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EdR Europe Midcaps Europe equities

Europe equities
Change in NAV (15/11/2017)
458.53 EUR
Camilla  NATHHORST ODEVALL–FR0010177998–
Camilla NATHHORST ODEVALL
Ariane HAYATE–FR0010177998–
Ariane HAYATE
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
Recommended holding period
> 5 years
458.53 EUR
Change in NAV (15/11/2017)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (15/11/2017)
458.53 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Camilla NATHHORST ODEVALL  
Ariane HAYATE  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

Over a recommended investment period of more than five years, the UCITS is managed with the aim of achieving net asset value growth by investing in mid-cap companies in Europe.The selection criteria will be outlined in the investment strategy.

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Commentary 31/10/2017

Macroeconomic data remains generally well-oriented even though numbers in the United States are difficult to read as a result of September's hurricanes. US hopes of tax reform are resurfacing following an agreement on healthcare reform — that is less harsh than initially anticipated — and Congress's approval of the budget resolution. On the other hand, given a lack of consensus, Nafta renegotiations will likely run on until March 2018. In Europe, the ECB has decided to continue its nine-month asset repurchasing programme, while halving the amount concerned from €60 bn to €30 bn monthly. Accordingly, expectations of a first interest rate hike have been pushed back to 2019, thereby weakening the euro against the US dollar. Political headlines have been dominated by deteriorating relations between Madrid and Catalonia following the latter's referendum on independence. Organised without the approval of the Spanish government, the separatists won. Catalan President Carles Puigdemont declared independence, and then suspended it immediately, hoping for talks with Madrid. Spain's Prime Minister, Mariano Rajoy, has since taken the lead by triggering Article 155, putting Catalonia under central guardianship, while dissolving its current local parliament and organising fresh regional elections scheduled for December 21. On the equity markets, the first corporate results in Europe have come out generally above expectations, causing the Stoxx 600 to rebound at the month end, and then being amplified by the ECB's announcements. A position has been initiated within the portfolio on Jenoptik, a German optical solutions company targeting various industries including the medical, semiconductor and automotive sectors. We also took part in SMCP's IPO, anticipating strong growth for the Parisian group's ‘affordable luxury' brands (Sandro, Maje, Claudie Pierlot) internationally.

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Change in NAV

Chart – Base 100 (15/11/2017)
Avertissement
You are about to download the historical data for a portfolio. Please note that past performance is not an indication of future performance and it may vary over time. They may be affected, for example, by changes in exchange rates


Performance A-EUR Cumulative Annualised
Since 01/01/2017

11.49 %

13.08 %

11.49 %

13.08 %

1 Year

19.18 %

20.25 %

19.18 %

20.25 %

3 Year

43.50 %

36.98 %

12.77 %

11.04 %

5 year

79.72 %

85.69 %

12.43 %

13.17 %

Since inception

501.47 %

400.89 %

8.14 %

7.28 %

Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

Share class (A-EUR)

Benchmark

11.49 %

13.08 %

19.18 %

20.25 %

43.50 %

36.98 %

79.72 %

85.69 %

501.47 %

400.89 %

Annualised

Share class (A-EUR)

Benchmark

19.18 %

20.25 %

12.77 %

11.04 %

12.43 %

13.17 %

8.14 %

7.28 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmark
1 Year*8.01 %7.82 %3.66 %0.89 %-0.86 %3.66 %
3 Year *13.32 %13.45 %3.26 %0.97 %0.66 %0.95 %
Max. drawdownAlphaBeta
Share class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmark
1 Year*-5.75 %-0.01 %0.91 %
3 Year *-23.66 %0.20 %0.96 %
Max. monthly gain Since inception28.17 %
Max. monthly loss Since inception-32.79 %
Share class A-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 8.01 % 13.32 % 7.82 % 13.45 %
Tracking Error 3.66 % 3.26 %
Sharpe ratio 3.66 % 0.95 %
Alpha -0.01 % 0.20 %
Correlation coefficient 0.89 % 0.97 %
Information ratio -0.86 % 0.66 %
Max. monthly loss -32.79 %
Max. monthly gain 28.17 %
Max. drawdown -5.75 % -23.66 %
Beta 0.91 % 0.96 %

Fund information

Inception Date (Fund)
22/12/1994
Inception Date (Part)
22/12/1994
Legal form
Mutual Fund
Benchmark
Stoxx Europe Small 200 (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010177998
AuM (fund)
336 M (EUR)
Regulatory authority
AMF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
2,000 %
Current management fee
2.000 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % max
Performance fee
15,000 %

Fund documentation

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(1) The rating grades the funds on a scale from 1 to 7. This rating system is based on the average fluctuations of the net asset value over the past five years. It corresponds to the variation range of the portfolio upwards and downwards. If the net asset value is less than 5 years old, the rating is determined by other regulatory calculation methods. Historical data such as those used to calculate the rating may not be a reliable indication of the future risk profile. The current category is neither a guarantee nor an objective. Category 1 does not signify a risk-free investment.

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