MEAG ProZins A wins the €uro Fund Award 2008

With a plus of 4.23% for the year the MEAG ProZins A placed first ahead of 95 other money market funds at the 2008 €uro Fund Awards. It also placed third over a three-year period.

The excellent performance of the MEAG ProZins A can be attributed to a refined investment strategy that places the emphasis on security. Fund manager Andreas Moritz says: "I only buy securities for the fund that have at least a good rating." The fund generated additional earnings through engagements in foreign exchange. Here, Moritz says: "I profited from mixing-in the Icelandic krona and the Japanese yen. Both positions are hedged in view of the current fluctuations. The primary objective is to profit from the higher money-market rates abroad, which is why I invest predominantly where currency development appears to be stable. While I had up to ten percent invested in foreign exchange in 2007, I am now avoiding risks until a clear trend can be seen."

The average remaining time to maturity of the MEAG ProZins was 2.4 months at the end of 2007. Moritz reports: "I sold long-running floating rate securities quite a while back and invested in shorter-term papers instead, because papers with long maturities are subject to much greater fluctuations than their short relatives. What is more, commercial papers with one to three-month maturities have a stabilising effect, like fixed-term deposits."

Managing Director Dieter Wolf summarises: "In the current interest-rate environment, Euro money market funds are an excellent alternative. No issue surcharge and with some banks not even charging a fee for the securities account, this means low costs for the investor and a comparatively low-risk profit, and one that is very attractive in the case of the MEAG ProZins as well." The fund can be bought at all MEAG sales partners, in particular ERGO Versicherungsgesellschaften Victoria, Hamburg-Mannheimer, DKV, D.A.S., KarstadtQuelle Versicherungen and MEAG itself (tel. 089/ 2867-2867).

MEAG MUNICH ERGO AssetManagement GmbH in Munich is the asset manager for Munich Re and ERGO Insurance Group. With offices in New York and Hong Kong, MEAG has an international orientation and also manages the assets of clients outside the Munich Re Group. MEAG currently manages assets to the value of around € 182 billion, of which around € 13 billion are held in real estate.

Munich, 24 January 2008

Contact:
Dr. Josef Wild
Telephone: +49 89 | 2489 - 2072
Fax: +49 89 | 2489 - 2075
Email: JWild@meag.com