sparinvest enters the bond fund sector.

 

1965

Founding year of Sparinvest KAG. The legal foundation for the establishment of investment companies and investment funds were created under the Investment Funds Act (InvFG) in 1963.

 

* For detailed information on this fund please contact us at office@erste-am.com.