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 Credit Very Short Term Money market

Money market
Change in NAV (16/07/2018)
100,217.67 EUR
Nathalie  COFFRE (Amundi Asset Management)–FR0011031392–
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
100,217.67 EUR
Change in NAV (16/07/2018)
1
1234567
Risk and reward profile
Recommended holding period
Change in NAV (16/07/2018)
100,217.67 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.
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Investment objective

The investment objective is, by investing in interest rate and money markets, to outperform the capitalised EONIA index over the recommended investment period, less any management fees.In the event of very low or even negative interest rates on the money market, the yield generated by the UCITS would not be sufficient to cover the costs of management and the UCITS' net asset value would fall structurally.

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Commentary 29/06/2018

The ECB's key interest rates were kept unchanged in June, with the refinancing rate at 0%, the deposit facility rate at -0.40%, and the margin rate at 0.25%. The Eonia closed the month at -0.36%, while the 3-month Euribor was unchanged at -0.32%. ECB President Mario Draghi has confirmed that the Bank's Quantitative Easing programme will close at the end of 2018. Meanwhile QE will be cut from €30 billion to €15 billion a month, from September. He added that the bank will not hike interest rates until at least summer 2019, which is later than originally anticipated by the consensus. Interest rate swaps on issues exceeding 15 months have dropped significantly, with the 2-year rate going from -0.26% on June 14 to -0.30% in the wake of Mario Draghi's talk, and remaining there until the month end. The markets were shaken again this month by the protectionist threat from across the Atlantic, and the Italian political crisis. As a result credit spreads widened and German yields fell. The 2-year German bund closed June at -0.66%, and its 10-year issue at 0.30%. Widening credit spreads impacted performance, while interest rate swaps made a positive contribution. We have continued to invest primarily on the market for negotiable debt securities. Given the widening trend on credit spreads, we have prioritised investment on short maturities.

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Change in NAV

Chart – Base 100 (16/07/2018)
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 R-EUR Cumulative Annualised
Since 01/01/2018

-0.23 %

-0.20 %

-0.23 %

-0.20 %

1 Year

-0.35 %

-0.37 %

-0.34 %

-0.36 %

3 Year

-0.37 %

-0.94 %

-0.12 %

-0.32 %

5 year

-0.23 %

-0.84 %

-0.05 %

-0.17 %

Since inception

0.22 %

-0.06 %

0.03 %

-0.01 %

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

Share class (R-EUR)

Benchmark

-0.23 %

-0.20 %

-0.35 %

-0.37 %

-0.37 %

-0.94 %

-0.23 %

-0.84 %

0.22 %

-0.06 %

Annualised

Share class (R-EUR)

Benchmark

-0.34 %

-0.36 %

-0.12 %

-0.32 %

-0.05 %

-0.17 %

0.03 %

-0.01 %

*Rolling periods

Annual performance



Statistics

VolatilityCorrelation coefficientMax. drawdownAlphaBeta
Share class R-EURBenchmarkShare class R-EURBenchmarkShare class R-EURBenchmarkShare class R-EURBenchmarkShare class R-EURBenchmark
1 Year*0.03 %0.13 %-0.34 %
3 Year *0.07 %0.02 %0.45 %-0.42 %0.02 %1.30 %
Max. monthly gain Since inception0.08 %
Max. monthly loss Since inception-0.05 %
Share class R-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 0.03 % 0.07 % 0.02 %
Tracking Error
Alpha 0.02 %
Correlation coefficient 0.13 % 0.45 %
Max. monthly loss -0.05 %
Max. monthly gain 0.08 %
Max. drawdown -0.34 % -0.42 %
Beta 1.30 %

Fund information

Inception Date (Fund)
20/08/1987
Inception Date (Part)
13/06/2011
Legal form
Mutual Fund
Benchmark
EONIA Capitalise (EUR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation and/or Distribution
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0011031392
AuM (fund)
1,081 M (EUR)
Regulatory authority
AMF
EU Regulation
UCITS
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

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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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