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Kathrein Euro Inflation Linked Bond Fund report as of 05/23/2013
 
     
 
Fund profile
The Kathrein Euro Inflation Linked Bond fund invests primarily in Euro denominated inflation linked bonds of high quality issuers. This provides the fund protection against inflation in the Euro zone. The investment should provide real returns with relatively low risk. The medium to long-term goal of the fund is to achieve a return higher than the benchmark using quantitative models. Specifically a model will be used to determine the average maturity of the fund. The models success is based on the premises that capital market interest rates follow economic cycles and will therefore exhibit trends.
Fund data
ISIN: T: AT0000A0EZS1 | A: AT0000A0EZR3
NAV: T: 107.69 | A: 101.64 EUR
Launch date: 10/29/2009
Capital gains: 0.82 EUR
Ordinary income: 0.99 EUR
Total assets: 36,487,454.09 EUR
Dividend: 2.55 EUR (11/15/2012)
Fiscal year: 10/29-08/31
Operating costs: .87
Performance (10/29/2009 - 05/23/2013)
 
Source: Custodian Raiffeisen Bank International AG
Performance  
Month -0.55 %
Year to date -2.18 %
1 years 1.46 %
2 years (p.a.) 2.81 %
3 years (p.a.) 1.79 %
5 years (p.a.) -  
Since inception (p.a.) 2.64 %
     
Ratios    
Sharpe ratio 0.27  
Max. drawdown -6.64 %
Volatiltiy (in % p.a.) 4.92 %
     
 
 
 
Asset allocation
 
 
   
Maturities 100.00 %
0 - 3 years 19.87 %
3 - 5 years 35.24 %
5 - 7 years 19.50 %
7 - 10 years 25.39 %
10 - 30 years 0.00 %
   
Performance is calculated in accordance with the OeKB method based on data from the custodian. For performance data individual costs, such as the initial sales charge (a maximum of 3% of the amount invested) are not taken into consideration. Depending on the amount, those would decrease performance accordingly. Past performance is no indicator for future developments of a fund. Information subject to change.
Portfolio manager comments as of April 2013
The strength of the U.S. economy in the first quarter surprised many, but effects of the tax increases and government spending cuts began to show their toll in the March data. Nevertheless the March data cannot change the fact that the economy digested this fiscal burden surprisingly well. The hope of a second half recovery in Europe received a damper through the publication of the leading economic indicators. Euro-zone unemployment rose again to a new record of 12 %. With Cypress barely forgotten, the Slovenian banking sector’s problems popped up. The inflation rates in the US and in Europe declined to 1.5 % and 1.7 % respectively. The IMF continued to reduce growth expectations for 2013 to -0.3 % for the Euro-Zone and to 1.9 % for the US. The Italian government bond yields declined below 4 % for the first time since 2010 reflecting the market consensus positive outlook for Euro periphery countries. At the end of April Italy even put together a coaling government under the leadership of Enrico Lettas.
     
 
 
This document is for promotional purpose only and does not constitute an offer or recommendation for the purchase or sale of a financial instrument. The published brochure of this unit trust in its current form including all alterations since first release is at the applicants disposal at Kathrein Privatbank Aktiengesellschaft. For the correctness of the data cannot be taken over any adhesion despite careful investigation and registrations. Total Expense Ratio includes management fee, fund administration costs, custodian and other administrative costs as well audit fees.
 
  KATHREIN PRIVATBANK | privatbank@kathrein.at | www.kathrein.at
 
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