Asset Allocation

Making investment projectable

Erste Asset Management helps investors to make the result of, i.e. return on, their investment projectable – even in markets that are repeatedly driven by external events. The different asset classes have individual risk/return profiles and change their features over time. Inefficient markets tend to trigger both overshooting and undershooting that can be exploited in a targeted fashion. We resort to our asset allocation solutions to adjust the portfolios of our clients dynamically so as to invest their assets in a return- and risk-optimised way throughout all market phases.

Our approach

We offer the active management of clients’ assets on the basis of global tactical asset allocation (GTAA). In doing so we rely on a structured, model-based investment process whose results we implement via an fund of fund concept. Thus we also offer our solutions for low investment volumes. Our long-term strategic asset allocation forms the basis for optimising the tactical allocation of the client portfolio.

Our strengths

  • Effizientes Portfoliomanagement
  • Konsistente Allokations-Entscheidungen
  • Qualitative Komponente bei gleichzeitiger Vermeidung emotionaler Verzerrungen
  • Dachfondskonzept ermöglicht Implementierung auch bei kleineren Volumina

"In a world where the markets are subjected to fluctuations on an ever-growing scale, the selection of the right asset class at the right time is the ultimate achievement in asset management.”

Alexander Lechner, Head of Multi Asset Management

Our products

We develop solutions that are tailor-made for the risk/return goals of our clients. Via our ESG filter we can take your individual responsibility criteria  into account. Our processes offer the utmost degree of transparency and are therefore suitable for the implementation of long-term investment concepts. Our product portfolio consists of strategies in three areas:

For our active-return approach we calibrate the portfolio to a long-term target yield. The active management of the asset classes reduces the general sensitivity towards the capital market. We do not set a minimum fund price as we assume actively managed risks in order to facilitate long-term return above the risk-free money market rate.

The goal of the protected return approach is not to fall below a pre-set minimum fund price, that is, a floor. This way we can preserve capital or achieve a minimum return over a defined period of time. Therefore the portfolio remains defensively invested even at times of low interest rates. Compliance with the risk budget takes precedence at all times.

In our market return approach we use a benchmark and optimise the portfolio in order to improve the risk/return profile. The performance is linked closely to the benchmark by definition. The degrees of freedom can be actively managed via tools like tracking error limits or risk budgets.

ESPA PORTFOLIO BALANCED 30

The ESPA PORTFOLIO BALANCED 30 fund pursues an active return investment approach. The fund invests primarily in equity funds (0% - 30%) and bond funds (60% - 100%). Furthermore, the fund can invest up to 10% in UCITS compliant funds with alternative investment strategies as well as real estate equity funds to complement traditional asset classes. The tactical asset allocation serves to optimise risk and return.

Please see the legal risk notes at the end of this page.

"By resorting to tactical asset allocation we can systematically limit the risk of losses also for long-only strategies.”

Gerhard Beulig, Fund manager

ESPA PORTFOLIO BALANCED 50

The ESPA PORTFOLIO BALANCED 50 fund pursues an active return investment approach. The fund invests primarily in equity funds (0% - 50%) and bond funds (40% - 100%). Furthermore, the fund can invest up to 10% in UCITS compliant funds with alternative investment strategies as well as real estate equity funds to complement traditional asset classes. The tactical asset allocation serves to optimise risk and return.

Please see the legal risk notes at the end of this page.

ERSTE RESPONSIBLE BALANCED

The ESPA RESPONSIBLE BALANCED fund pursues an active return investment approach and invests exclusively in sub-funds managed according to ethically sustainable criteria, making the fund suitable for long-term appreciation. For the purpose of risk and return optimisation, the tactical asset allocation revises the division of the funds' assets between equities, bonds and money market instruments on a monthly basis.

Please see the legal risk notes at the end of this page.

Contact us

You have questions? We are looking forward to hearing from you.

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.