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 Fund Asean Equity Emerging equities

Emerging equities
Change in NAV (16/11/2018)
94.28 USD
Alan  RICHARDSON (Lead PM)–LU1583297863–
Alan RICHARDSON (Lead PM)
Joe Lam(ASEANEquityAnalyst)–LU1583297863–
Joe Lam(ASEANEquityAnalyst)
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
94.28 USD
Change in NAV (16/11/2018)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (16/11/2018)
94.28 USD
Risk and reward profile
1234567
Recommended holding period
> 5 years
Alan RICHARDSON (Lead PM)  
Joe Lam(ASEANEquityAnalyst)  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Sub-Fund's investment objective, over a recommended investment period of more than 5 years, is to grow net asset value by investing in companies registered predominantly in Asean Countries.

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Commentary 30/06/2018

Market declines and foreign fund selling accelerated in June Persistent market weakness over the past five months reflect an accumulation of growth fears from tighter financial conditions and US-China trade protectionism. The market drawdown since January is approaching the 20% bear market threshold and leading indicator of economic recession. Yet the economic impact from higher interest rates and trade protectionism is not expected to exceed 1% from the current 8% nominal GDP growth forecast. The stock market should be close to bottoming since the majority of portfolio de-risking and capital outflow has been executed while market valuations are close to historical lows. However, market direction in 2H18 is likely to be range-bound with rebounds capped at 15% as multiple expansion is obstructed by ongoing concerns over macro growth risks. Fund underperformance was caused by overweighting Singapore and Indonesian bank and property stocks. Macro-driven capital outflow compromised the fund's bottom-up approach to generate alpha. Indiscriminate fund selling should have already peaked allowing for stock differentiation and fund alpha in 2H18. Fund cash reserves were deployed to raise the Philippines from underweight to overweight. Similar to Indonesia last month, capital markets weakness in the Philippines have priced-in liquidity tightening from USD appreciation and higher interest rates. Banks and conglomerate stocks were bought as valuations declined to historical lows while corporate profitability has not been impacted by weak capital markets

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Change in NAV

Chart – Base 100 (16/11/2018)
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 K-USD Cumulative Annualised

-11.01 %

-3.27 %

Since inception

-5.72 %

2.10 %

-4.23 %

1.54 %

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

Share class (K-USD)

Benchmark

-5.72 %

2.10 %

Annualised

Share class (K-USD)

Benchmark

-11.01 %

-3.27 %

-4.23 %

1.54 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class K-USDBenchmarkShare class K-USDBenchmarkShare class K-USDBenchmarkShare class K-USDBenchmarkShare class K-USDBenchmark
1 Year*13.97 %13.11 %3.80 %0.96 %-2.32 %-0.50 %
3 Year *
Max. drawdownAlphaBeta
Share class K-USDBenchmarkShare class K-USDBenchmarkShare class K-USDBenchmark
1 Year*-24.66 %-0.18 %1.02 %
3 Year *
Max. monthly gain Since inception
Max. monthly loss Since inception
Share class K-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 13.97 % 13.11 %
Tracking Error 3.80 %
Sharpe ratio -0.50 %
Alpha -0.18 %
Correlation coefficient 0.96 %
Information ratio -2.32 %
Max. drawdown -24.66 %
Beta 1.02 %

Fund information

Inception Date (Fund)
06/07/2017
Inception Date (Part)
06/07/2017
Legal form
SICAV
Benchmark
MSCI AC South East Asia USD Index
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1583297863
AuM (fund)
104 M (USD)
Regulatory authority
CSSF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
SAMSUNG ASSET MANAGEMENT (HONG KONG) LIMITED
Incorporation
Luxembourg
Maximum management fee
0,850 %
Current management fee
0.850 %
Subscription and redemption conditions
Daily before 4.30 pm C.E.T.on next day's net asset value

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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