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EdR Europe Midcaps Europe equities

Europe equities
Change in NAV (20/06/2017)
467.11 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
467.11 EUR
Change in NAV (20/06/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (20/06/2017)
467.11 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 31/05/2017

After sacking the FBI director investigating links between Russia and the President's former security advisor, rumours that Donald Trump might be heading for impeachment hit the markets. This controversy, coupled with new allegations of corruption in Brazil and thus the possibility of fresh elections there, led to a rebound in market volatility and the euro strengthening against the dollar. As for key US interest rates, a further hike in the near future was confirmed in the Federal Reserve's minutes. Investors did not consider Opec's month-end decision to maintain its production cuts until March 2018 as being sufficiently aggressive. In the run-up to parliamentary elections in Britain and France, on June 8 and 11 respectively, markets have been rather conservative this month. However, Emmanuel Macron's election victory, anticipated immediately after the first round of the presidential polls, has been excellent news for the French economy and the future of the European Union. The Old Continent has been holding up well, with the PMI at its highest since 2011, like Germany's industrial confidence index, the IFO. Positions were initiated on four stocks, while two were sold during the month. Worldline supplies online and physical payment platforms, a technology that is expanding rapidly with sustained demand both for security and new solutions. Cineworld operates cinemas in Britain and several Eastern European countries. A combination of multiplex under-penetration and a sharp rise in disposable income in Eastern Europe is expected to generate strong growth in sales and earnings. The French group Showroomprivé, a specialist in on-line flash sales, signed a partnership with Conforama (owned by Steinhoff), that will enable the group to better develop its home furnishings and decoration activity (its second largest business after fashion). CFE is a Belgian group that is specialised in dredging, while also growing its offshore wind turbine installation business — a very promising niche that requires specialised vessels. Meanwhile, we have sold TalkTalk and Gemalto, which no longer meet our criteria for reliable management.

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Change in NAV

Chart – Base 100 (20/06/2017)
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

13.57 %

12.98 %

13.57 %

12.98 %

1 Year

20.01 %

19.63 %

20.01 %

19.63 %

3 Year

37.93 %

28.63 %

11.30 %

8.75 %

5 year

95.07 %

96.96 %

14.29 %

14.51 %

Since inception

512.73 %

400.46 %

8.39 %

7.42 %

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

Share class (A-EUR)

Benchmark

13.57 %

12.98 %

20.01 %

19.63 %

37.93 %

28.63 %

95.07 %

96.96 %

512.73 %

400.46 %

Annualised

Share class (A-EUR)

Benchmark

20.01 %

19.63 %

11.30 %

8.75 %

14.29 %

14.51 %

8.39 %

7.42 %

*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*10.20 %10.75 %3.63 %0.94 %-0.27 %1.75 %
3 Year *13.62 %13.49 %3.37 %0.97 %0.57 %0.69 %
Max. drawdownAlphaBeta
Share class A-EURBenchmarkShare class A-EURBenchmarkShare class A-EURBenchmark
1 Year*-13.45 %0.02 %0.89 %
3 Year *-23.66 %0.17 %0.98 %
Max. monthly gain Since inception28.17 %
Max. monthly loss Since inception-32.79 %
Share class A-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 10.20 % 13.62 % 10.75 % 13.49 %
Tracking Error 3.63 % 3.37 %
Sharpe ratio 1.75 % 0.69 %
Alpha 0.02 % 0.17 %
Correlation coefficient 0.94 % 0.97 %
Information ratio -0.27 % 0.57 %
Max. monthly loss -32.79 %
Max. monthly gain 28.17 %
Max. drawdown -13.45 % -23.66 %
Beta 0.89 % 0.98 %

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)
320 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.

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