ERSTE-SPARINVEST merges with Erste Asset Management
2018 06 NOV
Press releases ERSTE-SPARINVEST merges with Erste Asset Management

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.
 

Heinz Bednar

“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 & PR

 

Armand Feka
Tel. +43 (0)50 100 12341
E-Mail: armand.feka@sparinvest.com
 

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. All data is sourced from Erste Asset Management GmbH, unless indicated otherwise. 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 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.

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. Please note that investments in securities entail risks in addition to the opportunities presented here. The value of shares and their earnings can rise and fall. Changes in exchange rates can also have a positive or negative effect on the value of an investment. For this reason, you may receive less than your originally invested amount when you redeem your shares. Persons who are interested in purchasing shares in investment funds are advised to read the current fund prospectus(es) and the Information for Investors pursuant to § 21 AIFMG, especially the risk notices they contain, before making an investment decision.

Please consult the corresponding information in the fund prospectus and the Information for Investors pursuant to § 21 AIFMG for restrictions on the sale of fund shares to American citizens. Misprints and errors excepted.