ERSTE SECURITY INVEST (CZK) is a feeder fund of the master fund ERSTE SECURITY INVEST and pursues an active investment policy. The Fund aims to achieve capital growth and/or continuous returns. The discretionary power of the Management Company is limited in so far as the feeder fund invests at least 85% of its assets in units of ERSTE SECURITY INVEST (the master fund) on a permanent basis. Transferable securities and money market instruments may not be purchased. Derivative financial instruments may only be used for hedging purposes and may comprise up to 15% of the fund assets. Demand deposits and deposits with the right to be withdrawn with a maximum term of 12 months may comprise up to 15% of the fund assets. The fund currency is Czech koruna (CZK). The currency risks arising from the investments of the feeder fund in the master fund are hedged for the most part, so the risk/earnings profile of the two funds may diverge. The master fund is an equity fund. The Fund aims to achieve capital growth and/or continuous returns. In order to attain the investment objective, the Fund invests predominantly, in other words at least 51% of its assets, in stocks from companies selected through a screening process that has been predefined by the Management Company in the form of directly purchased individual instruments, in other words not indirectly or directly through investment funds or through derivatives. Under this screening process, stocks from companies that make a significant contribution to safety- and security-relevant topics are preferred.