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 (16/05/2018)
110.50 EUR
Emmanuel  PAINCHAULT–FR0013293529–
Emmanuel PAINCHAULT
Pierre PEDROSA–FR0013293529–
Pierre PEDROSA
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
Recommended holding period
5 years
110.50 EUR
Change in NAV (16/05/2018)
5
1234567
Risk and reward profile
5 years
Recommended holding period
Change in NAV (16/05/2018)
110.50 EUR
Risk and reward profile
1234567
Recommended holding period
5 years
Emmanuel PAINCHAULT  
Pierre PEDROSA  
The identity of the managers presented in this document may change during the life of the product.
Contact

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 30/04/2018

While market focus has been on China-US trade tensions since mid-March, international equity markets rebounded in April (with the MSCI World up +2.8% in EUR). This was due mainly to the dollar's rise (+1.8% in EUR for April), following a hike in US long-term interest rates. In fact, the yield on the US 10-year T-bond broke the 3% ceiling in April for the first time since early 2014. Oil prices rose sharply to $75/bbl for Brent crude over the month, as a result of rising geopolitical tensions between the US, Syria and Russia, and their impact on the Iran question, as well as a significant increase in oil prices. US production rose less meanwhile and overall demand has remained strong. The fund climbed +3.5% in April, outperforming its benchmark. The best contributors to performance were hydrocarbon producers (such as Devon, Marathon and Total) and, in particular, the refiner Neste, which specialises in bio-diesel. It published excellent earnings for Q1 and a positive price outlook for 2018. The poorest contributors were Clean TeQ, Infineon, LG Chem and ON Semi. We increased our exposure to hydrocarbons, which are benefiting from the positive momentum linked to oil prices and a degree of under-valuation. We also added NXP Semiconductor, which significantly underperformed in the wait for China's regulator to give a green light for its buy-out by Qualcomm. The offer has meanwhile been extended to July's end. We sold Bacanora Minerals as the stock's liquidity has fallen. Overall, the Q1 reports have been positive for the fund's securities. The offshore wind operator, Ørsted, published good figures for Q1 showing positive generation data (thanks to lots of wind), and more importantly, announcing new projects in Taiwan (900 MW) and Germany (552 MW). VW has also published its figures on-line and has announced a €15bn five-year investment plan for its Chinese joint-ventures to develop electric vehicles and autonomous cars.

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Change in NAV

Chart – Base 100 (16/05/2018)
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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-EUR Cumulative Annualised

Since inception

10.50 %

8.31 %

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

Share class (I-EUR)

Benchmark

10.50 %

8.31 %

Annualised

Share class (I-EUR)

Benchmark

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
21/12/2017
Inception Date (Part)
03/04/2018
Legal form
Mutual Fund
Benchmark
MSCI World (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
FR0013293529
AuM (fund)
9 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
1,000 %
Current management fee
1.000 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
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.

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