HVB One Step Ahead

Up-to-date information

Invests in the following assets:	Primarily units of investment funds (above all of Europa Real Estate Fund), and secondarily short term government securties and other liquid assets.
Possible portfolio elements:	Collective investment securities: Investment units of funds investing mainly in property; Investment units of funds investing mainly in money market instruments; Investment units of funds investing mainly in securities that embody credit relation. Liquid assets: Government securities Money market instruments Time deposits
Investment target:	To assure a competitive yield compared to money market investments for those who take moderate risk.
Reference index:	100% RMAX - Short Term Hungarian Government Securities Total Return Index
Risk level:	Moderate
Risk factors:	The investment units in the fund's portfolio target diverse markets, thus the risk factors are also deviating. In the first place, we have the domestic real estate market risk that characterizes the invetsment units of the real estate fund that is expected to have dominant weight. Beside that the interest rate risk that is linked to the money market and the bond market invetsments may come into the picture.
Recommended minimum investment horizon:	1 year
Inception:	05.06.2005.
Net asset value - 02-02-2012:	352 929 087 HUF
ISIN code:	HU0000703665
Custodian:	UniCredit Bank Hungary Zrt.
Auditor:	PriceWaterhouseCoopers Kft.

*Nominal returns