Edmond de Rothschild

Welcome to our Fund Center

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.

Please enter your country and indicate which investor category you belong to:
Mobile Logo

EdR Credit Very Short Term Money market

Money market
Change in NAV (19/04/2018)
147.25 EUR
Nathalie  COFFRE (Amundi Asset Management)–FR0010672055–
Nathalie COFFRE (Amundi Asset Management)
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
147.25 EUR
Change in NAV (19/04/2018)
1
1234567
Risk and reward profile
Recommended holding period
Change in NAV (19/04/2018)
147.25 EUR
Risk and reward profile
1234567
Recommended holding period
Nathalie COFFRE (Amundi Asset Management)  
 
The identity of the managers presented in this document may change during the life of the product.
Contact

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.

View more View less

Commentary 29/03/2018

The ECB's key interest rates remained unchanged, with the refinancing rate at 0%, the deposit facility rate at -0.40%, and the margin rate at 0.25%. The Eonia closed at -0.348% at March's end, with the 3-month Euribor remaining at -0.327%. March saw a simultaneous flight-to-quality trend on bonds and widening credit spreads, which began in the United States before spreading to Europe. In addition to concerns at a possible trade war, given Trump's comments, this resulted in an imbalance between supply and demand for securities. Tax reform allowing US companies to repatriate their foreign assets triggered the sale of securities and produced funds that have not been reinvested, since companies may prefer share buy-backs, dividend payments or M&A transactions. The rise of the US debt ceiling led to a sharp increase in the supply of T-bills, driving up yields — a phenomenon heightened by a climate featuring abundant primary issues on the credit market. This has impacted fund performance. We have unwound interest rate swaps of less than one year, as various members of the ECB have suggested that there will be no further rate hikes before mid-2019. Instead, we have invested in negotiable debt securities, which now account for more than a third of the fund; and also in bonds that have become more attractive again on the secondary market. In the portfolio there are two lines of Altran securities, which the issuer has requested be rated for use as acquisition financing in the Aricent takeover. These were then rated by S&P and Moody's at BB and Ba2 without compromising the credit quality. We therefore decided, together with our Risk Management Department, to keep both lines, which mature in July 2018, and represent 0.76% of the net assets.

View more View less

Change in NAV

Chart – Base 100 (19/04/2018)
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 D-EUR Cumulative Annualised
Since 01/01/2018

-0.12 %

-0.11 %

-0.12 %

-0.11 %

1 Year

-0.30 %

-0.36 %

-0.30 %

-0.36 %

3 Year

-0.32 %

-0.88 %

-0.11 %

-0.29 %

5 year

-0.20 %

-0.73 %

-0.04 %

-0.15 %

Since inception

1.47 %

2.10 %

0.15 %

0.22 %

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

Share class (D-EUR)

Benchmark

-0.12 %

-0.11 %

-0.30 %

-0.36 %

-0.32 %

-0.88 %

-0.20 %

-0.73 %

1.47 %

2.10 %

Annualised

Share class (D-EUR)

Benchmark

-0.30 %

-0.36 %

-0.11 %

-0.29 %

-0.04 %

-0.15 %

0.15 %

0.22 %

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
20/08/1987
Inception Date (Part)
27/10/2008
Legal form
Mutual Fund
Benchmark
EONIA Capitalise (EUR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010672055
AuM (fund)
1,005 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
Amundi Asset Management
Incorporation
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

Select all

(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.

Top