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 Euro Sustainable Growth Thematic equities

Thematic equities
Change in NAV (14/11/2018)
92.00 EUR
Marc  HALPERIN–FR0013307717–
Marc HALPERIN
Jean-Philippe DESMARTIN–FR0013307717–
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
92.00 EUR
Change in NAV (14/11/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (14/11/2018)
92.00 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.
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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 31/10/2018

October saw a sharp drop in European equity markets and a resurgence in volatility. Among the highlights, a rise in the number of profit warnings accompanying the quarterly earnings reports testifies to the spread of macro risks to the micro-economic sphere. On the political front, Italian sovereign risk has continued to dominate the news. While the ratings agencies seem to have granted a reprieve to the Italian government, the latter has begun a tug-of-war with the European Commission, which has rejected its draft budget. As a result, Italy's 10-year bond has continued to climb above 3%. Turning to the economy, monetary conditions are becoming increasingly restrictive on both sides of the Atlantic, while doubts are emerging over the course of world growth and the impact of the trade war launched by the United States — all of which are beginning to show through at the corporate level. The quarterly earnings reports have come out in tandem with numerous profit warnings, some heavily sanctioned, and not even sparing a number of well-valued growth stocks. Returning risk aversion has triggered very noticeable sector rotation in favour of the most defensive sectors. Over the month, we sold our position on Gestamp, given the difficulties facing the automotive sector as a whole. We also strengthened our exposure to large-cap financials by introducing ABN Amro, and strengthening Deutsche Telekom (telecommunications) and Iberdrola (utilities). This Spanish electricity utility is preparing a big leap forward in the field of renewable energy in the United States, which will require an investment of around €25 billion. The company, through its subsidiary Avangrid, currently has an installed capacity of 6,600 MW and boasts a project portfolio that should allow it to triple its current capacity to over 20,000 MW.

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Fund information

Inception Date (Fund)
05/07/1984
Inception Date (Part)
10/01/2018
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
FR0013307717
AuM (fund)
154 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
1,700 %
Current management fee
1.700 %
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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