Allianz Invest Eastern European Equity Fund Zoltan Koch 26.02.2004
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Allianz Investmentbank Aktiengesellschaft
Töz
sdek
lub
Allianz Invest Eastern European Equity Fund
Zoltan Koch 26.02.2004
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Allianz Investmentbank Aktiengesellschaft
Structure of Allianz Group in Austria
Allianz Elementar(Property)
Allianz Elementar
(Life)
Allianz AGMunich
Allianz Investmentbank AG
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Allianz Investmentbank Aktiengesellschaft
largest Austrian bank-independent funds-provider
5th largest asset management company in Austria
more than 80 mutual funds
more than EUR 5 billion assets under management in mutual funds
cooperation with a number of banks and institutional clients
(administration and advisory)
Executive Summary Key Figures Allianz Investmentbank AG Group
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Allianz Investmentbank Aktiengesellschaft
Executive Summary Key Figures Allianz Dresdner Asset Management
Cooperation, Backing and Know-how of the globally leading
insurance company ALLIANZ
AA- (Standard and Poor´s) rating of Allianz Holding AG
more than 650 bn € assets under management
cooperation with PIMCO (70% ownership)
investment activities all over the world
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Allianz Investmentbank Aktiengesellschaft
Global Network and Know-how Transfer
RAS
Allianz Investmentbank
Allianz AG AGF Allianz of America
ElviaAAM
Hong KongAllianz
RAS
Allianz Hungária
Allianz Dresdner Asset ManagementCornhill
MMI Australia
RAS Seguros
PIMCO
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Allianz Investmentbank Aktiengesellschaft
Allianz Invest KAGMutual Funds for our Customers*
AI D EF EN SIV
A l KO N SER VA T IV
A I K LASS ISC H
AI D YN AM ISC H
AI P R O G R ESSIV
F u nd -o f-F un ds
AI C AS H
AI R EN T EN F O N D S
AI A KT IEN F O N D S
ALL IAN Z P IM C OM O R T G A G E
AI V O R S O R G EF O N D S
R etail F un dsLow R isk
A I O S T E U R O P AR EN T EN F O N D S
AI O S T E U R O PAF O N D S
AI N EW G E N E R AT IO N
ALL IAN Z P IM C OC O R PO R AT E
F u nd s fo r in stitution alcu sto m ers
(H ig her Risk)
AI V O R S O R G EF O N D S
AI K O N S ER V AT IV
A I K LASS ISC H
F u nd s for co rp o ra tecu sto m ers
*Registered for sale only in Austria
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Allianz Investmentbank Aktiengesellschaft
Allianz Invest Eastern European Equity Fund*
Inception Date: 2/20/98
Investment Objective: The Fund´s objective is income and growth. It
invests in listed companies in CEE and Russia.
.... and the story behind
EU enlargement - first wave 2004, second 2007 (?)
Low valuation/ higher growth - Economic catch up with W-EU
Russia - political stability, reforms and high oil price
Lower volatility than Western Europe and better performance
*Registered for sale only in Austria
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Allianz Investmentbank Aktiengesellschaft
Allianz Invest Eastern European Equity Fund
NAV 24. Feb. ´04: EUR 32,5m
Benchmark: Nomura CEE Index
Strategy: Stock picking, bottom-up
Performance in EUR
1 month 3,39%
YTD 9,68%
1 year 40,55%
3 years (p.a.) 12,21%
5 years (p.a.) 13,54%
Top Holdings
Lukoil 7,3%
TPSA 5,3%
Vimpelcom 4,9%
OTP 4,8%
Yukos 4,7%
Cesky Tel. 3,7%
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Allianz Investmentbank Aktiengesellschaft
Al Osteuropa sector and country allocation30.Jan 2004
Czech R.16%
Hungary19%
Poland23%
Russia29%
Romania0%Croatia
4%
Estonia4%
Cash3%
Turkey2%
Food4%
Conglom.1%
Cash3%
Utility5% Construction
1%
Pharma8% Oil
23%
Basic mat.6%
Telecom21%
Technology1%
Financials27%
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Allianz Investmentbank Aktiengesellschaft
Outperformance in 5 years30.Jan 2004
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Allianz Investmentbank Aktiengesellschaft
Disclaimer
This report has been prepared for information purposes by Allianz Investmentbank AG for distribution byAllianz Group companies to professional and business customers and does not constitute an offer orsolicitation to buy or sell investment funds. The information contained herein has been obtained fromreliable sources but we make no claims to its completeness or accuracy. The information in this reportreflects our current views which may be subject to change without notice. Allianz Group Companies andtheir respective representatives and employees may from time to time deal in, hold or act as market-makersor advisors, brokers or commercial and/or investment bankers of issuers of securities, or derivatives thereof,mentioned in this report and may also be represented on the board of such issues. The investmentsdiscussed in this report may be unsuitable for investors depending on their specific investment objectives orfinancial position. Investors should obtain individual advice of the bankers/brokers or other advisors aboutthe investments concerned prior to making them. No Allianz Group Company or any of its representativesor employees accepts any liability whatsoever for any direct or consequential loss arising from any use ofthis report or its contents.