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EdR Euro Leaders Europe equities

Europe equities
Change in NAV (22/03/2017)
167.37 EUR
Marc  HALPERIN–FR0010890137–
Marc HALPERIN
Anthony PENEL–FR0010890137–
Anthony PENEL
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
167.37 EUR
Change in NAV (22/03/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (22/03/2017)
167.37 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Marc HALPERIN  
Anthony PENEL  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The UCITS' investment objective is to seek performance through exposure to equity markets, primarily in the Eurozone, by selecting, on a discretionary basis, securities from an investment scope comparable to the MSCI EMU index.

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Commentary 28/02/2017

On track with last month, European macroeconomic data performed well in February (in terms of growth in the euro zone, inflation levels, unemployment, etc), and managed to offset ambient US and European political uncertainties. European markets were up sharply over the month, while still manifesting strong sector disparities, with technology and consumer growth leading, while banking stocks were in decline. February saw the release of a wave of annual reports, offering abundant positive prospects for the current year. Tech stocks are doing well in the wake of US reports showing very good figures for Nokia, STMicroelectronics and Dassault Systèmes. Telecoms are recovering, spurred by M&A rumours (between Sprint and T-Mobile US Inc) and more robust activity. In the luxury sector, tourists are spending more, with positive seasonal reports from fashion (Ferragamo, Moncler), while shareholder movements have continued to float the sector. Financials have been impacted by European interest rate fluctuations, but annual reports have been positive for most banks (including Crédit Suisse, ABN Amro, ING and Crédit Agricole). In M&A, early this month Reckitt confirmed its offer for the US company, Mead Johnson, long coveted for its position as the world's No 2 two in milk powder and infant formula. Talks opened by Peugeot on February 14, hoping to buy the European arm of General Motors (Opel and Vauxhall), seem to be making progress. On the other hand, Intesa confirmed it would not proceed with its proposed buy-out of Generali. A position was initiated during the month on Munich Ré, to take of its attractive valuation compared with Allianz. So we sold Allianz, in favour of the Munich-based reinsurer.

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Change in NAV

Chart – Base 100 (22/03/2017)
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

Performance E-EUR Cumulative performance Annualised performance
Since 01/01/2017 2.54 %  
1 Year 13.43 % 13.43 %
3 Year 19.16 % 6.01 %
5 year 61.84 % 10.10 %
Since inception 67.38 % 7.86 %
Performance E-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 2.54 % 13.43 % 19.16 % 61.84 % 67.38 %
Annualised performance 13.43 % 6.01 % 10.10 % 7.86 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class E-EUR14.22 %15.24 %3.97 %3.60 %0.96 %0.97 %-0.57 %-0.34 %0.98 %0.41 %
Benchmark14.25 %14.53 %
AlphaBeta
1 Year3 Year 1 Year3 Year
Share class E-EUR-0.03 %-0.10 %0.96 %1.02 %
Benchmark
Share class E-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 14.22 % 15.24 % 14.25 % 14.53 %
Tracking Error 3.97 % 3.60 %
Sharpe ratio 0.98 % 0.41 %
Alpha -0.03 % -0.10 %
Correlation coefficient 0.96 % 0.97 %
Information ratio -0.57 % -0.34 %
Beta 0.96 % 1.02 %

Fund information

Inception Date (Fund)
21/01/1981
Inception Date (Part)
01/06/2010
Legal form
Mutual Fund
Benchmark
MSCI EMU (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010890137
AuM (fund)
197 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
2,400 %
Current management fee
2.400 %
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.

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