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High yield dluhopisový


Corporate bonds mostly of speculative grade with the actively managed currency hedging.

ISIN:
CZ0008472412

2019/11/12
NAV
1.4600
Difference 0.02% (0.00)

General attributes

Fund typeMedium-Term Bond Funds
Investment companyErste Asset Management GmbH, pobočka Česká republika
CurrencyCZK
Type-
Begin of subscription period-
Inception2006/08/28
Licenced inCZ
Duration of fundopen end
Total assets4,074,790,730.00 CZK
Fiscal year01/01 - 12/31
Initial charge1.00%
Management fee1.20%
Ongoing charges1.41%
Minimum investment300 CZK
Account number35-2001316399/0800
Recommended holding periodAt least 3 years
Investor experience-
Investor tolerance3 (scale 1-7)

Fund PDF download

ProspectusPDF Download
Key Investor Information DocumentPDF Download
CZ Flyer HIGH YIELD DLUHOPISOVÝPDF Download
CZ Quarterly fund reportPDF Download
Obchodní podmínky České spořitelny pro poskytování investičních služeb - platné od 3.1.2018PDF Download

Fund annual reports

Annual Reports2018/12/31PDF Download
First-Half Report2019/06/30PDF 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
• The presence of corporate bonds increases the long-term growth potential• Addition to the bond part of the investment portfolio• The currency hedging is actively managed• 0% exit fees• Ideal for regular investments • Growing interests may result in a short-term decline in price• The fund is actively managed, i.e. its turnover can be high• Money is normally available within a week

Secondary market

Purchase of share certificates
You need to conclude an Investment Services Agreement to invest in the open-end mutual funds. Then you just need to remit the invested amount to the collection account number of the selected fund and indicate the Asset Account number as the variable symbol (stated in the Investment Services Agreement). It is more convenient to use a regular investment order for regular investments (e.g. via internetbanking) because you can get a discount (the terms and conditions are shown in the Price List). The internetbanking allows you to continuously follow the trend in your investments.

Redemption/sale of share certificates
To redeem share certificates, please visit any branch of Česká spořitelna or use the services of our internetbanking.

For new clients:
If you have not invested with Česká spořitelna yet, contact your personal advisor or come to any branch of Česká spořitelna, or use the free phone line 800 468 378, where we will gladly answer your questions and help you to choose the most convenient investment solution.

 
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

The performance objective of the fund is to exceed the yields on government bonds of the Czech Republic through investments in corporate bonds bearing a higher risk in the long term. It is an open bond share fund with a medium-term recommended investment period. The fund is intended for investors who wish to achieve high appreciation on bond markets and accept short-term price fluctuations. The fund endeavours to achieve a surplus yield primarily thanks to investments in corporate bonds at the speculative level ("High Yield"), offering a higher yield than government bonds with increased risk. The fond invests on global markets, typically it is invested in issuers from countries of West, Central and East Europe, and maintains the overall average portfolio duration below 5 years. Before a careful selection of titles, a detail analysis is performed; every selected title is continually evaluated with respect to the portfolio credit quality and probability that bond issuers will keep their obligations. The fund is actively managed, which means that the fund manager can use short-term market opportunities as well and thus manage the credit risk actively. The currency hedging is actively managed.

Performance (2019/11/07)

Period YTD
6m
1Y
(% p a)
3Y
(% p a)
5Y
(% p a)
10Y
(% p a)
since inc.
(% p a)
Perf 7.87 3.72 5.86 2.19 2.61 3.60 2.91

Annual performance in % (2019/11/07)

Period 2014 2015 2016 2017 2018
Perf 1.98 0.99 6.53 1.85 -3.35

Funds ratio of bonds (2019/09/30)

Average Yield4.48 %
Average time to maturity3.90 years
Duration in years3.59 years
Modified duration3.44 %

Performance Calculator

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

Minimum & maximum performance in % p.a. (2019/11/07)

1Y
69.11
 
-35.59
3Y
18.35
 
-0.70
5Y
14.90
 
-1.15
10Y
8.02
 
2.94

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 (2019/09/30)

ISINNameCurrency%FA
XS1406669983ARDAGH 6,75/24EUR3.37
XS1169920193VIRGIN MEDIA 4,5/25EUR2.66
XS1859337419ALTICE FRANCE 5,875/27EUR2.64
XS1795406658TELEFONICA 3,875/PERP.EUR2.26
XS1388625425FCA 3,75/24EUR2.12
US03938LAU89ARCELOR MITTAL 5,5/21USD1.84
XS0764637194ANGLO AMERICAN 3,5/22EUR1.82
DE000A14J7G6ZF CAPITAL 2,75/23EUR1.78
XS1493836461ZIGOO 4,25/27EUR1.74
XS0752467497TDC 3,75/22EUR1.56

Holdings by country (2019/09/30)

18.67 %Other
14.80 %France
11.92 %Czech Republic (incl. deposits)
11.00 %United Kingdom
10.25 %Italy
8.64 %Luxembourg
7.77 %Germany
5.72 %Russia
5.68 %Turkey
5.55 %Netherlands

Percentage holdings by rating (2019/09/30)

36.80 %Ba
29.05 %B
17.63 %Baa
11.92 %A
4.60 %Caa-C

Holdings by currency (2019/09/30)

100.00 %CZK



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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