ERSTE IMMOBILIENFONDS

The ERSTE IMMOBILIENFONDS is an open retail fund as defined in the Austrian Real Estate Investment Fund Act (ImmoInvFG) and an Alternative Investment Fund (AIF) according to the Alternative Investment Funds Manager Act (AIFMG). The ERSTE IMMOBILIENFONDS concentrates on  residential properties and also offices and shops. The fund's regional focus is on Austria and Germany.

Erste Dollar Real Estate Fund of Funds

The fund invests in Erste Real Estate Fund and Erste Euro Real Estate Fund. The currency risk is hedged against the dollar.

_Disclaimer

^{All information displayed on our official website is based on sources that Erste Asset Management (Company) (1138 Budapest, Népfürdő u. 24-26., No. of permission: E-100.017-18/2003; H-EN-III-1138/2012; H-EN-III-125/2014) considers credible, but the Company does not take responsibility for them. This document serves as additional information for our investors. It cannot be considered as investment advice, investment offer, analysis or portfolio report.}

^{The capital market, the macroeconomic situation, the investments and return are driven by factors that the Company cannot control. The Company does not take responsibility for consequences of the investor’s decision.}

^{The information displayed are not comprehensive. 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. Past performance is not a reliable indicator of the future performance of a fund.}

^{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.}

^{Please note that investments in securities entail risks in addition to the opportunities presented here.}

^{Before making an investment decision, please read the actual Fund Prospectus - which contains detailed information on investment policy, potencial risks, distribution costs and other related costs - that is available on the website of the Erste Asset Management Ltd. (www.erstelapkezelo.hu) and at place of distributions.}

_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.}