Erste has launched Smart Invest Garant IV 19-27 in Austria. The eight-year, medium-term note is the latest product of the bank’s ‘Smart Invest Garant’ series which provides uncapped participation in the performance of the Solactive Erste Multi Asset Index 35 VC.
The index tracks the price movements of eight exchange-traded funds with focus on different asset classes. “This is not a classic ‘proprietary index,' said Thomas Mlekusch (pictured) , a salesman in capital markets, fixed income and certificates at Erste in Vienna. “This index belongs to Solactive and is calculated and published solely by Solactive […] the back-to-back hedging is done via various partners." The first product in the series was launched in 2018, and sinc