Mobile Logo

EdR Europe Midcaps Europe equities

Europe equities
Change in NAV (19/10/2017)
468.69 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
468.69 EUR
Change in NAV (19/10/2017)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (19/10/2017)
468.69 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.

View more View less

Commentary 29/09/2017

Across the Atlantic, despite the geopolitical tensions with North Korea, the Q2 upgrade to US growth (at 3% y-o-y) sent a reassuring signal about the resilience of the economic cycle. In Germany, over the same period, GDP continued to grow, if at a slightly slower pace than in the previous quarter: 0.6% vs 0.7%. Still in Q2, France confirmed its economic growth was running at 0.5%, on track with the trend set in the last two quarters. After gaining +1.1% in 2016, growth has now climbed to +1.3% in 2017. Given this climate, the ECB has hinted that during October it will announce new measures with which to end its balance-sheet expansion. Meanwhile, the US Federal Reserve has announced that it will cut its balance sheet from next month onward, by a further $10 billion every quarter, until it has achieved a monthly cut of $50 billion. In the wake of these statements, the likelihood of a rise in the Federal Fund rates by the year-end has risen sharply, from less than 40% just two weeks ago, to almost 70% today. With the help of the bond recovery and a re-launch of US tax reform plans, the US dollar rallied to below $1.18/€ after peaking at $1.20/€ during the month. In this environment, the Stoxx 600 index recovered two-thirds of the ground lost since reaching its high point in May, while the Stoxx Small 200, our benchmark, has fully recovered from its correction. Within the portfolio, we have initiated a position on Gestamp, a Spanish subcontractor in the auto industry. The group currently generates 7%- 9% growth per year while enjoying high visibility thanks to its long-term contract schedule. Gestamp will soon emerge from a period of intense investment that should result in better margins. The other stock initiated, LeoVegas, is a games, casino and sports betting operator. This Swedish company's advantage is its ability to offer its games on mobile devices while ensuring speed, security and a diversified catalogue. LeoVegas is well-positioned to continue its strong growth while also taking market share from its direct competitors.

View more View less

Change in NAV

Chart – Base 100 (19/10/2017)
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 A-EUR Cumulative Annualised
Since 01/01/2017

13.96 %

14.97 %

13.96 %

14.97 %

1 Year

17.15 %

19.79 %

17.15 %

19.79 %

3 Year

57.93 %

47.81 %

16.40 %

13.87 %

5 year

78.51 %

82.36 %

12.28 %

12.76 %

Since inception

514.80 %

409.26 %

8.28 %

7.39 %

Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

Share class (A-EUR)

Benchmark

13.96 %

14.97 %

17.15 %

19.79 %

57.93 %

47.81 %

78.51 %

82.36 %

514.80 %

409.26 %

Annualised

Share class (A-EUR)

Benchmark

17.15 %

19.79 %

16.40 %

13.87 %

12.28 %

12.76 %

8.28 %

7.39 %

*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*8.66 %8.76 %3.58 %0.91 %-0.93 %2.39 %
3 Year *13.37 %13.49 %3.26 %0.97 %0.61 %0.87 %
Max. drawdownAlphaBeta
Share class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmark
1 Year*-5.75 %-0.02 %0.90 %
3 Year *-23.66 %0.19 %0.96 %
Max. monthly gain Since inception28.17 %
Max. monthly loss Since inception-29.98 %
Share class A-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 8.66 % 13.37 % 8.76 % 13.49 %
Tracking Error 3.58 % 3.26 %
Sharpe ratio 2.39 % 0.87 %
Alpha -0.02 % 0.19 %
Correlation coefficient 0.91 % 0.97 %
Information ratio -0.93 % 0.61 %
Max. monthly loss -29.98 %
Max. monthly gain 28.17 %
Max. drawdown -5.75 % -23.66 %
Beta 0.90 % 0.96 %

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)
365 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

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