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EdR Chinabsolute China equities

China equities
NAV (17/02/2017)
49,516.10 USD
Wei-Wei  LI–FR0010886713–
Wei-Wei LI
Na YOU–FR0010886713–
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
Recommended holding period
> 5 years
49,516.10 USD
NAV (17/02/2017)
Risk and reward profile
> 5 years
Recommended holding period
NAV (17/02/2017)
49,516.10 USD
Risk and reward profile
Recommended holding period
> 5 years
Wei-Wei LI  
Na YOU  
The identity of the managers presented in this document may change during the life of the product.

Investment objective

The fund's objective is to seek a long term capital growth by investing in Chinese stocks listed in China and in Hong Kong, and in securities of non-Chinese companies that generate a significant part of their profits in China. Through an active selection of stocks, the fund offers investors access to China's economy growth. Edmond de Rothschild ChinAbsolute, subfund Edmond de Rothschild Mainland China is a non-leveraged ARIA funds, denominated in dollars, only for well-informed investors.

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Commentary 26/01/2017

China's NBS Manufacturing Jan PMI fell from 51.4 to 51.3 yet better than mkt consensus of 51.2 dragged by the CNY production contraction effect, the highest level among all Jan Numbers since 2012 in a continued strength cycle . Main drag for Jan is due to moderation of production and new orders due to CNY seasonal factor, while the other sub-indices are still good shape. We expect PMI will continuou to improve throughout 2017 due to rising infra investment with a expt 6.7% GDP growth in Q1 2017. And on the first day back post the Chinese Year, The PBOC has tightened monetary policy by raising the interest rate it changes in open market operations, hiking the reverse repo rate for 7d, 14d and 28d tenors by +10bps to 2.35%, 2.50% and 2.65% respectively. The standing lending facility (SLF) rate was also hiked by 35bps to 3.1%. we see this in two ways: (1) A signal China wants to slow its pace of leverage expansion with recent expansion ratios back near peak levels, or (2) A political response to ease tensions by Trump and risks around further trade barriers being raised. We think the policy tightening cycle will continue in Q1 but may end in Q2 when growth slows to below 6.5%, expect CPI inflation to rise only moderately in 2017. If growth stays stable and inflation picks up faster than we expect, policy tightening may last longer than we forecast.

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Change in NAV

Chart – Base 100 (17/02/2017)
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-USD Cumulative performance Annualised performance
Since 01/01/2017 1.23 %  
1 Year -3.90 % -3.77 %
3 Year -13.60 % -4.74 %
5 year -9.52 % -1.98 %
Since inception -0.97 % -0.14 %
Performance I-USD Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 1.23 % -3.90 % -13.60 % -9.52 % -0.97 %
Annualised performance -3.77 % -4.74 % -1.98 % -0.14 %

Fund information

Inception Date (Fund)
Inception Date (Part)
Legal form
Mutual Fund
Currency (fund)
Currency (share class)
Distribution Policy
Valuation frequency
Minimum initial investment
5000000.00 USD
AuM (fund)
2 M (USD)
Regulatory authority
EU Regulation
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
Edmond de Rothschild Asset Management (Hong-Kong)
Maximum management fee
1,000 %
Current management fee
1.000 %
Subscription and redemption conditions
Subscriptions: by 12:30 C.E.T. on the business day preceding the establishement of the net asset value (a Thursday in most cases). Redemptions: by 12:30 C.E.T. 30 calendars days before the date the net asset value is established
Subscription fee
5.00 % 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.