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01.08.2017 - Emerging Markets Corporate Bonds Update for July 2017

• Market well supported by high inflows in the asset class
• Gains in the currency hedges due to a strong Euro
• Vulnerability to small market corrections with regards to the historic context
• The slow-paced tightening of the US monetary policy and a strong economy have pushed markets upwards

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01.07.2017 - Emerging Markets Corporate Bonds Update for June 2017

• ERSTE BOND EMERGING MARKETS CORPORATE celebrates its 10th anniversary, generating a 6.35% p.a. since inception
• Political turmoil in Brasil: further evidence on President Temer’s corruption practices
• Immediate depreciation of the Roubel as oil price falls, also reflected in the decrease of the Gazprom bond price
• Flat performance of the asset class in June

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01.06.2017 - Emerging Markets Corporate Bonds Update for May 2017

• Positive trend for emerging markets corporate bonds has continued in May
• Moody’s downgraded the rating of China for the first time since 1989
• Political turmoil in Brazil
• Prudent stock picking is now more than ever the key to successfully manage in the current market environment

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01.05.2017 - Emerging Markets Corporate Bonds Update for April 2017

• Positive market developments due to robust inflows into the asset class and stable US yields
• High inventory levels in China and expected cool down of the Chinese real estate market
• Involvement in relative value trades because of weak market returns in absolute terms
• Chart of the month: Yield development Banco do Brasil 2022 vs. Caixa 2022

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01.04.2017 - Emerging Markets Corporate Bonds Update for March 2017

• Outperformance of the fund versus the benchmark
• Record high new emissions in the past quarter
• Rise in US shale oil drilling
• Meat scandal in Brazil provides opportunities

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01.03.2017 - Emerging Markets Corporate Bonds Update for February 2017

• Asset class performed positively in February
• “Mexico-premium” on IG bonds offers performance opportunities
• Brazilian company earnings in focus
• Shorter duration of portfolios prepares our strategies for further interest rate hikes

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Disclaimer

This document is an advertisement. All data is sourced from ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. and 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-SPARINVEST Kapitalanlagegesellschaft m.b.H. and 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) or the Information for Investors pursuant to § 21 AIFMG, especially the risk notices it or they contain, before making an investment decision.

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