Edmond de Rothschild

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This site provides extensive information about the ranges of Edmond de Rothschild Group funds. In particular, it provides simplified access to key fund-related data (performance, net asset values, features) and their commercial or legal documents.

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EdR Fund Floating Rate Credit Corporate bonds

Corporate bonds
Change in NAV (22/05/2018)
98.58 CHF
Benjamine  NICKLAUS–LU1198873132–
Benjamine NICKLAUS
Léo ABELLARD–LU1198873132–
Léo ABELLARD
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
Between 12 and 24 months
98.58 CHF
Change in NAV (22/05/2018)
2
1234567
Risk and reward profile
Between 12 and 24 months
Recommended holding period
Change in NAV (22/05/2018)
98.58 CHF
Risk and reward profile
1234567
Recommended holding period
Between 12 and 24 months
Benjamine NICKLAUS  
Léo ABELLARD  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Sub-Fund's investment objective is to outperform its benchmark, net of management fees, over an investment horizon of one to two years, through a portfolio representing investment opportunities present on the short-term corporate credit markets.

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Commentary 30/04/2018

Credit has stabilized in April early in the month, we saw financial markets climbing strongly, little affected by the prevailing macroeconomic and geopolitical uncertainties (risk of a trade war, developments in Syria, US sanctions against Russia). European economic data coming in on the soft side. Mr Draghi acknowledged the weaker numbers in the ECB press conference, but did not alter the guidance for the time being. Importantly for credit markets, he made clear that the market rumors of an early winddown of the CSPP program were unfounded, and the fall in purchasing was simply seasonal. Investment grade credit spreads saw a slight tightening for the European IG market and a relatively flat month for the US IG market.In HY, Returns have been positive across all sectors, with three achieving 1% or more in April (Oil & Gas, Technology and Media) and the lower rating qualities benefitting most in recent weeks, giving HY solid outperformance vs. IG.In Financials nevertheless, we noticed that a number of issuing banks with significant exposure to Russia (Raffaisen, Unicredit and Société Générale) came under heavy pressure following sanctions. In mid-April, the situation changed and spreads widened, in part due to profit-taking in the wake of this rally. Faced with interest rate volatility, this downtrend ran on to the month's end, despite the publication of broadly respectable results. This month we have seen all segments outperforming. The insurance sector significantly outperformed, with spreads tightening 12 bps on perpetuals and Tier 2's posting a performance of 0.49%.

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Change in NAV

Chart – Base 100 (22/05/2018)
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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 I-CHF Cumulative Annualised
Since 01/01/2018

-1.57 %

0.68 %

-1.57 %

0.68 %

1 Year

-1.53 %

0.96 %

-1.53 %

0.96 %

3 Year

-1.19 %

2.78 %

-0.40 %

0.92 %

Since inception

-1.42 %

2.85 %

-0.44 %

0.88 %

Since 01/01/2018 1 Year 3 Year 5 year Since inception
Cumulative

Share class (I-CHF)

Benchmark

-1.57 %

0.68 %

-1.53 %

0.96 %

-1.19 %

2.78 %

-1.42 %

2.85 %

Annualised

Share class (I-CHF)

Benchmark

-1.53 %

0.96 %

-0.40 %

0.92 %

-0.44 %

0.88 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class I-CHFBenchmarkShare class I-CHFBenchmarkShare class I-CHFBenchmarkShare class I-CHFBenchmarkShare class I-CHFBenchmark
1 Year*1.17 %0.35 %1.18 %0.12 %-1.47 %4.76 %
3 Year *1.68 %0.72 %1.25 %0.73 %-0.86 %2.16 %
Max. drawdownAlphaBeta
Share class I-CHFBenchmarkShare class I-CHFBenchmarkShare class I-CHFBenchmark
1 Year*-1.83 %-0.02 %0.39 %
3 Year *-2.68 %-0.14 %1.71 %
Max. monthly gain Since inception1.24 %
Max. monthly loss Since inception-1.23 %
Share class I-CHF
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 1.17 % 1.68 % 0.35 % 0.72 %
Tracking Error 1.18 % 1.25 %
Sharpe ratio 4.76 % 2.16 %
Alpha -0.02 % -0.14 %
Correlation coefficient 0.12 % 0.73 %
Information ratio -1.47 % -0.86 %
Max. monthly loss -1.23 %
Max. monthly gain 1.24 %
Max. drawdown -1.83 % -2.68 %
Beta 0.39 % 1.71 %

Fund information

Inception Date (Fund)
07/01/1999
Inception Date (Part)
04/03/2015
Legal form
SICAV
Benchmark
LIBOR CHF 3M
250BP
Currency (fund)
EUR
Currency (share class)
CHF
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 CHF EQ EUR
ISIN Code
LU1198873132
AuM (fund)
253 M (EUR)
Regulatory authority
CSSF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Incorporation
Luxembourg
Maximum management fee
0,350 %
Current management fee
0.350 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
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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