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 Europe Midcaps Europe equities

Europe equities
Change in NAV (14/08/2018)
446.20 EUR
Camilla  NATHHORST ODEVALL–FR0010177998–
Camilla NATHHORST ODEVALL
Ariane HAYATE–FR0010177998–
Ariane HAYATE
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
446.20 EUR
Change in NAV (14/08/2018)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (14/08/2018)
446.20 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Camilla NATHHORST ODEVALL  
Ariane HAYATE  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

Over a recommended investment period of more than five years, the UCITS is managed with the aim of achieving net asset value growth by investing in mid-cap companies in Europe.The selection criteria will be outlined in the investment strategy.

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Commentary 31/07/2018

July was a little easier on the trade war front, especially between Europe and United States, after an unexpected agreement between Donald Trump and EC President Jean-Claude Juncker. The ECB's confirmation that there would be no rate hikes before summer 2019 and promises of a fiscal stimulus in China were welcomed as credit spreads eased in a climate of modest rate hikes and a rise in European equity indices. It should, however, be noted that the rise in SMEs was due mainly to defensive sectors, with healthcare, telecoms and utilities leading the Stoxx Europe Small 200 index. In the mid-stock universe, the quarterly reports have so far been pretty dispersed. Currency effects have been less damaging this quarter, though a number of companies have disappointed, citing commodity prices, trade tensions, wage pressures and higher transportation costs. Markets are putting a high premium on the risk of a turnaround in the economic cycle, a risk heightened by persistent uncertainty, fuelled by the destabilising rhetoric coming from the US Administration. The fund suffered from its exposure to cyclical stocks over the month. Meanwhile, quarterly reports published by Evolution Gaming, Edenred and Amplifon (which also made a significant acquisition) were welcomed. In contrast, Avanza, Flow Trader and Sophos proved disappointing. Within the portfolio, two new stocks with more structural growth were added: Wizz Air, a low-cost airline in Eastern Europe, plus Solutions 30, an IT installation and service provider. Three more cyclical positions were sold: Kion, Jenoptik and Dialog.

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Change in NAV

Chart – Base 100 (14/08/2018)
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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 A-EUR Cumulative Annualised

-2.41 %

8.33 %

2.68 %

6.08 %

7.94 %

9.96 %

Since inception

485.30 %

434.02 %

7.75 %

7.34 %

Since 01/01/2018 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (A-EUR)

Benchmark

485.30 %

434.02 %

Annualised

Share class (A-EUR)

Benchmark

-2.41 %

8.33 %

2.68 %

6.08 %

7.94 %

9.96 %

7.75 %

7.34 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmark
1 Year*12.50 %10.92 %4.08 %0.95 %-2.27 %0.79 %
3 Year *12.36 %12.46 %4.01 %0.95 %-0.68 %0.48 %
Max. drawdownAlphaBeta
Share class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmark
1 Year*-10.62 %-0.18 %1.08 %
3 Year *-21.90 %-0.19 %0.94 %
Max. monthly gain Since inception26.56 %
Max. monthly loss Since inception-32.79 %
Share class A-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 12.50 % 12.36 % 10.92 % 12.46 %
Tracking Error 4.08 % 4.01 %
Sharpe ratio 0.79 % 0.48 %
Alpha -0.18 % -0.19 %
Correlation coefficient 0.95 % 0.95 %
Information ratio -2.27 % -0.68 %
Max. monthly loss -32.79 %
Max. monthly gain 26.56 %
Max. drawdown -10.62 % -21.90 %
Beta 1.08 % 0.94 %

Fund information

Inception Date (Fund)
22/12/1994
Inception Date (Part)
22/12/1994
Legal form
Mutual Fund
Benchmark
Stoxx Europe Small 200 (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010177998
AuM (fund)
174 M (EUR)
Regulatory authority
AMF
EU Regulation
UCITS
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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