ESPA BOND USA-CORPORATE - hozamplaza.hu fileESPA BOND USA-CORPORATE 2 General Information about the Investment Firm The company ERSTE-SPARINVEST Kapitalanlagegesellschaft m. b. H

ESPA BOND USA-CORPORATEMutual fund pursuant to the InvFG

Semi-Annual Report 2015


Contents

General Information about the Investment Firm ........................................................................................................ 2

Development of the Fund .............................................................................................................................................. 3

Asset Allocation ............................................................................................................................................................. 5

Fund Portfolio as of 31 August 2015 ........................................................................................................................... 6

The Austrian Investment Fund Act (Investmentfondsgesetz [InvFG]) 2011 has been in effect since 1 September 2011. Some of the provisions and legal references in the semi-annual report still refer to the InvFG 1993.

ESPA BOND USA-CORPORATE

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General Information about the Investment FirmThe company ERSTE-SPARINVEST Kapitalanlagegesellschaft m. b. H. Habsburgergasse 1a, A-1010 Vienna Telephone: +43 05 0100-19881, Fax: +43 05 0100-17102

Nominal capital EUR 4.50 million

Shareholders Erste Asset Management GmbH (81.48%) DekaBank Deutsche Girozentrale (2.87%) „Die Kärntner“ Trust-Vermögensverwaltungsgesellschaft m.b.H. & Co KG (2.87 %) NÖ-Sparkassen Beteiligungsgesellschaft m. b. H. (1.31%) Salzburger Sparkasse Bank Aktiengesellschaft (2.87%) Sieben Tiroler Sparkassen Beteiligungsgesellschaft m. b. H. (2.87%) Steiermärkische Bank und Sparkassen Aktiengesellschaft (5.73%)

Supervisory Board Wolfgang TRAINDL, Mag. (Chairman) Gerhard FABISCH, Mag. Dr. (Deputy Chairman) Wilhelm SCHULTZE, DI (Deputy Chairman) Franz PRUCKNER, Dr. MBA Birte QUITT, Dipl. BW. (FH) Rupert RIEDER, Mag. Gabriele SEMMELROCK-WERZER Reinhard WALTL, Mag. Appointed by the Works Council: Regina HABERHAUER, Mag. (FH) Dieter KERSCHBAUM, Mag. Gerhard RAMBERGER, Mag. Herbert STEINDORFER

Managing directors Heinz BEDNAR, Mag. Franz GSCHIEGL, Dr. Günther MANDL

Prokuristen (proxies) Achim ARNHOF, Mag. Karl BRANDSTÖTTER, Mag. Winfried BUCHBAUER, Mag. Karl FREUDENSCHUSS Dietmar JAROSCH, Dr. Manfred LENTNER Gerold Permoser, Mag. Christian SCHÖN Jürgen SINGER, Mag. State commissioners Erwin GRUBER Michael MANHARD, HR Dr. Auditor ERNST & YOUNG WIRTSCHAFTSPRÜFUNGSGESELLSCHAFT MBH

Custodian bank Erste Group Bank AG

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Dear Shareholder,

We are pleased to present you the following semi-annual report for the ESPA BOND USA-CORPORATE mutual fund pursuant to § 20 InvFG for the period from 1 March 2015 to 31 August 2015.

Development of the Fund

After a weak first quarter of 2015 (as evidenced by industrial production and international trade), the global economy began to see moderate growth. Around the world, development remained very divergent in the developed and emerging markets. The low commodity and energy prices, especially the low oil price, had a stimulating effect. The latter also caused a redistribution of income from the net oil exporters to the net oil importers. Geopolitical crises (Ukraine, Middle East) and the structural problems in some major emerging countries resulted in a risk of economic setbacks. These included rapid credit growth, dependence on exports, lower commodities prices, inadequate infrastructure, and reduced productivity growth and capital efficiency. In some cases, weaker domestic demand also hurt growth. Especially Brazil and Russia encountered difficulties. In China, the still relatively strong growth slowed. Influencing factors were the declining housing market and contracting output in heavy industry combined with the measures implemented by the leadership in Beijing to eliminate financial vulnerabilities and macroeconomic disparities. Substantial corrections on the overheated equity market caused uncertainty around the world, but have not yet had any effects on China’s real economy. The country still posted an enormous trade balance surplus. After a weak Q1 2015, the United States again progressed along its solid growth path. Despite the poor situation in the oil and gas industry, drivers here were private investment – primarily in the construction sector and private consumption. The latter was supported by a strong labour market, low inflation, and positive effects from financial and real estate assets. The trade balance had slipped into negative territory and had a negative effect at the end of the period. Japan only saw a gradual recovery because GDP shrunk somewhat from the first to second quarter of the year. Support came from the good employment figures, which boosted purchasing power, and from higher corporate earnings, which spurred investment. Great Britain’s strong recovery bounced back from the hiccup at the beginning of 2015, which came primarily from the construction industry. The services sector boomed while the processing industry stagnated.

In the euro currency area, the gross domestic product grew by 0.4% qoq. The upswing brought only a moderate climb, but the latest economic data show that it is sustainable. It was supported by foreign trade and domestic demand in equal measure. The low inflationary pressure had a positive effect on real incomes and thereby supported private consumption. There were also signs of increasing private investment. In foreign trade in the currency union, imports grew more substantially than exports. Internally, the grave national foreign trade disparities remained. Initial structural reforms and increasing trust in the Eurozone’s financial markets are having a positive effect on the real economy. Nevertheless, the gap between production output and production potential is not yet closed. One major reason for this was the high jobless rate, which declined only minimally to 10.9%. The sanctions against Russia due to the conflict with Ukraine, which also affected Europe, were counterproductive in economic terms. The consolidation of public budgets that began in recent years has largely come to a standstill, and the general fiscal policy orientation is presently neutral overall. Especially France and Italy lagged with regards to reforms. Developments became less divergent in the Eurozone. The trend was positive in most countries. Only France fell back into stagnation, and Greece was teetering on the brink of disaster. Spain and Ireland posted very positive development.

Monetary policy remained expansive in most major economies as inflation persisted at low levels around the world. A key reason for this was very low inflation due to slow growth in energy and commodity prices and substantial capacity reserves. Consumer price growth for the Eurozone slipped temporarily into negative territory and came in at 0.2% p.a. at the end of the period according to initial calculations, which is well below the ECB’s stability target of just under 2.0%. The pronounced fragmentation of the Eurozone made it difficult to employ a uniform monetary policy. The main refinancing rate was maintained at 0.05%, and the interest rate for the extremely short-term deposit facility at a negative 0.20%. The ECB presented a new instrument, targeted longer term refinancing operations. It again gradually


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expanded its balance sheet. To this end, the bank launched a buying programme for asset backed securities and covered bonds. It initiated a massive securities purchasing programme together with the national central banks to counter the threat of deflation. A total of roughly EUR 60 billion in securities are to be purchased every month at least until September 2016, primarily government paper but also securities from supranational issuers and from financing institutions for investment projects that are in the public interest, and other covered bonds. The monetary policy easing indirectly supported all asset classes and induced the shift from risk-free to riskier investment forms that was intended by the ECB. These steps further depressed the money market rates. For example, the three-month Euribor, which is an important reference value for many forms of variable-rate savings and credit, was at just minus 0.03% p.a. at the end of the reporting period; the deposit rates between the banks were even negative in general out to three months. This offered liquidity reduced financing pressure in the banking system, especially for the banks that have commitments in the ailing euro countries. Progress was also made in increasing the domestic deposit base. Nevertheless, the monetary transmission mechanism to the real economy was still only working to a limited extent for a long period because of the restrictive lending policies of the commercial banks and the uncertainty among potential borrowers. Credit dynamics at least improved slowly over the past months due to the noticeable decline in loan interest rates and less restrictive lending policies. The American Federal Reserve also applied a very expansive monetary policy. It kept the key interest rate in a corridor between 0.00% and 0.25%. It no longer expanded its bond holdings. Market participants began focusing more and more on the question of whether the first key rate hike would occur in September 2015 already. The Bank of Japan pursued a policy aimed at radically increasing the money supply. The monetary base, which consists of bank notes, coins, and banks’ minimum reserves and is the decisive measure of the money supply, was recently increased by 33.3% p.a.

Interest rates were low for the most part. The euro bond markets maintained their renewed stability. This was due to the accommodating measures of the ECB and improved fundamental economic data. After the market participants had already become relatively certain that the ECB would buy large volumes of government bonds, the actual entry of the ECB and national central banks onto the market in March still had a noticeable effect. April saw the start of a substantial counter-movement that lasted for around two months and that was caused by temporarily higher inflation expectations. This was also seen in inflation-protected bonds. Technical factors (including profit taking and moves to limit losses, limited liquidity, quantitative trading systems, and the like) amplified the trend. The ECB purchases pulled liquidity out of the market, which led to higher price volatility. Over the reporting period, the yield on a ten-year German government bond moved successively up from 0.05% in the Middle of April to 1.1%, and then closed the period at 0.8%. The risk premiums for weak debtor nations showed no clear trend, but remained somewhat volatile. The increasingly precarious political and budgetary situation in Greece then caused elevated volatility and risk premiums in June. Despite this, the bond markets were surprisingly relaxed compared with previous Greek “euro dramas”. Yields on ten-year Spanish and Italian government bonds were most recently 1.3 and 1.2 percentage points higher than for Germany. The AAA euro government bond yield curve was negative out to four years. It turned at around one year, and the movement was most pronounced in the 10- to 25-year segment. The yield increase starting in April caused corresponding price losses for euro bonds. US Treasuries posted yields well above those for high-quality euro government bonds, for example up to 1.9 percentage points higher than Germany for ten years. This was the result of a good economic outlook combined with expectations for an interest rate hike and the tapering of bond purchases by the Federal Reserve. Corporate paper at all rating levels profited from the liquidity supplied by the central banks.

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Investment policy

A key focus in the management of the fund’s portfolio (in terms of orientation) is ensuring the highest possible issuer ratings when selecting assets.

Interest rate derivatives were used to actively manage the fund’s duration during the reporting period.

The sector allocation focused mainly on two areas.During the phase where the hunt for yields was strong, the financial sector was overweighted compared with its benchmark. The main focus in this was placed on the “big six”, the six largest American banks (Wells Fargo, Morgan Stanley, Goldman Sachs, Citigroup, JP Morgan, and Bank of America). Because of the expected coming interest rate hikes by the Fed, this overweighting was gradually reduced.

The second focus was on the energy sector. After crude oil found solid ground at between USD 40 and 45 per barrel at the end of the reporting period, the underweighting was returned to the benchmark level, and the investments concentrated on the pipeline and refinery segments. Companies in the services and drilling segments (the latter of which is a costly business) were avoided. In addition, no investments were made in companies involved in oil fracking.

The fund achieved a performance of minus 3.1% in the reporting period. The average rating in the fund is currently BBB+.

Asset Allocation

31 August 2015 28 February 2015EUR millions % EUR millions %

Bonds denominated inUSD 419.2 93.49 521.4 91.81

Securities 419.2 93.49 521.4 91.81Financial futures - 0.0 - 0.01 - 23.4 - 4.12Forward exchange agreements - 9.9 - 2.20 - 2.5 - 0.44Cash in banks 34.8 7.76 67.3 11.85Interest entitlements 4.3 0.95 5.1 0.90Other deferred items - 0.0 - 0.00 - 0.0 - 0.00Fund assets 448.4 100.00 567.9 100.00


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Fund Portfolio as of 31 August 2015(including changes in securities assets from 1 March 2015 to 31 August 2015)

Security designation ISIN Purch./ Sales/ Holding Price Value % sharenumber additions disposals in EUR of

Shares/nominal (nom. in 1,000, rounded) fundassets

Publicly traded securities

Bonds denominated in USD

Issue country Australia

BHP BILLITON F. 12/42 US055451AR98 4.125000 0 1,000 2,000 89.690002 1,600,892.49 0.36Total 1,600,892.49 0.36

Issue country Cayman Islands

ALIBABA GR.HLDG 2019 144A US01609WAB81 2.500000 0 500 1,000 98.225998 876,626.49 0.20Total 876,626.49 0.20

Issue country Chile

BANCO DE CRED.INVER.12/17 USP32133CE16 3.000000 500 0 500 101.750000 454,038.38 0.10CENCOSUD 12/23 REG.S USP2205JAH34 4.875000 300 0 300 99.625000 266,733.60 0.06

Total 720,771.98 0.16

Issue country China

ICBC (NY) 2019 MTN US45580KAC27 3.231000 2,000 1,000 1,000 101.373001 904,712.19 0.20Total 904,712.19 0.20

Issue country France

CREDIT AGRI.2017 MTN 144A US22533D2A88 3.000000 0 1,000 500 102.760002 458,545.30 0.10ELEC.DE FRANCE 2039 144A US268317AC80 6.950000 0 0 3,000 131.792007 3,528,567.79 0.79

Total 3,987,113.09 0.89

Issue country Great Britain

ENSCO PLC 2020 US74153QAH56 6.875000 0 0 500 105.092003 468,951.38 0.10HSBC BANK 10/20 REGS USG4639DVV48 4.125000 0 1,500 2,500 107.278000 2,393,529.67 0.53SKY PLC 2018 US111013AH19 9.500000 0 0 1,000 120.862999 1,078,652.38 0.24SKY PLC 2024 US111013AL21 3.750000 0 0 500 96.203003 429,286.05 0.10

Total 4,370,419.48 0.97

Issue country India

ST.BK.O.INDIA(LDN.B) 2017 US85628UAC09 4.125000 0 0 500 103.310997 461,004.01 0.10ST.BK.O.INDIA(LDN.B) 2024 US85628UAF30 4.875000 0 0 1,000 104.463997 932,298.05 0.21

Total 1,393,302.06 0.31

Interestrate

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Interestrate

Issue country Ireland

MEDTRONIC 2025 144A US585055BM72 3.500000 1,000 0 1,000 99.593002 888,826.43 0.20Total 888,826.43 0.20

Issue country Italy

INTESA SANPAOLO 13/18 MTN US46115HAK32 3.875000 0 0 750 102.732200 687,631.86 0.15INTESA SANPAOLO 2018 US46115HAJ68 3.875000 0 1,000 1,000 102.674004 916,323.11 0.20

Total 1,603,954.97 0.36

Issue country Canada

CAN.PAC.RAILWAY 11/22 US13645RAP91 4.500000 0 0 500 106.361000 474,614.01 0.11CAN.PAC.RAILWAY 11/42 US13645RAQ74 5.750000 0 0 500 112.480003 501,918.80 0.11ENCANA 2019 US292505AH79 6.500000 0 0 500 109.453003 488,411.44 0.11RIO TINTO ALCAN 03/33 US013716AU93 6.125000 0 0 625 110.304001 615,261.05 0.14ROGERS COMMUNIC. 13/23 US775109AW17 3.000000 1,000 500 500 94.794998 423,003.11 0.09SUNCOR EN.INC. 2018 US86722TAA07 6.100000 0 0 500 110.593002 493,498.45 0.11

Total 2,996,706.86 0.67

Issue country Mexico

BANCO INBURSA 14/24 REGS USP13296AL53 4.125000 300 0 300 97.625000 261,378.85 0.06MEX.GEN.ENERGIA 12/32REGS USP66208AA02 5.500000 300 0 300 94.875000 249,983.56 0.06

Total 511,362.41 0.11

Issue country Netherlands

ABN AMRO BANK 2018 MTN US00084DAG51 2.500000 0 0 1,000 101.102997 902,302.52 0.20BHARTI AIRT.INTL(NL)2023 US08861JAA79 5.125000 0 0 1,500 105.000999 1,405,635.87 0.31DT.TELEK.INTL F. 2042 US25156PAR47 4.875000 1,500 300 1,200 99.745003 1,068,219.58 0.24ING BK NV 11/21 REGS USN4578BQA53 5.000000 0 4,035 500 111.199800 496,206.16 0.11

Total 3,872,364.13 0.86

Issue country Norway

SCHLUMBERGER NORGE 2021 US80685PAA66 4.200000 0 1,000 1,000 106.405998 949,629.61 0.21Total 949,629.61 0.21

Issue country Qatar

RAS LAF.L.N.GAS II 05/20 USM8221WAA91 5.298000 0 0 350 107.300000 191,947.78 0.04Total 191,947.78 0.04

Issue country Sweden

NORDEA BK 2021 MTN 144A US65557FAA49 4.875000 0 0 1,000 106.964996 954,618.44 0.21SVENSK.HDLSB. 12/17 MTN US86960BAB80 2.875000 0 0 1,000 102.535004 915,082.59 0.20

Total 1,869,701.03 0.42


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Interestrate

Issue country USA

21ST CENTURY FOX AM. 2034 US90131HBF10 6.200000 1,000 500 500 112.553001 502,244.54 0.1121ST CENTURY FOX AM.09/19 US90131HAN52 6.900000 2,000 500 1,500 114.220001 1,529,049.55 0.34ALLSTATE 13/43 US020002BA86 4.500000 0 0 1,000 100.112000 893,458.28 0.20AMER.HONDA F. 12/17 REGS US02666RBB69 1.500000 0 0 125 100.760000 112,405.18 0.03AMER.HONDA F.2020 144A US02666QG728 3.875000 0 0 500 106.841003 476,755.93 0.11ANTHEM 13/44 US94973VBF31 5.100000 0 500 1,500 101.667000 1,361,004.02 0.30ARCHER DAN. MID. 12/43 US039483BH46 4.016000 1,500 0 1,500 95.741997 1,281,686.71 0.29AVALONBAY COMM. 2023 MTN US05348EAT64 4.200000 1,000 500 500 104.516998 466,385.53 0.10BAXALTA 2045 144A US07177MAE30 5.250000 500 0 500 100.572998 448,786.25 0.10BAXTER INTL 12/22 US071813BF59 2.400000 500 0 500 94.970000 423,784.02 0.09BB+T 2019 MTN US05531FAQ63 2.250000 0 0 1,000 100.516998 897,072.72 0.20BEMIS COMPANY INC. 2021 US081437AH87 4.500000 0 0 1,000 106.125000 947,121.82 0.21BERKSHIRE HATH.ERGY 06/36 US59562VAM90 6.125000 0 0 1,000 118.299004 1,055,769.78 0.24BK OF NY MELLON 2017 MTN US06406HCA59 2.400000 0 500 1,000 101.487000 905,729.59 0.20BOOMERANG SYS INC. 2033F * US257469AJ58 5.250000 0 0 1,000 107.060997 951,570.70 0.21BOTTLING GROUP 2019 US10138MAK18 5.125000 1,000 1,200 500 110.283997 492,119.58 0.11BURLINGTON NORTHERN 2021 US12189LAD38 4.100000 0 0 1,104 106.420998 1,048,538.88 0.23CAMDEN PTY TR. 2023 US133131AS17 4.875000 500 0 500 108.055000 482,173.14 0.11CAPITAL ONE BANK 2018 US140420NE62 2.150000 0 1,000 1,000 99.216003 885,461.87 0.20CBS CORP. 00/30 US925524AH30 7.875000 0 0 1,000 128.278000 1,144,828.20 0.26CNA FIN. 2021 US126117AR10 5.750000 0 0 1,000 112.792000 1,006,622.04 0.22COL.PIP.GRP 2020 144A US198280AC33 3.300000 500 0 500 99.805000 445,359.21 0.10COL.PIP.GRP 2045 144A US198280AG47 5.800000 1,000 0 1,000 96.028000 857,010.26 0.19COMCAST 07/37 US20030NAV38 6.950000 0 500 2,000 130.580994 2,330,762.95 0.52CONAGRA FOOD 13/43 US205887BS00 4.650000 500 0 500 86.992996 388,188.29 0.09CVS HEALTH 12/22 US126650BZ20 2.750000 0 500 1,000 97.342003 868,737.20 0.19DAIMLER FIN.N.A.2020 144A US233851BR47 2.250000 1,000 0 1,000 97.602997 871,066.46 0.19DEERE -JOHN- CAP.2021 MTN US24422ERH44 3.150000 0 200 1,300 102.453003 1,188,655.99 0.27DEVON ENERGY 11/41 US25179MAL72 5.600000 0 1,500 1,000 101.609001 906,818.39 0.20DEVON ENERGY 12/22 US25179MAP86 3.250000 0 2,000 1,000 96.526001 861,454.72 0.19DIRECTV HLDGS/FING 09/19 US25459HAU95 5.875000 0 500 1,000 111.880997 998,491.72 0.22DIRECTV HLDGS/FING 12/17 US25459HBE45 2.400000 0 1,000 1,000 100.654999 898,304.32 0.20DIRECTV HLDGS/FING 12/42 US25459HBG92 5.150000 0 0 1,000 94.391998 842,409.62 0.19DISCOVERY COMM. 12/22 US25470DAF69 3.300000 0 0 1,500 98.077003 1,312,945.16 0.29DISCOVERY COMM. 12/42 US25470DAG43 4.950000 500 0 500 86.402000 385,551.09 0.09DOMINION RES.(NEW) 2021 US25746UBL26 4.450000 0 500 500 106.422997 474,890.66 0.11DOMINION RES.(NEW) 2041 US25746UBM09 4.900000 0 500 500 101.435997 452,637.21 0.10DTE EN. CO. 2024 C US233331AS62 3.500000 0 0 500 99.586998 444,386.43 0.10DUKE ENERGY 14/24 US26441CAN56 3.750000 0 0 500 101.071999 451,012.94 0.10DUKE ENERGY CAROL. 2041 US26442CAM64 4.250000 0 500 500 100.129997 446,809.45 0.10DUKE ENERGY FLORIDA 2021 US341099CP25 3.100000 0 0 150 102.763000 137,567.60 0.03ENABLE MIDS.PART. 2019 US292480AA83 2.400000 0 0 500 94.065002 419,745.66 0.09ENABLE MIDS.PART. 2024 US292480AC40 3.900000 0 1,000 1,000 87.903000 784,497.99 0.17ENERGY TRANS.P. 2021 US29273RAN98 4.650000 0 500 1,500 101.035004 1,352,543.56 0.30ENTERPR.PROD.OP.2033 US293791AF64 6.875000 0 0 140 115.144997 143,867.02 0.03ENTERPR.PRODS OP. 2023 US29379VAZ67 3.350000 0 0 500 95.586998 426,537.25 0.10ERP OPERATING 2020 US26884AAY91 4.750000 500 0 500 109.199997 487,282.45 0.11EXELON GENERAT. 2019 US30161MAF05 5.200000 0 0 500 110.044998 491,053.09 0.11

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Interestrate

EXELON GENERAT. 2039 US30161MAG87 6.250000 0 500 1,500 107.592003 1,440,321.33 0.32EXPR.SCRIP.HD.2041 US30219GAG38 6.125000 0 500 500 114.137001 509,312.82 0.11FMR LLC 2033 144A US30251BAD01 4.950000 0 0 1,000 105.598999 942,427.48 0.21FREEPORT-MCMORAN 2023 US35671DAX30 3.875000 0 0 300 77.000000 206,157.97 0.05FRST TENNESSEE BK 2019 US337158AF66 2.950000 0 500 1,500 100.355003 1,343,440.47 0.30GENL MILLS 11/21 US370334BM56 3.150000 0 0 1,000 100.846001 900,008.93 0.20GEORGIA POWER 2039 US373334JN28 5.950000 0 200 1,800 113.236000 1,819,052.21 0.41GLENCORE FDG 2023 144A US378272AF53 4.125000 0 500 1,000 89.962997 802,882.61 0.18HARLEY DAV.FIN.S. 2019 US41283LAD73 2.400000 0 0 500 100.579002 448,813.04 0.10HEALTH CARE REIT 2017 US42217KAT34 4.700000 0 500 1,000 105.478996 941,356.50 0.21HESS CORP. 09/19 US42809HAB33 8.125000 0 0 500 116.518997 519,941.98 0.12HIGHWOODS REALTY 2021 US431282AN25 3.200000 1,000 500 1,500 98.573997 1,319,598.36 0.29HUNTINGTON BCS. 2018 US446150AH79 2.600000 0 0 500 100.900002 450,245.44 0.10HUNTINGTON NATL BK 2020 US446438RM77 2.400000 0 500 1,000 98.519997 879,250.31 0.20INTL PAPER 11/22 US460146CG68 4.750000 0 0 700 106.468002 665,128.08 0.15JEFFERIES GROUP 13/43 US472319AM43 6.500000 0 500 500 94.033997 419,607.31 0.09JEFFERIES GROUP 2018 US472319AK86 5.125000 0 400 3,600 105.440002 3,387,630.58 0.76KEYSIGHT TECHS 2024 144A US49338LAA17 4.550000 1,000 0 1,000 96.369003 860,053.57 0.19KILROY REALTY L.P. 2029 US49427RAK86 4.250000 500 0 500 95.568001 426,452.49 0.10KIMCO REALTY 13/23 US49446RAK59 3.125000 0 0 1,000 96.389000 860,232.04 0.19KIMCO REALTY 2017 US49446RAH21 5.700000 0 0 500 106.714996 476,193.65 0.11KINDER M.E.PARTNERS 2037 US494550AV85 6.500000 0 0 1,000 96.220001 858,723.79 0.19KROGER CO. 08/38 US501044CK58 6.900000 1,000 0 1,000 125.757004 1,122,329.35 0.25KROGER CO. 2021 US501044CZ28 2.950000 0 0 1,500 98.668999 1,320,870.14 0.29LIBERTY MUT.GRP 2022 144A US53079EAW49 4.950000 0 500 1,000 106.719002 952,423.04 0.21LIBERTY PTY LTD 12/23 US53117CAP77 3.375000 1,000 500 500 96.335999 429,879.52 0.10MACY'S RETAIL HOL. 12/22 US55616XAF42 3.875000 0 500 1,500 101.527000 1,359,129.85 0.30MARATHON OIL 2022 US565849AK29 2.800000 0 500 1,500 90.523003 1,211,820.66 0.27MEDTRONIC 13/23 US585055AZ94 2.750000 0 0 1,000 96.390999 860,249.88 0.19MEDTRONIC 2045 144A US585055BP04 4.625000 2,000 500 1,500 102.252998 1,368,848.70 0.31METLIFE 2043 US59156RBG20 4.875000 0 0 1,000 104.960999 936,733.59 0.21METLIFE INC 09/69 FLR US59156RAV06 10.750000 0 500 1,000 157.400000 1,404,730.03 0.31METROP.L.GL FDG I 2019 US59217GBF54 2.300000 0 500 1,000 100.677002 898,500.69 0.20MYLAN N.V. 2018 US628530AX57 2.600000 1,000 0 1,000 99.570999 888,630.07 0.20NATL RETAIL PPTYS 2024 US637417AG16 3.900000 0 0 500 99.598000 444,435.52 0.10NBCUNIVERS.MEDIA 11/16 US63946BAC46 2.875000 0 0 100 101.280000 90,388.22 0.02NIAGARA MOHAWK PWR 2019 US65364UAA43 4.881000 0 0 150 108.974998 145,883.53 0.03NORDSTROM INC. 14/44 US655664AR15 5.000000 0 500 1,000 105.337997 940,098.14 0.21NORFOLK SOUTHERN 13/43 US655844BN78 4.800000 0 200 1,700 98.731003 1,497,926.86 0.33NORTH.ST.PWR MIN. 2023 US665772CK34 2.600000 500 0 500 97.182999 433,659.08 0.10OMNICOM GRP 12/22 US681919AZ97 3.625000 0 1,000 1,000 99.035004 883,846.53 0.20PACKAG.CORP.AM. 2022 US695156AP42 3.900000 0 0 500 100.564003 448,746.11 0.10PENSKE TR./PTL F.C. 2022 US709599AS35 3.375000 1,000 0 1,000 96.939003 865,140.59 0.19PFIZER INC. 2028 US71713UAW27 6.600000 1,000 0 1,000 127.955002 1,141,945.58 0.25PG + E CORP. 2021 US694308GW13 3.250000 0 0 1,400 101.882004 1,272,956.77 0.28PHILIP MORRIS INTL 12/42 US718172AP42 4.500000 0 0 1,000 99.461998 887,657.28 0.20PLAINS AM.P.L.P 2021 US72650RAY80 5.000000 0 500 1,000 105.630997 942,713.05 0.21PNC BANK N.A. 2018 MTN US69349LAE83 6.875000 0 0 500 111.564003 497,831.34 0.11PNC FDG 2020 US693476BL68 4.375000 0 500 500 108.065002 482,217.77 0.11POTOMAC EL. PWR 2038 US737679DC18 7.900000 0 0 1,000 149.862000 1,337,456.49 0.30


10



Interestrate

PRES.+FELL.HA.COL. 2038 US740816AD59 5.625000 0 0 500 125.300000 559,125.39 0.12PROLOGIS 13/19 US74340XAV38 2.750000 0 500 1,000 101.134003 902,579.23 0.20PROLOGIS 13/23 US74340XAW11 4.250000 500 0 500 102.695999 458,259.71 0.10PRUDENTIAL FINL 2020 MTN US74432QBP90 4.500000 0 500 1,500 108.666000 1,454,698.80 0.32REGENCY CENTERS 2021 US75884RAS22 4.800000 0 0 500 108.664001 484,890.68 0.11REGIONS FINL (NEW) 13/18 US7591EPAJ95 2.000000 0 0 1,000 99.473999 887,764.38 0.20ROCKWOOD SP.GRP 12/20 US774477AJ29 4.625000 0 0 500 103.750000 462,962.96 0.10ROPER TECHNOLOGIES 12/22 US776696AE65 3.125000 0 0 1,000 97.959000 874,243.64 0.19SEMPRA ENERGY 08/19 US816851AK54 9.800000 0 0 500 124.010002 553,369.04 0.12SIMON PROP.GRP 10/40 US828807CE50 6.750000 0 0 500 129.472000 577,742.08 0.13SIMON PROP.GRP 14/24 US828807CR63 3.750000 0 500 500 101.556999 453,177.15 0.10SMUCKER -J.M.- 2035 144A US832696AL26 4.250000 500 0 500 93.297997 416,323.06 0.09SOUTH CAROL.EL.GAS 2042 US837004CF51 4.350000 0 0 1,000 97.070999 866,318.60 0.19SOUTHERN POWER 2041 A US843646AH38 5.150000 0 0 500 100.153000 446,912.09 0.10SOUTHWESTERN EN.08/18 US845467AE99 7.500000 0 500 1,500 108.334000 1,450,254.35 0.32SUNOCO LOG.P.O. 2023 US86765BAL36 3.450000 0 2,500 1,000 90.250999 805,452.91 0.18SYMANTEC 12/17 US871503AJ70 2.750000 0 0 500 100.281998 447,487.72 0.10TANGER PROP. 2020 US875484AF45 6.125000 500 0 500 113.737999 507,532.35 0.11TEXAS GAS TR. 2021 144A US882440AX83 4.500000 0 200 1,300 99.778000 1,157,620.71 0.26U.S. BANCORP 2019 MTN US91159HHH66 2.200000 0 500 2,500 101.186996 2,257,630.43 0.50U.S. BANCORP 2022 MTN US91159HHC79 3.000000 0 500 2,000 101.058998 1,803,819.69 0.40UNION PACIFIC 2023 US907818DM74 2.950000 0 1,000 1,000 97.981003 874,440.01 0.20UNION PACIFIC 2044 US907818DT28 4.821000 0 0 500 106.889000 476,970.10 0.11UNITEDHEALTH GRP 11/41 US91324PBU57 4.625000 0 500 1,000 100.980003 901,204.85 0.20UNITEDHEALTH GRP 13/23 US91324PCC41 2.875000 0 500 1,500 97.416000 1,304,096.39 0.29V.F. CORP. 2021 US918204AV00 3.500000 0 0 500 104.955002 468,340.04 0.10VALERO ENERGY CORP. 2020 US91913YAR18 6.125000 0 0 500 112.515999 502,079.43 0.11VOLKSW.GRP AM. 2019 144A US928668AB85 2.125000 0 1,000 1,000 99.235001 885,631.42 0.20WAL-MART STRS 2018 US931142DJ92 1.950000 0 1,000 3,000 101.186996 2,709,156.52 0.60WELLS FARGO 2017 MTN US92976GAH48 6.000000 0 500 2,500 109.249001 2,437,505.60 0.54WELLS FARGO BK 06/36 US94980VAG32 5.950000 0 0 250 119.615997 266,880.85 0.06WILLIAMS PRTNRS 2010/40 US96950FAF18 6.300000 1,000 500 500 96.041000 428,563.14 0.10WRIGLEY -WM- JR.2019 144A US982526AV72 2.900000 500 0 500 101.705002 453,837.58 0.10WRIGLEY -WM- JR.2020 144A US982526AQ87 3.375000 500 0 500 102.581001 457,746.55 0.10

Total 112,519,651.81 25.09

Issue country British Virgin Islands

CNOOC FIN. 2021 144A US12621VAA35 4.250000 1,000 500 1,500 103.999001 1,392,222.24 0.31CNPC GENL CAP. 14/19 XS1143081963 2.700000 500 0 500 99.744250 445,088.13 0.10COSL FIN.(BVI) 2022 144A US12624LAA26 3.250000 0 1,500 500 93.989998 419,410.97 0.09GTL T.FIN./GER.HLDG 14/24 USG24422AA83 5.893000 1,000 0 1,000 87.375000 779,785.81 0.17MEGA ADV.INV. 11/21 REGS USG59606AA46 5.000000 500 0 650 107.159500 621,630.30 0.14

Total 3,658,137.45 0.82Total bonds denominated in USD translated at a rate of 1.120500 142,916,120.26 31.87

Total publicly traded securities 142,916,120.26 31.87

11




Interestrate

Securities admitted to organised markets



A.N.Z. BKG GRP (NY) 2019A US05253JAG67 2.250000 0 1,000 1,000 100.422997 896,233.80 0.20COMMONW.BK AUSTR09/19REGS US2027A1DJ35 5.000000 0 500 1,500 110.970000 1,485,542.17 0.33MACQUARIE BK 12/17 MTN US55608RAA86 5.000000 0 0 1,000 104.990000 936,992.41 0.21RIO TINTO FINANCE 2040 US767201AL06 5.200000 0 500 500 100.114998 446,742.52 0.10WESTPAC BKG 09/19 US961214BK83 4.875000 0 500 1,000 109.690002 978,937.99 0.22

Total 4,744,448.89 1.06

Issue country Brazil

BCO BRADESCO(KY) 12/17MTN US05947LAN82 4.500000 300 0 300 102.900000 275,502.01 0.06BCO BRADESCO(KY) 12/22 USG0732RAG32 5.750000 0 0 250 98.250000 219,210.17 0.05BCO DO BRASIL SA 10/21 USP3772WAB83 5.375000 300 0 300 93.650000 250,736.28 0.06COM.BRAS.D.ALUMINIO 14/24 USP3059UAA80 4.750000 500 0 500 90.625000 404,395.36 0.09ITAU UNIBCO HDG 10/21 MTN US46556MAB81 5.750000 500 0 500 98.350000 438,866.58 0.10SAMARCO MIN. 12/22 REGS USP84050AA46 4.125000 1,500 1,000 500 86.375000 385,430.61 0.09

Total 1,974,141.01 0.44


BAIDU 14/19 US056752AD07 2.750000 1,000 500 500 98.894997 441,298.52 0.10BRASKEM FIN. 11/21 REGS USG1315RAD38 5.750000 300 0 300 91.030000 243,721.55 0.05HUTCH.W.I.(14) 14/24 REGS USG46747AB00 3.625000 1,000 0 1,000 98.260880 876,937.80 0.20TENCENT HLDGS 2019 MTN US88032WAB28 3.375000 0 500 1,000 101.216003 903,311.05 0.20VALE OVERSEAS 2022 US91911TAM53 4.375000 500 0 500 92.730003 413,788.51 0.09

Total 2,879,057.43 0.64

Issue country Chile

CORPBANCA 14/19 REGS USP3143KEZ95 3.875000 500 0 500 101.875000 454,596.16 0.10EMPRESA NAC.PET.10/20REGS USP37110AF39 5.250000 300 0 300 106.250000 284,471.22 0.06TELEFONICA CL.12/22 REGS USP9047EAA66 3.875000 500 0 500 97.510000 435,118.25 0.10

Total 1,174,185.63 0.26


AXA S.A. 00/30 US054536AA57 8.600000 0 0 500 134.000000 597,947.34 0.13BNP PARIBAS/US 12/17 MTN US05567L7E16 2.375000 0 1,500 1,000 101.194000 903,114.68 0.20BNP PARIBAS/US 2024 MTN US05579T5G71 4.250000 0 0 1,000 99.786003 890,548.89 0.20ELEC.DE FRANCE 10/20REGS USF2893TAD84 4.600000 0 0 500 108.945000 486,144.58 0.11ORANGE 14/19 US685218AA79 2.750000 1,000 0 1,000 101.931999 909,701.02 0.20ORANGE 14/44 US685218AB52 5.500000 500 0 500 106.997002 477,452.04 0.11TOTAL CAP.INTL 12/17 US89153VAC37 1.550000 0 1,000 500 100.551003 448,688.10 0.10TOTAL CAP.INTL 12/22 US89153VAB53 2.875000 0 0 1,000 98.931000 882,918.34 0.20TOTAL CAP.INTL 14/24 US89153VAL36 3.750000 0 0 1,000 101.836998 908,853.17 0.20

Total 6,505,368.16 1.45


12



Interestrate


ASTRAZENECA PLC 07/37 US046353AD01 6.450000 0 1,500 1,000 127.436996 1,137,322.59 0.25BP CAP.MKTS 09/19 US05565QBJ67 4.750000 0 0 1,000 108.973000 972,539.05 0.22BP CAP.MKTS 12/22 US05565QBZ00 3.245000 0 1,000 1,500 99.238998 1,328,500.64 0.30BP CAP.MKTS 14/24 US05565QCP19 3.814000 0 500 1,500 100.592003 1,346,613.16 0.30BRIT. TELECOMM. 14/19 US111021AK71 2.350000 600 0 600 99.669998 533,708.16 0.12DIAGEO CAPITAL 13/23 US25243YAU38 2.625000 0 500 1,500 95.261002 1,275,247.68 0.28HSBC HLDGS 08/38 US404280AJ87 6.800000 0 300 700 122.134003 762,996.89 0.17HSBC HLDGS 14/24 US404280AP48 4.250000 0 1,000 1,500 100.209999 1,341,499.32 0.30LLOYDS BANK 11/21 US539473AH14 6.375000 0 0 1,000 118.264999 1,055,466.30 0.24PRUDENTIAL PLC 03/UND. XS0170488992 6.500000 0 0 300 101.789000 272,527.44 0.06RBS PLC 11/21 US78010XAK72 6.125000 0 0 1,000 116.070000 1,035,876.84 0.23RIO TINTO FIN.USA 13/18 US76720AAM80 2.250000 1,000 0 1,000 99.289001 886,113.35 0.20VODAFONE GRP 13/18 US92857WBE93 1.500000 1,000 0 1,000 98.626999 880,205.26 0.20WPP FINANCE 10 13/43 US92936MAE75 5.625000 500 0 500 103.822998 463,288.70 0.10

Total 13,291,905.38 2.96

Issue country Guernsey Islands

CS GRP FIN.(GG)15/25 REGS USG25417AA79 3.750000 1,000 0 1,000 97.530000 870,414.99 0.19Total 870,414.99 0.19

Issue country India

ICICI BK(HK BR.) 10/20 USY3860XAC75 5.750000 500 0 500 111.929700 499,463.19 0.11Total 499,463.19 0.11

Issue country Ireland

XL GROUP 2024 US98372PAG37 6.375000 0 0 500 118.146004 527,202.16 0.12Total 527,202.16 0.12

Issue country Japan

MIZUHO BANK 15/20 REGS USJ46186BA93 2.400000 2,000 200 1,800 100.425000 1,613,253.01 0.36SUMIT.MITSUI 2017 US865622BL73 1.350000 2,000 500 1,500 99.467003 1,331,552.92 0.30

Total 2,944,805.93 0.66


BARRICK GOLD 2023 US067901AQ17 4.100000 0 1,500 1,000 88.427002 789,174.49 0.18BK NOVA SCOTIA 11/16 US064149D876 2.900000 0 500 1,000 101.335000 904,373.05 0.20CDN NATURAL RES 07/17 US136385AK78 5.700000 0 0 1,000 105.788002 944,114.25 0.21CNOOC NEXEN FI. 14/44 US12591DAD30 4.875000 0 500 1,000 103.678001 925,283.36 0.21ENBRIDGE 14/44 US29250NAJ46 4.500000 0 500 500 76.636002 341,972.34 0.08ROYAL BK CDA 13/18 MTN US78008S7D27 2.200000 0 1,000 1,500 100.934998 1,351,204.79 0.30SUNCOR ENERGY (NEW) 2024 US867224AA59 3.600000 0 0 1,000 97.720001 872,110.67 0.19TRANSCDA P.L. 12/22 US893526DM20 2.500000 0 0 500 93.338997 416,506.02 0.09

Total 6,544,738.97 1.46

13




Interestrate

Issue country Kazakhstan

KAZMUNAYGAS 13/23MTN REGS XS0925015074 4.400000 0 0 250 88.250000 196,898.71 0.04Total 196,898.71 0.04

Issue country Colombia

BANCOLOMBIA 11/21 US05968LAG77 5.950000 300 0 300 106.375000 284,805.89 0.06BCO DE BOGOTA 13/23 REGS USP09252AC47 5.375000 300 0 300 100.125000 268,072.29 0.06

Total 552,878.18 0.12

Issue country Republic of Korea

KOREA GAS 14/24 REGS MTN US50066CAG42 3.875000 500 0 500 104.759325 467,466.87 0.10Total 467,466.87 0.10

Issue country Luxembourg

ACTAVIS FNDG 15/18 US00507UAM36 2.350000 1,000 0 1,000 99.924004 891,780.49 0.20ACTAVIS FNDG 15/22 US00507UAR23 3.450000 1,000 0 1,000 97.705002 871,976.81 0.19ACTAVIS FNDG 15/25 US00507UAS06 3.800000 2,500 1,000 1,500 96.778000 1,295,555.56 0.29ACTAVIS FNDG 15/45 US00507UAU51 4.750000 1,000 0 1,000 91.202003 813,940.23 0.18SCHLUMBERGER IN. 2023 US806854AH81 3.650000 0 500 1,000 102.015999 910,450.68 0.20TELECOM ITAL.CAP. 06/36 US87927VAR96 7.200000 0 0 1,000 110.436996 985,604.61 0.22

Total 5,769,308.38 1.29

Issue country Mexico

PET. MEX. 12/44 US71654QBE17 5.500000 0 0 1,000 86.525002 772,199.93 0.17PET. MEX. 14/25 MTN REGS US71656MBA62 4.250000 2,000 1,000 1,000 94.860000 846,586.35 0.19PET. MEX. 15/20 MTN REGS US71656MBC29 3.500000 3,000 1,500 1,500 99.278000 1,329,022.76 0.30

Total 2,947,809.04 0.66


DT.TELEK.INTL F. 09/19 US25156PAN33 6.000000 0 0 500 113.944000 508,451.58 0.11ING BK NV 13/23 MTN XS0995102778 4.125000 0 500 1,500 102.590000 1,373,360.11 0.31LUKOIL INTL FIN. 13/18 XS0919502434 3.416000 0 200 500 96.000000 428,380.19 0.10RABOBK NED.(UTR.BR.)11/21 US21685WBT36 4.500000 0 1,000 1,000 109.059998 973,315.47 0.22RABOBK NEDERLD 13/43 US21684AAB26 5.750000 0 2,000 2,000 108.549004 1,937,510.11 0.43SHELL INTL FIN. 09/19 US822582AJ10 4.300000 0 0 1,000 107.984001 963,712.64 0.21SHELL INTL FIN. 12/23 US822582AV48 2.250000 0 0 500 94.709000 422,619.37 0.09

Total 6,607,349.47 1.47


DNB BANK 12/17 MTN REGS XS0765615678 3.200000 0 625 500 102.669800 458,142.79 0.10STATOIL ASA 13/43 US85771PAL67 3.950000 0 500 1,000 93.571999 835,091.47 0.19STATOIL ASA 2041 US85771PAE25 4.250000 0 0 1,000 97.219002 867,639.46 0.19

Total 2,160,873.72 0.48


14



Interestrate

Issue country Austria

ERSTE GP BNK 14/25MTNFLR XS1143333109 5.500000 0 0 1,000 97.313000 868,478.36 0.19Total 868,478.36 0.19

Issue country Peru

BBVA BCO CONT. 13/18 REGS USP16236AF16 3.250000 200 0 200 102.000000 182,061.58 0.04BCO CRED.DEL PERU 10/20 USP09646AC75 5.375000 200 0 200 108.500000 193,663.54 0.04BCO INTL.D.P. 10/20 REGS USP1342SAC00 5.750000 200 0 200 108.125000 192,994.20 0.04

Total 568,719.32 0.13

Issue country Switzerland

CREDIT SUISSE 2020 MTN US22546QAF46 4.375000 0 0 1,000 108.703003 970,129.43 0.22Total 970,129.43 0.22

Issue country Spain

TELEFONICA EM. 06/36 US87938WAC73 7.045000 0 500 1,500 122.362000 1,638,045.52 0.37Total 1,638,045.52 0.37

Issue country USA

ABBOTT LABS 10/20 US002824AW02 4.125000 0 1,000 1,000 108.097000 964,721.11 0.22ABBVIE 15/25 US00287YAQ26 3.600000 1,500 500 1,000 98.446999 878,598.83 0.20ABBVIE 15/45 US00287YAS81 4.700000 1,000 500 500 96.634003 431,209.30 0.10ALCOA INC. 2020 US013817AU59 6.150000 0 0 500 106.250000 474,118.70 0.11ALTRIA GROUP 12/22 US02209SAN36 2.850000 0 500 2,000 96.205002 1,717,179.87 0.38AMAZON.COM 14/21 US023135AM87 3.300000 0 500 1,500 101.961998 1,364,953.12 0.30AMER. INTL GRP 12/22 US026874CU91 4.875000 0 800 1,000 109.099998 973,672.45 0.22AMER.EXPR.CR.14/19 MTN US0258M0DK23 2.125000 0 500 1,500 99.657997 1,334,109.74 0.30AMER.INTL GRP 2016 MTN US02687QBC15 5.600000 0 0 1,054 104.753998 985,370.05 0.22AMGEN 09/39 US031162BA71 6.400000 0 1,000 500 118.897003 530,553.34 0.12AMGEN 12/17 US031162BQ24 2.125000 0 0 2,000 100.970001 1,802,231.16 0.40AMGEN 2041 US031162BE93 4.950000 0 500 1,000 98.628998 880,223.10 0.20ANADARKO PET. 2019 US032511BF31 6.950000 1,000 0 1,000 113.121002 1,009,558.25 0.23ANH.-BUSCH INBEV 10/20 US03523TAN81 5.375000 0 1,500 1,500 112.181000 1,501,753.68 0.33ANHEUSER-BUSCH IN. 14/24 US03524BAE65 3.700000 0 0 1,000 102.568001 915,377.07 0.20ANHEUSER-BUSCH IN. 14/44 US03524BAF31 4.625000 0 5,500 500 101.790001 454,216.88 0.10ANTHEM 14/19 US94973VBH96 2.250000 0 0 500 98.318001 438,723.79 0.10ANTHEM 14/24 US94973VBJ52 3.500000 1,000 500 500 96.767998 431,807.22 0.10APACHE 12/44 US037411BC83 4.250000 0 0 500 84.667999 377,813.48 0.08APPLE 13/18 US037833AJ95 1.000000 0 500 2,000 98.898003 1,765,247.71 0.39APPLE 13/23 US037833AK68 2.400000 0 500 2,000 95.468002 1,704,025.02 0.38APPLE 13/43 US037833AL42 3.850000 0 500 1,000 91.211998 814,029.43 0.18APPLE 14/24 US037833AS94 3.450000 200 0 1,200 101.796997 1,090,195.41 0.24AT + T 07/38 US00206RAG74 6.300000 0 1,000 1,000 109.379997 976,171.33 0.22AT + T 11-21 US00206RAX08 4.450000 0 500 2,000 105.445000 1,882,106.20 0.42AT + T 12/17 US00206RBF82 1.700000 0 1,000 1,000 99.891998 891,494.85 0.20

15




Interestrate

AT + T INC. 04/34 US78387GAQ64 6.150000 1,000 0 1,000 107.100998 955,832.20 0.21AVALONBAY COMM. 2020 MTN US05348EAN94 6.100000 500 0 500 114.663002 511,659.98 0.11BANK AMERI. 13/19 US06051GEX34 2.600000 4,000 500 3,500 100.675003 3,144,689.97 0.70BANK AMERI. 2021 US06051GEE52 5.875000 0 1,000 3,000 113.877998 3,048,942.38 0.68BANK AMERI. 2023 US06053FAA75 4.100000 0 0 2,000 103.263000 1,843,159.30 0.41BAXTER INTL 2019 US071813BA62 4.500000 0 0 500 107.987000 481,869.70 0.11BECTON,DICKINS. 10/20 US075887AW93 3.250000 0 0 500 101.494003 452,896.05 0.10BK OF NY MELLON 2019 MTN US06406HCR84 2.200000 0 300 1,000 100.401001 896,037.49 0.20BORGWARNER INC. 15/25 US099724AJ55 3.375000 1,000 500 500 97.713997 436,028.55 0.10BURLINGTON NORTH. 2017 US12189TAY01 5.650000 0 0 1,000 106.898003 954,020.55 0.21BURLINGTON NORTHERN 2044 US12189LAU52 4.550000 0 0 1,000 96.569000 861,838.46 0.19CAP.ONE N.A. 2021 US14042E3Y48 2.950000 0 1,500 1,000 97.417000 869,406.51 0.19CAPITAL ONE FINL 15/25 US14040HBG92 3.200000 0 0 1,000 93.026001 830,218.66 0.19CATERPILLAR INC. 12/22 US149123BX80 2.600000 0 0 1,000 97.231003 867,746.57 0.19CATERPILLAR INC. 14/24 US149123CC35 3.400000 0 0 500 100.483002 448,384.66 0.10CELGENE 14/24 US151020AP99 3.625000 500 0 500 98.392998 439,058.45 0.10CELGENE 14/44 US151020AM68 4.625000 500 0 500 94.276001 420,687.20 0.09CHEVRON 09/19 US166751AJ66 4.950000 0 0 500 109.952003 490,638.13 0.11CHEVRON 13/20 US166764AG56 2.427000 0 500 1,500 100.427002 1,344,404.31 0.30CISCO SYSTEMS 09/39 US17275RAD44 5.900000 0 0 1,000 120.449997 1,074,966.51 0.24CISCO SYSTEMS 2020 US17275RAH57 4.450000 0 1,000 2,000 109.415001 1,952,967.44 0.44CITIGROUP INC. 07/17 US172967DY47 5.500000 0 500 4,000 105.325996 3,759,964.16 0.84CITIGROUP INC. 13/22 US172967GK16 4.050000 0 500 1,500 102.410004 1,370,950.52 0.31CITIGROUP INC. 13/23 US172967HD63 3.875000 0 0 2,000 101.656998 1,814,493.49 0.40CITIGROUP INC. 2039 US172967EW71 8.125000 0 500 2,000 145.134995 2,590,539.85 0.58COMCAST 14/24 US20030NBJ90 3.600000 0 500 1,500 102.057999 1,366,238.28 0.30COMCAST 2044 US20030NBK63 4.750000 0 1,000 1,000 104.189003 929,843.85 0.21COMCAST 2045 US20030NBQ34 4.600000 500 0 500 101.995003 455,131.66 0.10CONOCOPHILLIPS 12/22 US20826FAA49 2.400000 0 3,000 3,000 92.889999 2,487,014.70 0.55CONOCOPHILLIPS 14/24 US20826FAD87 3.350000 0 0 1,000 97.059998 866,220.42 0.19CONTI. RES.(OKLA.)12/22 US212015AH47 5.000000 0 0 500 90.625000 404,395.36 0.09CSX CORP. 14/24 US126408HB27 3.400000 0 1,000 2,000 99.342003 1,773,172.74 0.40CVS HEALTH 2017 US126650BH22 5.750000 0 0 900 107.254997 861,485.92 0.19DAIMLER FIN.N.A.13/16REGS USU2339CBE76 1.450000 0 1,000 1,000 100.320000 895,314.59 0.20DOW CHEM. 10/20 US260543CC57 4.250000 0 500 2,000 106.021004 1,892,387.40 0.42EASTMAN CHEM. CO. 14/44 US277432AP52 4.650000 0 0 500 94.346001 420,999.56 0.09EBAY 12/17 US278642AG81 1.350000 0 0 800 98.566002 703,728.71 0.16EL PASO CORP 2017 US28336LBQ14 7.000000 0 0 2,000 107.440002 1,917,715.34 0.43EOG RESOURCES 15/35 US26875PAN15 3.900000 1,000 0 1,000 93.627998 835,591.24 0.19ERP OPERATING 2044 US26884ABB89 4.500000 500 0 500 99.292000 443,070.06 0.10FEDEX CORP. 2019 US31428XAR70 8.000000 0 0 1,000 119.190002 1,063,721.57 0.24FORD MOTOR CO. 99/31 US345370CA64 7.450000 0 0 500 126.060997 562,521.19 0.13FORD MOTOR CRED. 2017 US345397VP55 6.625000 0 0 1,000 108.140999 965,113.78 0.22FORD MOTOR CRED. 2021 US345397VU41 5.875000 1,000 500 1,500 112.286003 1,503,159.35 0.34FREEPORT-MCMORAN 2020 US35671DBG97 3.100000 0 0 1,000 85.500000 763,052.21 0.17GAP 2021 US364760AK48 5.950000 0 500 1,000 110.723999 988,165.99 0.22GENERAL MOTORS 14/18 US37045VAD29 3.500000 1,000 0 1,000 101.405998 905,006.68 0.20GENERAL MOTORS 2045 US37045VAJ98 5.200000 1,000 0 1,000 94.197998 840,678.25 0.19GENL EL. 2044 US369604BH58 4.500000 0 0 1,500 101.431000 1,357,844.71 0.30GENL EL.CAP. 07/67 FLR US36962G3M40 6.375000 0 0 200 106.750000 190,539.94 0.04


16



Interestrate

GENL EL.CAP. 13/43 MTN XS0880289292 4.625000 0 500 1,500 98.017000 1,312,141.90 0.29GENL EL.CAP.CORP.13/18MTN US36962G6W94 1.625000 0 1,000 3,000 99.888000 2,674,377.51 0.60GENL MILLS 13/43 US370334BP87 4.150000 1,000 500 500 93.175003 415,774.23 0.09GILEAD SCIENCES 14/25 US375558AZ68 3.500000 1,000 0 1,000 99.874001 891,334.23 0.20GILEAD SCIENCES 2021 US375558AQ69 4.500000 0 200 500 107.964996 481,771.51 0.11GLAXOSMITHKLINE CAP.2038 US377372AE71 6.375000 0 500 1,500 125.081001 1,674,444.46 0.37GM FINANCIAL 2021 US37045XAQ97 4.375000 0 500 500 100.958000 450,504.24 0.10GM FINANCIAL 2025 US37045XAS53 4.000000 1,000 500 500 94.846001 423,230.71 0.09GOLDM.S.GRP 09/19 MTN D US38141EA257 7.500000 7,000 2,000 5,000 116.786003 5,211,334.36 1.16GOLDM.S.GRP 14/44 MTN US38141EC311 4.800000 0 0 1,000 101.338997 904,408.72 0.20GOLDM.S.GRP 2020 MTN US38141EA661 6.000000 0 0 2,000 113.982002 2,034,484.64 0.45GOLDMAN SACHS GRP 11/41 US38141GGM06 6.250000 0 2,000 3,000 119.538002 3,200,481.98 0.71GOLDMAN SACHS GRP 12/22 US38141GGS75 5.750000 0 0 2,000 113.664001 2,028,808.59 0.45GOLDMAN SACHS GRP 14/24 US38141GVM31 4.000000 0 500 4,500 102.289001 4,107,992.01 0.92HALLIBURTON 13/43 US406216BE02 4.750000 0 0 1,000 97.128998 866,836.22 0.19HESS CORP. 2041 US42809HAD98 5.600000 0 0 500 96.611000 431,106.65 0.10HEWLETT-PACKARD 10/20 US428236BF92 3.750000 0 0 600 103.047997 551,796.50 0.12HEWLETT-PACKARD 11/16 US428236BU69 3.300000 0 300 2,200 102.142998 2,005,485.02 0.45HOME DEPOT INC. 14/19 US437076BE14 2.000000 0 2,000 2,000 100.331001 1,790,825.54 0.40HOME DEPOT INC. 14/45 US437076BF88 4.400000 0 0 500 101.428001 452,601.53 0.10HYUNDAI CAP.A. 2018 144A US44891AAA51 2.000000 500 0 500 99.468002 443,855.43 0.10INTEL CORP. 12/17 US458140AL48 1.350000 0 500 1,000 99.853996 891,155.70 0.20INTERPUBLIC GRP 14/24 US460690BL39 4.200000 0 0 1,000 99.542999 888,380.18 0.20INTL BUS. MACH. 13/18 US459200HK05 1.250000 0 0 1,000 99.563004 888,558.71 0.20INTL BUS. MACH. 13/23 US459200HP91 3.375000 0 500 500 100.057999 446,488.17 0.10INTL PAPER 09/21 US460146CE11 7.500000 0 0 500 120.612999 538,210.62 0.12JEFFERIES GROUP 13/23 US472319AL69 5.125000 0 500 500 103.245003 460,709.52 0.10JOHNSON + JOHNSON 13/43 US478160BK90 4.500000 0 0 1,000 107.183998 956,572.94 0.21JPMORGAN CHASE 07/18 US46625HGY09 6.000000 0 400 3,600 109.306000 3,511,839.36 0.78JPMORGAN CHASE 13/23 US46625HJJ05 3.375000 0 500 2,500 96.057999 2,143,194.98 0.48JPMORGAN CHASE 2020 US46625HHQ65 4.950000 0 0 3,000 109.646004 2,935,635.98 0.65JPMORGAN CHASE 2038 US46625HHF01 6.400000 0 1,000 1,000 125.317001 1,118,402.51 0.25KERR-MCGEE 04/24 US492386AU15 6.950000 0 0 500 117.994003 526,523.89 0.12KIMBERLY-CLARK 2017 US494368BB80 6.125000 0 0 1,000 109.199997 974,564.90 0.22KIMBERLY-CLARK 2025 US494368BQ59 2.650000 1,000 0 1,000 96.198997 858,536.34 0.19KINDER M.E.PARTNERS 2020 US494550BE51 5.300000 0 1,000 1,000 106.587997 951,253.88 0.21KINDER M.E.PARTNERS 2043 US494550BP09 5.000000 0 1,000 1,000 79.070999 705,676.03 0.16KRAFT HEINZ CO. 2042 US50076QAE61 5.000000 1,000 1,000 2,500 101.905998 2,273,672.42 0.51KROGER CO. 2024 US501044CY52 4.000000 0 500 1,000 102.276001 912,771.09 0.20LILLY (ELI) 15/25 US532457BH00 2.750000 1,000 0 1,000 96.996002 865,649.28 0.19LOWE'S COS 12/42 US548661CX31 4.650000 1,000 1,500 1,000 104.054001 928,639.01 0.21MARATHON PETR. 14/44 US56585AAH59 4.750000 0 500 1,000 88.182999 786,996.87 0.18MASTERCARD 2024 US57636QAB05 3.375000 0 500 1,500 101.189003 1,354,605.13 0.30MCDONALDS CORP. 2022 MTN US58013MEM29 2.625000 0 1,500 1,000 97.142998 866,961.16 0.19MERCK CO. 2021 US58933YAA38 3.875000 0 500 2,000 106.829002 1,906,809.50 0.43MERCK CO. 12/22 US589331AT41 2.400000 0 0 500 96.300003 429,718.89 0.10MERCK CO. 2045 US58933YAT29 3.700000 0 500 2,500 90.964996 2,029,562.61 0.45MOLSON COORS BREW. 12/42 US60871RAD26 5.000000 500 0 500 95.463997 425,988.39 0.10MONDELEZ INTL 07/17 US50075NAS36 6.500000 0 0 500 109.333000 487,875.95 0.11MONDELEZ INTL 14/24 US609207AB14 4.000000 1,000 0 1,500 102.468002 1,371,726.93 0.31

17




Interestrate

MONSANTO 14/44 US61166WAP68 4.400000 0 0 500 90.259003 402,762.18 0.09MORGAN STANLEY 12/42 US617482V925 6.375000 0 200 1,300 123.685997 1,435,000.41 0.32MORGAN STANLEY 13/25 US6174467X10 5.000000 5,000 1,000 4,000 105.278000 3,758,250.78 0.84MORGAN STANLEY 2021 US61747WAF68 5.750000 0 400 3,600 113.356003 3,641,959.94 0.81MORGAN STANLEY 2024 US61746BDQ68 3.875000 1,500 1,500 2,500 101.588997 2,266,599.67 0.51MOTOROLA SOLUTIONS 14/21 US620076BD08 3.500000 0 1,300 500 94.875000 423,360.11 0.09NEWMONT MINING 12/22 US651639AN69 3.500000 0 0 300 90.228996 241,576.97 0.05NEWMONT MINING 2039 US651639AM86 6.250000 0 300 500 88.778000 396,153.50 0.09NOBLE ENERGY 2024 US655044AH83 3.900000 0 0 500 94.472000 421,561.80 0.09OCCIDENTAL PET. 10/21 US674599BY08 4.100000 0 0 500 106.478996 475,140.54 0.11ORACLE 12/17 US68389XAN57 1.200000 0 200 1,742 99.624001 1,548,817.58 0.35PEPSICO INC. 14/44 US713448CQ97 4.250000 1,500 500 1,000 97.566002 870,736.30 0.19PFIZER INC. 13/23 US717081DH33 3.000000 0 0 1,000 98.827003 881,990.21 0.20PG + E CORP. 2034 US694308GE15 6.050000 0 0 1,000 119.884003 1,069,915.24 0.24PHILLIPS 66 2022 US718546AC87 4.300000 0 1,600 1,500 104.438004 1,398,099.12 0.31PIONEER NAT.RES. 2018 US723787AF41 6.875000 0 500 500 109.504997 488,643.45 0.11PROCTER GAMBLE 07/37 US742718DF34 5.550000 0 500 1,000 120.822998 1,078,295.39 0.24QUALCOMM 15/45 US747525AK99 4.800000 1,000 0 1,000 86.518997 772,146.34 0.17SIMON PROP.GRP 14/19 US828807CQ80 2.200000 0 0 1,000 100.847000 900,017.85 0.20TARGET 12/42 US87612EBA38 4.000000 0 0 1,000 96.128998 857,911.63 0.19TARGET 14/24 US87612EBD76 3.500000 1,500 500 1,000 102.848000 917,875.95 0.20TEVA PHARM.FIN. 2036 US88163VAD10 6.150000 0 0 130 112.653000 130,699.60 0.03TIME WARNER 11/41 US887317AM77 5.375000 0 500 1,000 103.160004 920,660.46 0.21TIME WARNER 2021 US887317AG00 4.700000 0 500 1,000 108.163002 965,310.15 0.22TIME WARNER CBL 2017 US88732JAH14 5.850000 0 500 1,000 106.082001 946,738.07 0.21TIME WARNER CBL 2018 US88732JAL26 6.750000 0 500 1,500 110.794998 1,483,199.44 0.33TOYOTA MOTOR CRD 2020 MTN US89236TCF03 2.150000 2,000 500 1,500 99.813004 1,336,184.79 0.30TYSON FOODS 2019 US902494AW36 2.650000 500 0 500 99.819000 445,421.69 0.10UTD PARCEL SERV. 2021 US911312AM88 3.125000 0 0 500 103.078003 459,964.32 0.10VALERO ENERGY CORP. 07/37 US91913YAL48 6.625000 0 0 500 110.234001 491,896.48 0.11VALERO ENERGY CORP.15/25 US91913YAS90 3.650000 1,000 500 500 96.276001 429,611.79 0.10VERIZON COMM 13/18 US92343VBP85 3.650000 3,000 1,000 4,000 104.807999 3,741,472.52 0.83VERIZON COMM 13/43 US92343VBT08 6.550000 1,000 500 2,000 118.448997 2,114,216.81 0.47VERIZON COMM 14/21 US92343VCN29 3.000000 2,000 0 2,000 98.566002 1,759,321.77 0.39VERIZON COMMUNIC. 2030 US92344GAM87 7.750000 0 0 1,500 130.533997 1,747,443.07 0.39WAL-MART STRS 05/35 US931142CB75 5.250000 0 500 1,500 114.467003 1,532,356.14 0.34WALGREENS BO. A. 14/17 US931427AE88 1.750000 0 800 500 100.109001 446,715.76 0.10WELLS FARGO 2026 MTN US94974BFY11 4.100000 2,000 0 2,000 100.487000 1,793,610.00 0.40WELLS FARGO 2044 US949746RF01 5.606000 0 2,000 3,000 111.553001 2,986,693.47 0.67WILLIAMS PRTNRS 14/25 US96950FAQ72 3.900000 0 500 1,500 88.941002 1,190,642.60 0.27ZIMMER BIOMET HLDGS 15/25 US98956PAF99 3.550000 1,500 500 1,000 95.897003 855,841.17 0.19ZIMMER BIOMET HLDGS 15/45 US98956PAH55 4.450000 1,000 0 1,000 90.491997 807,603.72 0.18

Total 200,465,671.38 44.71

Issue country British Virgin Islands

CNOOC FIN. 12/42 REGS USG23530AB75 5.000000 0 0 150 106.315845 142,323.76 0.03SINOP.G.O.D.15 15/25 REGS USG8201JAC56 3.250000 1,500 500 1,000 95.638500 853,534.14 0.19

Total 995,857.90 0.22Total bonds denominated in USD translated at a rate of 1.120500 266,165,218.02 59.36

Total securities admitted to organised markets 266,165,218.02 59.36


18



Interestrate

Unlisted securities



SEAGATE HDD CAYMAN 13/23 US81180WAH43 4.750000 0 0 1,000 97.019997 865,863.43 0.19SEAGATE HDD CAYMAN 2018 US81180WAP68 3.750000 0 0 1,000 102.813004 917,563.62 0.20

Total 1,783,427.05 0.40


CREDIT AGRI. 2024MTN 144A US22532LAM63 3.875000 0 500 500 101.463997 452,762.15 0.10Total 452,762.15 0.10


VOLKSWAGEN INTL 2016 US928670AW86 1.125000 0 0 1,000 99.872002 891,316.39 0.20Total 891,316.39 0.20


UNICR.BK AUS. 2017 US060587AB85 7.250000 1,000 0 5,000 104.787800 4,675,939.31 1.04Total 4,675,939.31 1.04

Issue country USA

21ST CENT.FOX A. 2024 US90131HAE53 3.700000 0 500 500 98.275002 438,531.91 0.10ESSEX PORTFOLIO 14/17 US29717PAG28 5.500000 1,000 500 500 105.478996 470,678.25 0.10ESSEX PORTFOLIO 14/21 US29717PAJ66 5.200000 500 0 500 110.308998 492,231.14 0.11FIVE CORN.F.TR. 2023 US33829TAA43 4.419000 0 0 1,000 103.852000 926,836.23 0.21

Total 2,328,277.53 0.52Total bonds denominated in USD translated at a rate of 1.120500 10,131,722.43 2.26

Total unlisted securities 10,131,722.43 2.26

UnrealisedForward exchange agreements result in EUR

Forward exchange agreements denominated in EUR


FXF SPEST EUR/USD 24.11.2015 FXF_TAX_3421015 422,624,805 -9,867,448.12 -2.20Total -9,867,448.12 -2.20

Total forward exchange agreements denominated in EUR -9,867,448.12 -2.20Total forward exchange agreements -9,867,448.12 -2.20

19


Investor note:

The values of assets in illiquid markets may deviate from their actual selling prices.

* Price contains deferred interest.

Security designation Holding Unrealised % share

result in EUR of

fund

assets

Derivatives

Financial futures denominated in USD

Issue country USA

US 10YR NOTE(CBT) Dec15 30 -10,876.84 0.00US 5YR NOTE (CBT) Dec15 30 -11,086.02 0.00US LONG BOND(CBT) Dec15 5 -2,370.59 0.00

Total -24,333.45 -0.01Total financial futures denominated in USD translated at a rate of 1.120500 -24,333.45 -0.01

Total derivatives -24,333.45 -0.01

Breakdown of fund assets

Securities 419,213,060.71 93.49Forward exchange agreements -9,867,448.12 - 2.20Financial futures -24,333.45 - 0.01Cash in banks 34,792,830.86 7.76Interest entitlements 4,272,892.79 0.95Other deferred items -36.34 - 0.00Fund assets 448,386,966.45 100.00

Dividend shares outstanding shares 190,913Non-dividend shares outstanding shares 1,980,359KEST-exempt non-dividend shares outstanding shares 881,503Share value for dividend share EUR 94.58Share value for non-dividend share EUR 145.65Share value for KEST-exempt non-dividend share EUR 160.94


20

Purchases and sales of securities in the reporting period not listed in the fund portfolio

Security designation ISIN Interest rate Purch./ Sales/number additions disposals

Shares/nominal (nom. in 1,000, rounded)

Publicly traded securities



BG ENERGY CAP. 11/16 REGS USG1163HAY20 2.875000 0 250BG ENERGY CAP. 2021 144A US05541VAE65 4.000000 0 1,000

Issue country Italy

UNICREDIT 13/23 FLR MTN XS0925177130 6.375000 0 2,500


GLENCORE FIN. (CA) 2022 US98417EAT73 4.250000 0 1,000TECK RESOURCES LTD. 12/18 US878742AX37 2.500000 0 500TECK RESOURCES LTD. 2021 US878742AT25 4.500000 0 245

Issue country Luxembourg

GPN CAPITAL 12/22MTN REGS XS0830192711 4.375000 0 1,000

Issue country USA

BELL TEL. PENNSYL. 2031 US078167BA02 8.750000 0 700CAP.ONE N.A. 15/18 US14042E4L18 1.650000 0 1,000FIFTH THIRD B. 2024 US316773CP38 4.300000 0 500HCP INC. 12/22 US40414LAG41 3.150000 0 1,000PIONEER NAT.RES. 2017 US723787AG24 6.650000 0 500SAN DIEGO GAS+EL.2040 III US797440BM51 4.500000 0 450TALEN ENERGY SUP. 2021 US69352JAN72 4.600000 0 500VERIZON NEW YORK 2032 A US92344XAB55 7.375000 1,000 1,000

Securities admitted to organised markets



COMMONW.BK AUSTR.11/16MTN US2027A1FR33 3.250000 0 100

21




Issue country Brazil

BRF 12/22 REG S USP1905CAA82 5.875000 1,000 1,000


VALE OVERSEAS 06/36 US91911TAH68 6.875000 0 250


DIAGEO CAPITAL PLC 07/17 US25243YAM12 5.750000 0 150RBS PLC 11/16 US78009PCC32 4.375000 0 2,500RIO TINTO FIN.USA 12/17 US76720AAE64 1.625000 1,500 1,500

Issue country India

ST.BK.O.INDIA(LDN.B)12/17 USU85528AB04 4.125000 300 300


GLENCORE FIN. (CA) 12/22 USC98874AM93 4.250000 0 500


ABN AMRO 12/22FLRMTN REGS XS0827817650 6.250000 0 2,500DT.TELEK.INTL F. 00/30 US25156PAC77 8.750000 0 500PETROBRAS GBL FIN. 13/19 US71647NAB55 3.000000 0 2,000RABOBK NED.NY 2020 US21688AAD46 2.250000 0 2,000


SCHLUMBERGER NORGE 11/16 USR7562MAJ64 1.950000 0 250

Issue country USA

AMER. EXPRESS 08/18 US025816AY50 7.000000 0 300BK OF AMER.CORP 10/20 MTN US06051GEC96 5.625000 0 450BK OF AMER.CORP 2017 US06051GEQ82 3.875000 0 4,000BK OF AMER.NA 2017 MTN US06050TKN18 5.300000 0 500CITIGROUP INC. 13/18 US172967HC80 2.500000 0 1,500DIAGEO INV. 12/22 US25245BAB36 2.875000 0 1,500DOMINION RES.(NEW) 2038 US25746UBD00 7.000000 0 1,000


22

Vienna, September 2015

ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H.Electronically signed

Inspection information: The electronic signatures in this document can be inspected at www.signaturpruefung.gv.at.Note: This document was signed with two qualified electronic signatures. A qualified electronic signature fulfils

the legal requirements of a hand-written signature, and in particular the requirements of the written form as defined in § 886 ABGB (§ 4 [1] Austrian Signature Act [Signaturgesetz]).



GOLDMAN SACHS GRP 13/18 US38141GRC05 2.375000 0 6,500HCP 2021 US40414LAD10 5.375000 0 1,000HCP 14/24 US40414LAL36 3.875000 0 500JPMORGAN CH.BK NA 2017 US48121CYK60 6.000000 0 1,000JPMORGAN CHASE 2020 US46625HHU77 4.250000 0 2,000JUNIPER NETWORKS 2041 US48203RAD61 5.950000 0 1,500KELLOGG CO. 10/20 US487836BD94 4.000000 1,000 1,500KOHL'S CORP. 07/37 US500255AQ76 6.875000 0 500KOHL'S CORP. 2021 US500255AR59 4.000000 0 500MORGAN STANLEY 2017 US61747YDT91 4.750000 0 4,000MORGAN STANLEY 2019 F US61747YCJ29 5.625000 0 850ORACLE 13/19 US68389XAQ88 2.375000 0 150PEPSICO INC. 13/19 US713448CK28 2.250000 0 250PROCTER GAMBLE 2019 US742718EG08 1.900000 0 500PRUDENTIAL FINL 12/42 FLR US744320AL68 5.875000 0 1,500PRUDENTIAL FINL 13/44 FLR US744320AN25 5.200000 0 1,500SOUTHWESTERN EN. 15/25 US845467AL33 4.950000 1,000 1,000TOYOTA MOTOR CRD 13/18MTN US89236TAY10 2.000000 0 200US TREASURY 2019 US912828G617 1.500000 0 10,000US TREASURY 2044 US912810RJ97 3.000000 0 5,00021ST CENTURY FOX AM. 2034 US652482BJ86 6.200000 0 1,00021ST CENTURY FOX AM.09/19 US652482BT68 6.900000 0 2,000

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ESPA BOND USA-CORPORATE - hozamplaza.hu fileESPA BOND USA-CORPORATE 2 General Information about the Investment Firm The company ERSTE-SPARINVEST Kapitalanlagegesellschaft m. b. H