Departments

Get to know the various departments of Erste Asset Management. Have a look and find the position that most suits you in our team.

Investment Division

The Investment Division develops, manages, and controls investment solutions (funds and portfolios) for the asset classes “Fixed Income“, “Equities“, “Multi Asset Management“, and “Responsible Investments“.

The Equities department manages all solutions and investments in equities. In addition to a broad range of equity funds for developed and emerging markets, the team focuses on specific themes such as biotechnology, megatrends and sustainability.

As part of the Investment Division, the Fixed Income department manages all investments and fund solutions for government and corporate bonds within developed and emerging markets. In cooperation with the Responsible Investments department Fixed Income also offers sustainably managed products.

The Global Strategies & Research department primarily supports Multi-Asset-Management, Fixed Income, and Equities. The wide range of tasks includes qualitative and quantitative analyses, the development of investment approaches and extends to the management of single stock funds on the equity side.

As part of the Investment Division, the Multi Asset Management department manages fund and portfolio solutions that include more than one asset class. Among these products are those with absolute value increase (total return) such as YOU INVEST, products with hedging strategies (protected return), and products that are oriented towards a benchmark index. The strategies are largely implemented via umbrella funds.

The Responsible Investments department manages ESG funds and specializes in quantitative and qualitative ESG analysis at both company and country level. ESG market leadership in our region enables us to engage in dialogue with corporate leaders and exert pressure through our voting rights to achieve positive impact on climate change, child labor and corporate governance. Since we launched our first ESG fund in 2001, we have continuously developed in this area and offer the right investment solutions for different asset classes as well as different ESG preferences.

The Portfolio Management team manages the asset management mandates of the clients of Erste Group's banks and savings banks. Portfolio management is based on individual contracts and at the custody account level of each client. The strategies and sub-strategies used can also be managed as special funds. We offer a wide range of multi-asset solutions, from bonds, equities, real estate securities, alternative investments to private markets strategies. The implementation is done directly with individual securities and investment funds.

The Private Markets department bundles the Group-wide expertise and management of illiquid asset classes. This includes the management of the Private Markets DPM mandates, the Private Equity Fund of Funds strategy and the Private Equity Direct SME strategy.

The Investment Solutions & Controlling department coordinates all agendas of the Investment Division and operates in the fields of personnel planning and of product and process development.

Product Management

The division Product Management is responsible for development and management of Erste AM’s product range, as well as marketing agendas. This includes innovation management, the steering of the product strategy as well as the support for investment and sales units. The division consists of Product- and Marketing Specialists.

Operating Office

All Midoffice and operating departments of Erste Asset Management Group are bundled in the Operating Office. The further development and implementation of the digitalized, data-driven operating model, which enables efficient business processes, is of central interest. As the hub between sales / customers and a wide variety of internal departments as well as external business partners, great importance is attached to a functioning value chain in Erste Asset Management's service offering both in Austria and in CEE.

The Data Management department is responsible for data governance and thus the careful handling of data throughout the company. The core tasks include specialist data architecture, data modeling and data quality management. In this function, we serve as an interface between the business units and IT for all data requirements. We support our colleagues in Austria and CEE in specifying their business requirements and transferring them to IT in a structured manner. In addition, Data Management is responsible for license agreements with external data suppliers and ensures compliance.

The Investment Operations department supports processes in day-to-day business for internal and external fund managers and thus contributes to maintaining the core business. As a contact point for external fund managers, we coordinate downstream processes between external parties (managers/advisors), the custodian bank and clients. In the area of insourcing, Investment Operations also takes care of back office issues. With support in the fund launch process, secure and reliable settlement processes are established and efficient reporting with all internal and external business partners involved is set up.

Cross-departmental and Erste Asset Management central services are offered for custodian management, broker list administration and regulatory topics such as EMIR, among others.

The Midoffice DPM department is the operational interface for all asset management solutions (Private Banking & "Invest Manager" for private clients) between the sales units of the savings banks and the Portfolio Management as well as internal business units of Erste Asset Management. This responsibility includes the competence for using the current portfolio management system (SimCorp Dimension incl. approx. 60 interfaces), including first level support. Contentwise the topics support of all private banking and retail reporting solutions (both print and online), data quality management in daily business, as well as the process of fee calculation are covered.

In addition, the Midoffice DPM department is responsible for regulatory issues such as customer contracts, work instructions, rules of procedure and process documentation, as well as technical and regulatory project and test coordination for the asset management product.

The Midoffice Funds department is responsible for all operational activities relating to the product life cycle of an investment fund. The activities also include the on-boarding of external cooperation partners and customers as well as the cooperation with the subsidiaries in CEE. Among other things, various (standardized and individualized) reporting solutions are also provided for institutional clients. The regular review of external cooperation partners ("due diligence") as well as the responsibility for distribution and portfolio commission agreements are further components of our area of responsibility. In particular, we work closely with fund management, IT and risk management, but also with various other internal departments.

Risk Management

Risk Management is responsible for measuring and monitoring all product-specific risks in investment funds and portfolios. Typically, market risks (value at risk, stress tests, etc.), liquidity risks and credit risks are recorded and evaluated. The results of this assessment are constantly reconciled with external (legal) and internal regulations. In those cases, where the risk values are not in line with the respective risk profile of a fund or portfolio, immediate steps are demanded from the fund management team in charge. In addition to product-specific risks, operational risks are also measured and managed.

Risk Management is also consulted whenever a new product is launched in order to assess potential risks and thus contribute to the design of the product.

One of the main tasks of Risk Management is to provide clients, the Supervisory Board, the Management Board, and the fund management team with research reports in order to avert potential harm pre-emptively.

In the Operational Risk and Process Management department, potential losses arising from IT systems, processes, and human error are analyzed and reduced by taking appropriate measures (e.g., suitable controls, training).

Back Office

The Back Office consists of two departments:

  • Tax & Fund Reporting
  • Investment Operations

It was newly set up in May 2014. Our “Back Office CEE“ is the staff position of the Back Office and coordinates back office activities between the subsidiaries and Erste Asset Management.

The Taxes & Fund Reporting department is in charge of fund reports for the various investment funds and the taxation of investors.

The depositary bank has traditionally been in charge of the valuation of investment assets in Austria. As a result of statutory changes (Alternative Investment Fund Managers Directive 2011), these tasks were transferred to the investment company. To this end, we set up the team “Fund Operations” within the Back Office. Here, our colleagues decide on the valuation rationale (sources, models, priorities) on the basis of how the depositary bank would calculate the fund price (net asset value, NAV). The second core task of the department is the production of the International Financial Reporting Standards (IFRS) reports for our investment funds.

Sales & Sales Support

Our Sales departments consist of Institutional Sales (International and Austria) and Retail Sales Austria. Whereas Institutional Sales deals with investment solutions for domestic and international clients such as pension funds, insurance companies, and groups of companies, Retail Sales Austria provides comprehensive advisory services to all Austrian retail sales partners.

The Institutional Sales Austria department is responsible for the maintenance and expansion of institutional client relations of Erste Asset Management in Austria.

This client segment includes large institutional investors such as insurance companies and pension funds as well as investors from the public sector, private foundations, companies, and others. Among the main activities of the employees are the acquisition of new clients and the continuous advisory for existing clients in the investment area (mutual funds, institutional investment funds, special funds). As central port of call, Institutional Sales Austria represents an important interface between clients and all operating areas of the company.

International Institutional Business & CEE advises international institutional clients such as banks, pension funds, and insurance companies, umbrella fund managers, high net worth individuals, and other advisors in the creation of investment strategies and investment solutions and coordinates their implementation within Erste Asset Management.

In addition, the area coordinates and steers the local institutional business of the East European subsidiaries.

Retail Sales Austria is responsible for the comprehensive advisory of all Austrian sales partners of Erste Asset Management and ERSTE-IMMOBILIEN KAG.

The most important sales partners in the retail segment are Erste Bank Österreich, the savings bank sector, and other Austrian credit institutions. We take suitable steps to ensure the viability as product and the successful sale of the funds of the asset management companies, e.g. training, product presentations, and client events all across Austria. We are also available to the advisers of our sales partners when it comes to questions or issues with regard to our funds, and we manage complaints.

Retail Coordination & Support CEE is responsible for the steering of Retail Sales of the Erste Asset Management funds in CEE. It serves as platform to support the local sales activities in CEE.

Regulatory Functions

Our control functions Compliance, Internal Audit, and Legal ensure the correct processes and procedures across all operational departments both internally and externally.

The organisational unit Compliance and Operational Risk Management is mainly responsible for the following activities:

  • Avoidance of market abuse
  • Surveillance of employee transactions
  • Dealing with conflicts of interest
  • Avoidance of money laundering
  • Fight against the funding of terrorism
  • Compliance with sanctions and embargos
  • Examination of marketing materials
  • Consulting and training of employees

The organisational unit is also the central contact for all issues concerning operational risk across the subsidiaries and offices of Erste Asset Management.

Internal Audit is responsible for the ongoing and comprehensive auditing of the legality, compliance, and expediency of Erste Asset Management GmbH and its subsidiaries and offices. The audits are executed independently and objectively with the goal of assessing business, management, and monitoring processes and proposing improvements.

Legal Services is in charge of

  • the drawing-up and checking of contracts and fund documents
  • the legal assistance in the process of having funds accredited or changed by the Financial Market Supervision Authority
  • the handling of legal issues within Erste Asset Management Austria

In addition, the department supports the foreign subsidiaries in legal questions upon request.

Company-wide Tasks

Our corporate departments such as Human Resources, Communications & Digital Marketing, Network & Project Services, Finance and IT are responsible for important processes that contribute to smooth operations and subsequently to the success of the company.

Human Resources handles the HR management of Erste Asset Management Group. This includes recruiting, administration, personnel development, personnel planning, and performance management. We support our employees and managers and help them reach their full potential.

The Communications & Digital Marketing department is responsible for the external and internal communication of Erste Asset Management. External communication includes PR and media relations, the web and social media presence, adviser information, and special publications. The internal focus is the management of the in-house intranet and the support of the management in organisational development and employee events.

Network & Project Services is a support unit of Erste Asset Management. It coordinates the activities within the Erste Asset Management Group,  between the country offices and the individual departments. If necessary, it also manages projects and therefore fulfils a management role in the group.

The employees report directly to the management.

Accounting

The Accounting department is in charge of the accounts payable and receivable accounting as well as for the production of the monthly, quarterly, and annual reports according to Commercial Code and IFRS (International Financial Reporting Standards). In addition, the department handles the statutory reporting to the Austrian central bank (Oesterreichische Nationalbank, OeNB) and provides data to the Controlling department for internal and external reporting use. In connection with the asset management business, the department calculates and checks different kinds of fees (income and expenses) and compiles the reports to the respective business partners in Austria and abroad with regard to management fees and sales commissions.

Controlling

Erste Asset Management Controlling is responsible for determining, implementing, and developing all controlling activities and methods within Erste Asset Management. Controlling advises and supports Management in its decision-making process by reporting regularly and with ad-hoc reports.

EAM IT develops and operates IT solutions and services. These include fund management applications such as SimCorp, data warehouse and reporting solutions, web-based applications, and cloud-based services. EAM IT is responsible for the entire IT project portfolio at Erste Asset Management and acts as the interface between the specialist departments of Erste Asset Management and the IT operations and development departments of Erste Group IT International as well as external vendors.

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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 Amtsblatt zur Wiener Zeitung 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 investor document/KID 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 investor 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.

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.