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EdR Euro Sustainable Growth Thematic equities

Thematic equities
Change in NAV (26/04/2017)
382.59 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
382.59 EUR
Change in NAV (26/04/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (26/04/2017)
382.59 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 31/03/2017

Despite a period of consolidation in which the market doubted President Donald Trump's ability to implement his economic promises after the setback to his healthcare reform, European markets continued to climb in March. Investors seem to have put their doubts about the outcome of the French presidential elections aside, given tangible signs of recovery, with, for example, SMIs showing a March composite index at 57 in Germany and even 57.6 in France. While the Federal Reserve decided, as expected, to hike US rates by 25 bps, the ECB took a further step towards tapering, stating that there was no need to reduce rates any further. Note that inflation in the euro zone fell from a four-year high to 2%. Most companies have published earnings reports above market expectations, confirming the acceleration in sales growth and earnings, particularly for cyclical stocks (Adecco, Valeo, Dassault Systèmes, etc). Banking stocks were driven upward in the wake of Intesa — after giving up on its proposed acquisition of Generali. The consumer discretionary and technology sectors, top performers since the beginning of the year, have continued to grow. During the month, we sold BMW. While its vehicle electrification strategy and overall sustainable development approach seem convincing, the maturity of the automobile cycle and the potential impact of Dieselgate on all European car makers tend to make us wary. We also exited Gemalto. The company's visibility over its telecom and banking customers, which account for 50% of its business, seems particularly poor to us. The most recent report also makes us wonder about the group's governance in terms of the quality of financial communication and internal control.

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Change in NAV

Chart – Base 100 (26/04/2017)
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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

Performance A-EUR Cumulative performance Annualised performance
Since 01/01/2017 11.00 %  
1 Year 16.80 % 16.80 %
3 Year 24.53 % 7.57 %
5 year 63.24 % 10.29 %
Since inception 1,054.82 % 7.74 %
Performance A-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 11.00 % 16.80 % 24.53 % 63.24 % 1,054.82 %
Annualised performance 16.80 % 7.57 % 10.29 % 7.74 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class A-EUR12.86 %14.01 %3.79 %3.48 %0.97 %0.97 %-1.21 %-0.46 %1.53 %0.52 %
Benchmark14.30 %14.79 %
Max. monthly lossMax. monthly gainMax. drawdownAlphaBeta
Since inceptionSince inception1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class A-EUR-31.14 %19.96 %-11.77 %-23.76 %-0.03 %-0.08 %0.87 %0.92 %
Benchmark
Share class A-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 12.86 % 14.01 % 14.30 % 14.79 %
Tracking Error 3.79 % 3.48 %
Sharpe ratio 1.53 % 0.52 %
Alpha -0.03 % -0.08 %
Correlation coefficient 0.97 % 0.97 %
Information ratio -1.21 % -0.46 %
Max. monthly loss -31.14 %
Max. monthly gain 19.96 %
Max. drawdown -11.77 % -23.76 %
Beta 0.87 % 0.92 %

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)
42 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
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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