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Basic information
Definition
Open real estate funds and real estate investment funds pursuant to the Real Estate Investment Fund Act (ImmoInvFG) have been permitted in Austria since 1 September 2003. The primary objective of the ImmoInvFG is to protect investors. To this end, the law focuses especially on aspects of security, monitoring and publication requirements.An open real estate fund is comparable to an investment fund, but a real estate fund invests in real estate. The value of the shares is not determined by the market forces on the stock exchange, but is calculated by the custodian bank on the basis of the rental revenues, the assessed values of the properties, and on the basis of the liquid assets in the fund in accordance with the ImmoInvFG. Real estate funds are managed by a real estate investment company.
This document is an advertisement. We expressly draw your attention to the fact that a full prospectus in accordance with the Real Estate Investment Fund Act (Immobilien-Investmentfondsgesetz/Immo InvFG), Federal Law Gazette No. 80/2003) as amended and the general and special fund requirements can be viewed at the registered domicile of Erste Immobilien KAG (the issuer) and Erste Group Bank AG (the custodian bank). The prospectus will be published in the official gazette of Wiener Zeitung (Amtsblatt zur Wiener Zeitung) and on the web site of Erste Immobilien KAG (www.ersteimmobilien.at). All prospectuses can be viewed free of charge. We will willingly provide the exact date of publishing and other locations where prospectuses can be obtained on request. This document is neither intended as investment advice nor as a recommendation to make an investment. It is intended solely as a source of information for our investors and cannot replace personal advice provided to the investor on the basis of his or her individual expectations and circumstances. This document is based on the knowledge available to the persons who prepared the document at the time of preparation. Our analyses and conclusions are of a general nature and do not take into account the individual expectations and needs of our investors in terms of earnings, taxation or willingness to accept risk. Please note that an investment in securities also entails risks alongside the opportunities outlined above. Errors and misprints expected. ERSTE Immobilien Kapitalanlagegesellschaft m.b.H , Windmühlgasse 22-24 1060 Wien