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EdR Credit Very Short Term Money market

Money market
NAV (22/02/2017)
149.83 EUR
François  RAYNAUD–FR0010672055–
François RAYNAUD
Eliezer BENZIMRA–FR0010672055–
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
< 3 months
149.83 EUR
NAV (22/02/2017)
Risk and reward profile
< 3 months
Recommended holding period
NAV (22/02/2017)
149.83 EUR
Risk and reward profile
Recommended holding period
< 3 months
François RAYNAUD  
Eliezer BENZIMRA  
The identity of the managers presented in this document may change during the life of the product.

Investment objective

The portfolio invests in negotiable debt securities with maturities of less than 3 months denominated in euros (S&P minimum short-term rating of A-2). The performance objective is to match the EIONO index. The manager may also rely on NDS repos or bonds issued by Eurozone governments.

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Commentary 31/01/2017

Bond market performance varied from one region to the next in January. While interest rates have generally risen on yield curves across the board, US bond markets posted a marked outperformance. In Europe, markets recorded widening spreads on most government debt compared to Germany's. France saw its spreads getting wider, given multiple uncertainties with respect to the candidates standing in the next presidential election. Italy, meanwhile, suffered from its Constitutional Court's decision to authorise partial amendments to electoral and labour law. On one hand, this illustrates how difficult it is to reform the country, and on the other, it heightens the risk of early elections. Still, credit spreads on corporate debt remained stable in the investment grade category this month, while widening for high yields. Thanks to its positioning on short term credit, EdR Credit Very Short Term held up well given the environment.

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Change in NAV

Chart – Base 100 (22/02/2017)
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 D-EUR Cumulative performance Annualised performance
1 Year -0.01 % -0.01 %
3 Year 0.09 % 0.03 %
5 year 0.17 % 0.03 %
Since inception 1.81 % 0.22 %
Performance D-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance -0.01 % 0.09 % 0.17 % 1.81 %
Annualised performance -0.01 % 0.03 % 0.03 % 0.22 %


1 Year3 Year
Share class D-EUR0.07 %0.05 %
Benchmark0.01 %0.05 %
Share class D-EUR
1 Year 3 Year 1 Year 3 Year
Volatility 0.07 % 0.05 % 0.01 % 0.05 %
Tracking Error

Fund information

Inception Date (Fund)
Inception Date (Part)
Legal form
Mutual Fund
EONIA Capitalise (EUR)
Currency (fund)
Currency (share class)
Distribution Policy
Valuation frequency
Minimum initial investment
1 Share
AuM (fund)
806 M (EUR)
Regulatory authority
Management company
Edmond de Rothschild Asset Management (France)
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
0.40 % max

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.