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 (17/01/2018)
162.99 USD
Camilla  NATHHORST ODEVALL–FR0010998112–
Camilla NATHHORST ODEVALL
Ariane HAYATE–FR0010998112–
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
162.99 USD
Change in NAV (17/01/2018)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (17/01/2018)
162.99 USD
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 29/12/2017

Data on the economy has been looking good as the year draws to an end, with confidence indicators unmatched for many years. Given this climate, the US Federal Reserve has opted to raise its key interest rate by 25 bps, widely expected by the markets, while announcing three new hikes in 2018. It has also raised its US GDP growth forecasts for 2018 and 2019, taking them to +2.5% against their previous levels of +2.4% and +2.1% respectively. Significant progress has been made at the political level, too, with a final vote approving US tax reform, and a last-minute vote to avoid shutting down the Administration after the debt ceiling was reached. Meanwhile, the ECB has left its monetary policy unchanged, without giving any further hint on the future of its asset repurchasing programme which will fall, as expected, from €60 billion in monthly purchasing to €30 billion from January 1. Growth forecasts for Europe have been upgraded to +2.3% for 2018, while the inflation forecast for 2020 is 1.7% y-o-y, which remains moderate and offers credibility to a very slow rise in key rates. In Spain, in the wake of the Catalan elections, the three independence parties have retained a majority in Parliament at Barcelona, but have a minority in total vote numbers. The Catalan parliament has until February 8 to form a government and nominate a president. Meanwhile, Brexit negotiations will be able to make progress after the signing of an agreement on the Irish border issue and on the total sum to be billed on the final exit invoice. Within the portfolio, Criteo has continued to suffer from Apple's ability to limit user-tracking behaviour on its browser. In a press release, Criteo said the impact of these measures could cut its turnover by 22% in 2018, before sales growth recovers its historic double-digit pace in 2019. The Midcap universe outperformed that of Large Caps again in 2017, and the Midcap earnings growth outlook remains very attractive for 2018, too.

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Change in NAV

Chart – Base 100 (17/01/2018)
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 B-USD Cumulative Annualised
Since 01/01/2018

4.58 %

4.30 %

4.58 %

4.30 %

1 Year

33.61 %

37.80 %

33.61 %

37.80 %

3 Year

50.12 %

45.26 %

14.47 %

13.23 %

5 year

62.03 %

65.18 %

10.13 %

10.55 %

Since inception

62.99 %

65.56 %

7.25 %

7.50 %

Since 01/01/2018 1 Year 3 Year 5 year Since inception
Cumulative

Share class (B-USD)

Benchmark

4.58 %

4.30 %

33.61 %

37.80 %

50.12 %

45.26 %

62.03 %

65.18 %

62.99 %

65.56 %

Annualised

Share class (B-USD)

Benchmark

33.61 %

37.80 %

14.47 %

13.23 %

10.13 %

10.55 %

7.25 %

7.50 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class B-USDBenchmarkShare class B-USDBenchmarkShare class B-USDBenchmarkShare class B-USDBenchmarkShare class B-USDBenchmark
1 Year*9.81 %8.58 %3.61 %0.93 %-1.09 %3.91 %
3 Year *13.97 %13.89 %3.33 %0.97 %0.15 %0.75 %
Max. drawdownAlphaBeta
Share class B-USDBenchmarkShare class B-USDBenchmarkShare class B-USDBenchmark
1 Year*-3.97 %-0.09 %1.06 %
3 Year *-21.80 %0.06 %0.98 %
Max. monthly gain Since inception16.17 %
Max. monthly loss Since inception-19.00 %
Share class B-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 9.81 % 13.97 % 8.58 % 13.89 %
Tracking Error 3.61 % 3.33 %
Sharpe ratio 3.91 % 0.75 %
Alpha -0.09 % 0.06 %
Correlation coefficient 0.93 % 0.97 %
Information ratio -1.09 % 0.15 %
Max. monthly loss -19.00 %
Max. monthly gain 16.17 %
Max. drawdown -3.97 % -21.80 %
Beta 1.06 % 0.98 %

Fund information

Inception Date (Fund)
22/12/1994
Inception Date (Part)
28/01/2011
Legal form
Mutual Fund
Benchmark
Stoxx Europe Small 200 (NR)
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010998112
AuM (fund)
338 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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