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EdR Euro Sustainable Growth Thematic equities

Thematic equities
NAV (23/02/2017)
351.73 EUR
Marc  HALPERIN–FR0010505578–
Marc HALPERIN
Jean-Philippe DESMARTIN–FR0010505578–
Jean-Philippe DESMARTIN
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
351.73 EUR
NAV (23/02/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
NAV (23/02/2017)
351.73 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Marc HALPERIN  
Jean-Philippe DESMARTIN  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The UCITS' investment objective, over the duration of the recommended investment period, is to outperform its benchmark by investing in Eurozone companies, combining financial profitability with the implementation of a policy aiming to respect sustainable development criteria.

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Commentary 31/01/2017

January has confirmed that the macroeconomic recovery, already identified several months ago in Europe, is ongoing with SMIs on an uptrend. But political risk has had some impact with the effective start of President Donald Trump's career in the White House and the announcement of his first measures. For her part, UK PM Theresa May has presented her roadmap for Brexit, though triggering it will require Parliament's approval, according to Supreme Court's recent ruling. Given this environment, interest rates have been tightening in the euro zone with a widening OAT/Bund spread reflecting what looks more like a hike in the risk premium, than anticipation of a cyclical recovery. While the first corporate earnings reports of the season (SAP, LVMH, JC Decaux, STM) have generally been positive — with the notable exception of Unilever among market leaders — we have above all witnessed the return of large-scale M&A deals. These include Essilor and Luxottica merging to create the new world leader in optics, and Safran buying Zodiac Aerospace through a friendly takeover. US pharma giant, Johnson & Johnson acquired the Swiss lab Actelion for over $30 billion, bringing an eventful saga to an end. In Italy, Intesa has confirmed the possibility of a merger with Generali. The fund carried out an arbitrage this month: we have sold Linde, which is manifesting execution risks in the process of its merger with Praxair, and have been buying Air Liquide, which has completed its Airgas merger and is now offering strong growth prospects. We also bought Suez Environment, benefiting from three factors driving structural growth: rising urban population growth worldwide, shrinking resource availability, and tighter regulation by public authorities. Returning inflation and the cyclical recovery evident in waste recycling and processing (42% of sales) will have a positive impact on the group.

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Change in NAV

Chart – Base 100 (23/02/2017)
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 A-EUR Cumulative performance Annualised performance
Since 01/01/2017 2.05 %  
1 Year 14.02 % 13.98 %
3 Year 13.72 % 4.37 %
5 year 47.15 % 8.02 %
Since inception 961.67 % 7.50 %
Performance A-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 2.05 % 14.02 % 13.72 % 47.15 % 961.67 %
Annualised performance 13.98 % 4.37 % 8.02 % 7.50 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class A-EUR15.43 %13.79 %3.74 %3.46 %0.97 %0.97 %-1.31 %-0.56 %1.03 %0.46 %
Benchmark16.27 %14.68 %
AlphaBeta
1 Year3 Year 1 Year3 Year
Share class A-EUR-0.06 %-0.11 %0.92 %0.91 %
Benchmark
Share class A-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 15.43 % 13.79 % 16.27 % 14.68 %
Tracking Error 3.74 % 3.46 %
Sharpe ratio 1.03 % 0.46 %
Alpha -0.06 % -0.11 %
Correlation coefficient 0.97 % 0.97 %
Information ratio -1.31 % -0.56 %
Beta 0.92 % 0.91 %

Fund information

Inception Date (Fund)
05/07/1984
Inception Date (Part)
05/07/1984
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
FR0010505578
AuM (fund)
38 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
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
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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