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Edmond de Rothschild Fund Asean Equity

Change in NAV (17/11/2017)
104.48 CHF
Alan  RICHARDSON (Lead PM)–LU1583298085–
Alan RICHARDSON (Lead PM)
Joe Lam(ASEANEquityAnalyst)–LU1583298085–
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
104.48 CHF
Change in NAV (17/11/2017)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (17/11/2017)
104.48 CHF
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 31/10/2017

“Stock market confidence and risk appetite returning with credit spreads falling to pre-GFC lows 10-years ago”Market Review and Outlook ASEAN markets rose slightly in October sustaining a low volatility uptrend at 2-year highs. Singapore was the market leader with gains in both domestic and commodity cyclicals. Singapore property prices rose for the first time in four years in 3Q17. Singapore banks believe asset quality has stabilized while interest margins should expand with global economic growth and US fiscal stimulus. Singapore oil equipment manufacturers rose with oil prices. Governments and central banks in the major economies are successfully engineering positive feedback between faster non-inflationary growth, rising asset prices and growing risk appetite. Credit spreads have compressed to pre-GFC lows 10-years ago and mitigated volatility risk from US rate hikes, balance sheet tapering and tax cuts. Portfolio Strategy The ASEAN Fund gained 3.9% outperforming the benchmark by 1.9% pts. Overweighting Singapore and energy stocks added value while underweighting financials detracted value. The fund increased Singapore property developers and energy stocks. Property stocks should rerate above book valuations in the forthcoming price upcycle. Oil equipment manufacturers should benefit from rising oil prices supported by OPEC and Russian production cuts that are likely to be maintained throughout 2018. Indonesian telecom stocks were reduced on signs of price competition from smaller operators to gain market share. Thai banks were reduced as share prices are fairly valued relative to forecast growth and profitability

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Change in NAV

Chart – Base 100 (17/11/2017)
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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 K-CHF Cumulative Annualised

Since inception

4.48 %

3.74 %

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

Share class (K-CHF)

Benchmark

4.48 %

3.74 %

Annualised

Share class (K-CHF)

Benchmark

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
06/07/2017
Inception Date (Part)
27/07/2017
Legal form
SICAV
Benchmark
MSCI AC South East Asia USD Index
Currency (fund)
USD
Currency (share class)
CHF
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1583298085
AuM (fund)
96 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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