Mobile Logo

EdR Euro Sustainable Credit Corporate bonds

Corporate bonds
Change in NAV (24/04/2017)
13,690.05 EUR
Alexis  FORET–FR0010789321–
Alexis FORET
Raphaël CHEMLA–FR0010789321–
Raphaël CHEMLA
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
> 2 years
13,690.05 EUR
Change in NAV (24/04/2017)
3
1234567
Risk and reward profile
> 2 years
Recommended holding period
Change in NAV (24/04/2017)
13,690.05 EUR
Risk and reward profile
1234567
Recommended holding period
> 2 years
Alexis FORET  
Raphaël CHEMLA  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The UCITS aims to outperform its benchmark index over the recommended investment period through investments on the corporate bond markets that seek to combine financial profitability and the implementation of a sustainable development policy in return for a risk of capital loss.

View more View less

Commentary 31/03/2017

The Dutch elections, the Brexit kick-off, and trouble in the Trump administration barely affected credit spreads. Approaching elections in France have, however, added some volatility to government bond markets. The corporate reporting season has ended, and, in general, there have been no unpleasant surprises to report. The Euro Investment Grade credit market was negatively impacted by a drop in government bond prices. However, credit spreads narrowed slightly in March as a result of positive economic data, as well as a modest decline in political concerns. A notable exception was the energy sector, which saw spreads widening slightly due to lower crude oil prices. European corporate debt outperformed its US counterpart in credit spread terms, in the wake of investor concerns over Donald Trump's ability to get his tax reforms through after his health reform setback. The high yield credit market in Europe remains largely driven by QE (which will dip in April to €60 billion in asset repurchasing from €80 billion per month), and by technical factors largely benefiting the issuers. The primary market was also well supported in March with more than €13 billion in new issues, most intended to refinance existing bonds. Despite outflows from some high yield funds this month, credit spreads have remained low and a note of shortage persists. Financial subordinates have outperformed the credit market since the beginning of the year to post positive performances with CoCos +0.69% and insurance perpetuals +1.83% in March. Deustche Bank's Additional Tier 1 bonds were the top performers in March (+5 bps) after its announcement of an €8 billion capital increase and a revision of its strategy. Credit Suisse raised the possibility of a capital increase of CHF 3-5 billion instead of an IPO for its Swiss subsidiary.

View more View less

Change in NAV

Chart – Base 100 (24/04/2017)
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 I-EUR Cumulative performance Annualised performance
Since 01/01/2017 1.35 %  
1 Year 4.60 % 4.57 %
3 Year 10.50 % 3.38 %
5 year 26.18 % 4.76 %
Since inception 36.90 % 4.28 %
Performance I-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 1.35 % 4.60 % 10.50 % 26.18 % 36.90 %
Annualised performance 4.57 % 3.38 % 4.76 % 4.28 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class I-EUR2.32 %3.27 %1.27 %1.33 %0.85 %0.91 %2.13 %0.01 %1.16 %1.24 %
Benchmark2.37 %2.88 %
Max. monthly lossMax. monthly gainMax. drawdownAlphaBeta
Since inceptionSince inception1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class I-EUR-3.85 %3.42 %-1.82 %-4.67 %0.06 %-0.01 %0.84 %1.04 %
Benchmark
Share class I-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 2.32 % 3.27 % 2.37 % 2.88 %
Tracking Error 1.27 % 1.33 %
Sharpe ratio 1.16 % 1.24 %
Alpha 0.06 % -0.01 %
Correlation coefficient 0.85 % 0.91 %
Information ratio 2.13 % 0.01 %
Max. monthly loss -3.85 %
Max. monthly gain 3.42 %
Max. drawdown -1.82 % -4.67 %
Beta 0.84 % 1.04 %

Fund information

Inception Date (Fund)
24/06/1982
Inception Date (Part)
30/10/2009
Legal form
Mutual Fund
Benchmark
BarCap Euro-Aggregate Corporates (EUR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
FR0010789321
AuM (fund)
74 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
0,500 %
Current management fee
0.500 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value

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