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 Energy Evolution Thematic equities

Thematic equities
Change in NAV (16/01/2019)
79.03 USD
Emmanuel  PAINCHAULT–FR0013293487–
Marouane BOUCHRIHA–FR0013293487–
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
79.03 USD
Change in NAV (16/01/2019)
Risk and reward profile
5 years
Recommended holding period
Change in NAV (16/01/2019)
79.03 USD
Risk and reward profile
Recommended holding period
5 years
Marouane BOUCHRIHA  
The identity of the managers presented in this document may change during the life of the product.

Investment objective

The UCITS' objective is to seek, over a recommended investment horizon of more than 5 years, a performance exceeding that of its benchmark, the MSCI World (NR) USD, by investing on international equity markets though the selection of companies linked to the gradual evolution of the energy mix. This thematic fund will not be limited exclusively to the energy sector and may invest in companies pertaining to the three pillars of investment identified by the management company: the resources required for this evolution, the technologies to implement it and turnkey solutions for the user.

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Commentary 30/06/2018

International equity markets lost only 0.2% in June (in EUR) in a high volatility climate linked to escalating trade tensions. While June started well, with a controlled message from central bankers that brought greater visibility to investors, it was — unsurprisingly — Donald Trump who threw oil on the fire with the establishment of new customs barriers, and the threat of raising the stakes if China considered retaliation. Oil prices continued to rise in June as Opec members and Russia decided to increase their production (by 560k bbl/day) and to fully respect the quotas — so far all the producing countries have overall actually exceeded their 100% compliance levels — to compensate for the decline in Venezuela's production. The fund posted a performance of -3.3% in June, underperforming the equity markets. In this, it was penalised by its under-exposure to US equities, and its over-exposure to those in Europe. The best contributors to performance were Murata, Umicore and Hess, while the worst were CleanTeq plus the automobile sector (VW, Valeo). Murata has continued to benefit from positive momentum on the price of multilayer ceramic capacitors, given strong demand from the automotive and industry sectors, while supply remains constrained. Umicore, which arranged its Capital Markets Day in Seoul, understands that the market for automotive catalysts is expected to double by 2025 due to tightening emission standards, particularly in Europe and China. Clean Teq disappointed the market with an update to its feasibility study, which envisages greater capex requirements and costs for its nickel-cobalt project in Australia. We have initiated a position on Hess which promises one of the finest growth stories following its offshore discoveries in the coastal waters off French Guyana. The auto sector has meanwhile been suffering from escalating trade tensions between the United States and China, and,more specifically, was affected by Daimler's profits warning

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Fund information

Inception Date (Fund)
Inception Date (Part)
Legal form
Mutual Fund
MSCI World (NR)
Currency (fund)
Currency (share class)
Distribution Policy
Valuation frequency
Minimum initial investment
1 Share
AuM (fund)
15 M (EUR)
Regulatory authority
Management company
Edmond de Rothschild Asset Management (France)
Maximum management fee
2,000 %
Current management fee
2.000 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % 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.