FAQs
Information on services in the securities business in accordance with the Accessibility Act
Date: June 2025
ERSTE Immobilien Kapitalanlagegesellschaft m.b.H.: Am Belvedere 1, A-1100 Wien, Tel: +43 (0)5 0100 - 11632
On this page we describe services relating to the securities business. We explain the most important features and functions of our services. Where legally necessary, we occasionally use certain specialised terms provided for by law. We will then explain the terms. This page is for information purposes only. Legally, what is written in the contract you conclude with Erste Bank und Sparkasse or your principal bank applies.
The most important terms briefly explained
Investment funds collect investors' money. They invest the money according to their strategy, for example in
- securities
- money market instruments
- other investment funds
- demand deposits
- Callable deposits
- Derivative instruments
You buy shares in a professionally managed basket of securities. In contrast to buying a single share or bond, your success does not depend on just one position. If one security underperforms, it can be offset by a positive performance in other securities.
Open real estate funds and real estate investment funds pursuant to the Austrian 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.
In the case of asset management or portfolio management, we manage the securities portfolio for you. We may then buy and/or sell securities in your name and on the basis of the investment guidelines previously defined and agreed with you.
With a savings plan, you invest money in securities at regular intervals. You can pay the money once a month. However, you can also choose other intervals.
Information about funds
You can purchase investment fund units at your Erste Bank and Sparkasse as well as at any other bank. Your advisor will be happy to help you select a fund that is of interest to you. You can also buy funds independently on the Internet.
You can buy fund units with small amounts. The so-called s funds plan enables you to invest regularly from 50 euros per month. This allows you to participate in the international securities markets with small amounts.
Please note: The average cost effect decreases as the term of the savings plan increases. This means that the money saved behaves more and more as if you had invested the entire amount once. Depending on market developments, it may be more favourable to invest a larger amount once. An investment in securities offers opportunities, but also risks.
You can buy or sell Erste Asset Management's mutual funds almost every day. There are only a few exceptions. The price of a fund unit is calculated according to fixed and verifiable methods. More detailed information can be found in the key information documents and factsheets of the respective mutual funds.
Investment funds are special assets. If the investment fund company or the custodian bank becomes insolvent, the money remains in the fund. It is not part of the bankruptcy estate. Fund providers are constantly monitored and supervised, for example by the Austrian Financial Market Authority and external auditors.
The SRI is a risk indicator. It shows the risk of financial instruments. The SRI takes into account
- the volatility of a financial instrument (market risk)
- the solvency of the issuer (credit risk)
For investment funds, only the market risk counts. This is because investment funds are considered special assets. The solvency of the managing company plays no role. Guarantee funds are an exception. These funds are guaranteed by an external bank. The solvency of this bank is taken into account in the SRI. The SRI gives a rating on a scale of 1 to 7, with 1 being the lowest risk and 7 the highest risk.
The price or calculated value of a fund unit changes over time. It depends on the performance of the securities and assets in the fund. This calculated value is calculated every day. The calculated value includes the management fee. Other costs such as account and custody account fees are not included. To calculate the purchase price, the calculated value is increased by one-off purchase costs (such as issue premium and transaction costs).
You must generally pay capital gains tax (KESt) on income from investment funds. Income refers in particular to gains from the sale of securities, dividends and interest. As the custodian bank, Erste Bank und Sparkasse pays the capital gains tax directly to the tax office. You do not have to do anything else. Please note: Erste Bank und Sparkasse does not advise you on your personal tax issues. The tax implications of an investment always depend on your personal circumstances. Please contact your tax advisor.
In principle, you can sell your fund at any time. The recommended minimum holding period is legally required information in the key information document. It is determined on the basis of the asset class of the respective fund. The typical term and a qualitative assessment in each individual case are also taken into account. It is important to note that the holding period alone does not provide complete information about possible risks. The prospectus, the ‘Information for Investors pursuant to Section 21 AIFMG’ and the key information document must also be considered together.
Open real estate funds and real estate investment funds pursuant to the Austrian 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.
Important legal information
This document is an advertisement. Unless otherwise stated, the source of the data is Erste Asset Management GmbH and ERSTE Immobilien Kapitalanlagegesellschaft m.b.H. The language of communication at the sales offices is German and the languages of communication of the management companies also include English.
The prospectus for the UCITS fund (including any amendments) is published in accordance with the provisions of the InvFG 2011 in the currently amended version. The “Information for Investors pursuant to Article 21 AIFMG“ is prepared for the alternative investment funds (AIF) administered by Erste Asset Management GmbH pursuant to the provisions of the AIFMG in conjunction with the InvFG 2011.
The “Information for Investors pursuant to Article 21 AIFMG” is prepared for the alternative investment funds (AIF) administered by ERSTE Immobilien Kapitalanlagegesellschaft m.b.H. pursuant to the provisions of the AIFMG in conjunction with the ImmoInvFG and is published on the website at www.ersteimmobilien.at.
The latest versions of the prospectus, the “Information for Investors pursuant to Article 21 AIFMG” and the Key Information Document can be found on the website at www.erste-am.com or www.ersteimmobilien.at under “Mandatory publications” and can be obtained by interested investors free of charge at the offices of the respective management company and at the offices of the respective depositary bank.
The exact date of the most recent publication of the prospectus and the “Information for Investors pursuant to Article 21 AIFMG”, the languages in which the Key Information Document is available and any other places where the documents can be obtained are stated on the website at www.erste-am.com or www.ersteimmobilien.at. A summary of investor rights is available in German and English on the website at www.erste-am.com/investor-rights, as well as at the domicile of the management company.
The management company can decide to revoke the arrangements it has made for the distribution of share certificates abroad, taking into account the regulatory requirements.
Note: You are about to purchase a product that may be difficult to understand. We recommend that you read the above fund documents before making an investment decision. In addition to the places listed above, you can obtain these documents free of charge at the offices of the referring Sparkassen bank and the offices of Erste Bank der oesterreichischen Sparkassen AG. You can also access these documents electronically at www.erste-am.com or www.ersteimmobilien.at.
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, experience and knowledge, investment objective, financial position, capacity to sustain loss and risk appetite. Past performance is not a reliable indicator of the future performance of a fund.
Please note: Investments in securities entail risks in addition to the opportunities presented here. The value of shares and earnings can rise and fall. Changes in exchange rates may also have a positive or negative impact on the value of an investment. For this reason, you may get back less than the amount you originally invested when you redeem your shares.
Anyone who is interested in purchasing shares in investment funds is advised to read the current fund prospectus(es) and the “Information for Investors pursuant to Article 21 AIFMG”, especially the risk notices they contain, before making an investment decision. If the fund currency is different from the investor’s home currency, changes in the relevant exchange rate can positively or negatively influence the value of the investment and the costs associated with the fund in the home currency.
We are not permitted to offer, sell, transfer or deliver this financial product directly or indirectly to natural or legal persons whose place of residence or domicile is located in a country where this is legally prohibited. In this case, we may not provide any product information either.
Please see the corresponding information in the fund prospectus and the “Information for Investors pursuant to Article 21 AIFMG” for restrictions on the sale of the fund to American or Russian citizens.
It is expressly noted that this communication does not provide any investment recommendations, but only expresses our current market assessment. Therefore, this communication is not a substitute for investment advice.
This document is not a sales activity of the respective management company and therefore may not be construed as an offer for the purchase or sale of financial or investment instruments.
Erste Asset Management GmbH and ERSTE Immobilien Kapitalanlagegesellschaft m.b.H. are affiliated with the Erste Bank and austrian Sparkassen banks.
Please also read the “Information about us and our securities services” published by your bank.
Errors and misprints excepted.
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Media owner and publisher: ERSTE Immobilien KAG, Am Belvedere 1, 1100 Vienna
service@ersteimmobilien.at / www.ersteimmobilien.at / Place of publication: Vienna