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 Bond Allocation Diversified bonds

Diversified bonds
Change in NAV (16/02/2018)
102.06 EUR
Guillaume  RIGEADE–LU1161526733–
Guillaume RIGEADE
Eliezer BENZIMRA–LU1161526733–
Eliezer BENZIMRA
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
> 3 years
102.06 EUR
Change in NAV (16/02/2018)
3
1234567
Risk and reward profile
> 3 years
Recommended holding period
Change in NAV (16/02/2018)
102.06 EUR
Risk and reward profile
1234567
Recommended holding period
> 3 years
Guillaume RIGEADE  
Eliezer BENZIMRA  
The identity of the managers presented in this document may change during the life of the product.
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Investment objective

The Sub-Fund's objective is to offer an annualised performance exceeding the Index composed of 50% of the Barclays Capital Euro Aggregate Corporate Total Return Index and 50% of the Barclays Capital Euro Aggregate Treasury Total Return Index over the investment period.

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Commentary 31/01/2018

January saw a marked increase in pressure on interest rates in core countries. This shift, beginning in mid-December, impacted all maturities on the German and US yield curves. Ten-year bonds underperformed, rising 27 bps in Germany and 30 bps across the Atlantic, while 2-year rates also rose significantly, by 10 bps and 26 bps, respectively, in the euro zone and United States. Global economic growth is still very strong as illustrated by fresh numbers showing the economy to be very well oriented around the world. The bond markets have therefore upgraded inflation expectations, especially in the United States, and, in particular, are beginning to anticipate rising key rates for the next quarters, including in Europe. The ECB has been clear that it will not hike its rates before its QE ends, but since this is expected to happen soon — probably by the year end — the market reckons that the first rise in key rates is near, and certain by 2019. Although the single currency is still appreciating, European companies are benefiting from this positive economic environment. It has resulted in a rise in equity markets and tighter credit spreads. In the high yield segment, spread tightening was so pronounced that these securities posted positive performances for January, even though government bonds were running in the red. In the peripheral European countries, government bonds have seen their spreads narrowing sharply relative to Germany's. The positive momentum behind the economic fundamentals has indeed brought an improvement according to the rating agencies, but the strongest element of support has come from the reduction in political risk. Progress made in forming a grand coalition in Germany suggests a future government that favours further integration within the euro zone.

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Change in NAV

Chart – Base 100 (16/02/2018)
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 J-EUR Cumulative Annualised

Since inception

2.06 %

0.30 %

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

Share class (J-EUR)

Benchmark

2.06 %

0.30 %

Annualised

Share class (J-EUR)

Benchmark

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
30/12/2004
Inception Date (Part)
08/06/2017
Legal form
SICAV
Benchmark
50% BarCap Euro-Aggregate Corporates (EUR)
50% BarCap Euro-Aggregate Treasury (EUR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1161526733
AuM (fund)
1,956 M (EUR)
Regulatory authority
CSSF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Incorporation
Luxembourg
Maximum management fee
0,400 %
Current management fee
0.400 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
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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