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ESPA BOND EUROPE HIGH YIELD VT


High-yielding corporate bonds with currency hedging in euros

ISIN:
AT0000639422

2019/11/13
NAV
5,004.3400
Difference -0.02% (-0.77)

General attributes

Fund typeFlexible-Term Bond Funds
Investment companyErste Asset Management GmbH
CurrencyCZK
TypeVT
Begin of subscription period-
Inception1999/06/01
Licenced inAT,CZ
Duration of fundopen end
Total assets235,687,290.09 EUR
Fiscal year06/01 - 05/31
Initial charge3.50%
Management fee1.20%
Ongoing charges1.13%
Minimum investmentAccording to offer
Account number-
Recommended holding periodAt least 6 years
Investor experience-
Investor tolerance3 (scale 1-7)

Fund PDF download

ProspectusPDF Download
Key Investor Information DocumentPDF Download
CZ DisclaimerPDF Download

Fund annual reports

Annual Reports2018/05/31PDF Download
First-Half Report2018/11/30PDF Download
Scale: ABS REL


The chart shows the current fund share unit price (NAV) of the nominal value of an investment company proclaimed on that working day. Performances under 12 month have only little informative value.  Information about previous performance does not guarantee future performance.
Source: Česká spořitelna, a. s.
Advantages Details you should be aware of
Broad diversification in European high-yield bonds. Attractive, long-term asset class. Opportunity to earn high annual payouts. No currency effects due to currency hedging. The net asset value of the fund can fluctuate considerably. Price declines are possible, particularly in an environment of rising risk premiums (deterioration in credit ratings). Average to low credit rating below investment grade, therefore higher possibility of credit losses. Capital loss is possible.

Secondary market

Purchase of share certificates
Investing in the open-end mutual funds is very easy. If you have already invested with Česká spořitelna, simply remit the invested amount to the collection account number of the selected fund and indicate your MUIN (number of your investment account) as the variable symbol. A comfortable method of investing is represented by SERVIS24 Internetbanking.

Sale of share certificates

To sell certificates visit any branch of Česká spořitelna or use the SERVIS24 Internetbanking services.

For new clients

If you have not invested with Česká spořitelna, contact your personal consultant or visit any branch of Česká spořitelna, where we will be happy to answer your questions and help you choose the best investment solution. You just have to make one visit to the Česká spořitelna branch and then you may make investments without any further visits.

 
ČS list of charges for mutual funds unit trading





Disclaimer

Full names of open Mutual funds are given in the fund statutes (prospectuses). Pursuant to rules applicable to collective investment, the manager informs that neither the current or expected performance will guarantee the future performance. Investment in investment certificates contains the risk that the current value of amount invested and yields on the amount will fluctuate; thus return on the amount invested is not guaranteed. All information provided herein is of informative nature only and it should not substitute the statute (prospectus) or give its overall summary. Before using this website/information for investment, you should consult consultants of Česká spořitelna. If any yield is mentioned in the reference material, you should always bear in mind that past yields will not guarantee future yields, that any investment is subject to the risk of value fluctuations and change of exchange rates, and that return on the amount invested or profit margin cannot be guaranteed.

Performance goal and investment strategy

<> invests predominantly in bonds issued in euro-denominated corporate bonds. Where appropriate, currency risks are hedged against the euro. The credit rating is primarily in the high-yield segment BB+ or lower).

Performance (2019/10/31)

Period YTD
6m
1Y
(% p a)
3Y
(% p a)
5Y
(% p a)
10Y
(% p a)
since inc.
(% p a)
Perf 5.34 - 2.12 0.36 1.27 5.36 3.66

Annual performance in % (2019/10/31)

Period 2014 2015 2016 2017 2018
Perf 3.03 -0.77 8.03 -0.47 -4.17

Funds ratio of bonds (-)

Average Yield3.46 %
Average time to maturity4.86 years
Duration in years4.29 years
Modified duration2.93 %

Performance Calculator

Try to calculate the historical performance of the fund with our calculator.

Minimum & maximum performance in % p.a. (2019/10/31)

1Y
62.33
 
-35.83
3Y
23.26
 
-11.87
5Y
18.04
 
-4.32
10Y
10.07
 
0.05

Disclaimer

Full names of open Mutual funds are given in the fund statutes (prospectuses). Pursuant to rules applicable to collective investment, the manager informs that neither the current or expected performance will guarantee the future performance. Investment in investment certificates contains the risk that the current value of amount invested and yields on the amount will fluctuate; thus return on the amount invested is not guaranteed. All information provided herein is of informative nature only and it should not substitute the statute (prospectus) or give its overall summary. Before using this website/information for investment, you should consult consultants of Česká spořitelna. If any yield is mentioned in the reference material, you should always bear in mind that past yields will not guarantee future yields, that any investment is subject to the risk of value fluctuations and change of exchange rates, and that return on the amount invested or profit margin cannot be guaranteed.

Top holdings (2019/10/31)

ISINNameCurrency%FA
XS1388625425FIAT CHRYSL.AUTO.16/24MTNEUR2.45
XS1599275986ARD FINANCE 17/23EUR1.78
XS1821883102NETFLIX 17/27 REGSEUR1.41
XS1992154341ALTICE LUX. 19/27 REGSEUR1.36
XS1207058733REPSOL INTL F. 15/75 FLREUR1.25
XS1953271225UNICREDIT 19/29 FLR MTNEUR1.23
XS1684385161SOFTBANK GROUP 17/25EUR1.21
XS1734328799EQUINIX 17/26EUR1.12
FR0011560986ORANO 13/20 MTNEUR1.10
XS1731823255TELEFON.EUROPE 17/UND.FLREUR1.10

Holdings by country (2019/10/31)

15.80 %France
13.74 %United States of America
11.61 %Spain
10.72 %Italy
9.04 %Germany
7.17 %Netherlands
4.52 %Sweden
4.47 %United Kingdom
4.18 %Ireland
3.88 %Switzerland
2.41 %Japan
2.24 %Belgium
2.03 %Israel
1.43 %Finland
1.16 %Luxembourg

Percentage holdings by rating (2019/10/31)

54.94 %BB
26.65 %B
9.38 %CCC
7.01 %BBB
1.23 %NR
0.38 %AA
0.33 %CC
0.05 %AAA
0.02 %A

Percentage securities type (2019/10/31)

89.04 %Corporate non-investment grade
4.34 %Corporate investment grade
3.49 %Non-investment grade credit institutions
2.18 %Investment grade credit institutions
0.95 %Government/Government guaranteed



Disclaimer

Full names of open Mutual funds are given in the fund statutes (prospectuses). Pursuant to rules applicable to collective investment, the manager informs that neither the current or expected performance will guarantee the future performance. Investment in investment certificates contains the risk that the current value of amount invested and yields on the amount will fluctuate; thus return on the amount invested is not guaranteed. All information provided herein is of informative nature only and it should not substitute the statute (prospectus) or give its overall summary. Before using this website/information for investment, you should consult consultants of Česká spořitelna. If any yield is mentioned in the reference material, you should always bear in mind that past yields will not guarantee future yields, that any investment is subject to the risk of value fluctuations and change of exchange rates, and that return on the amount invested or profit margin cannot be guaranteed.

Know-How

 
In our know-how area you can find all relevant details on the different types of bonds. The tutorial gives you selected information about the functionality of bonds and assists you in making your investment decision. In our glossary we explain the most important keywords and within the FAQ section you can find answers to the most common questions concerning this topic.

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Contact

 
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