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
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Change in NAV (23/04/2019)
101.94 GBP
Guillaume RIGEADE–LU1426148984–
Guillaume RIGEADE
Eliezer BENZIMRA–LU1426148984–
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
101.94 GBP
Change in NAV (23/04/2019)
3
1234567
Risk and reward profile
> 3 years
Recommended holding period
Change in NAV (23/04/2019)
101.94 GBP
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 29/03/2019

March saw an impressive bond rally, driving core rates down on all maturities — down 25 bps on Germany's 10-year Bund, and 31 bps lower on the 10-year US T-Bond. Germany is once again borrowing at a negative rate on maturities running up to 12 years! Fears of an economic slowdown were fuelled by a marked deterioration in PMI indices, with the notable exception of China's, which seem to be rebounding. These concerns led central banks to change their tone and confirm new measures for monetary easing at their March meetings. Accordingly, the European Central Bank announced the introduction of targeted bank loans (TLTRO) and extended its forward guidance to exclude a rate hike before 2020. The Federal Reserve has been accommodating, too: Key rates were left unchanged, with the dots adjusted downwards (and no further rate hikes expected for this year), a downgrade to GDP growth forecasts, and a halt in September to the reduction in the Fed's balance sheet. While in Britain, total uncertainty reigns. The United Kingdom was given a few weeks' extension in which to implement Brexit, but the likelihood of a ‘hard' Brexit has further dampened investors' risk appetite. Given this climate, credit spreads (both corporate and sovereign) have remained relatively stable.

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Change in NAV

Chart – Base 100 (23/04/2019)
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Performance A-GBP Cumulative Annualised

–

–

–

–

–

–

-0.28 %

2.58 %

–

–

–

–

–

–

–

–

Since inception

1.94 %

3.72 %

1.11 %

2.12 %

Since 01/01/2019 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (A-GBP)

Benchmark

–

–

–

–

–

–

–

–

1.94 %

3.72 %

Annualised

Share class (A-GBP)

Benchmark

 –

-0.28 %

2.58 %

–

–

–

–

1.11 %

2.12 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class A-GBPBenchmarkShare class A-GBPBenchmarkShare class A-GBPBenchmarkShare class A-GBPBenchmarkShare class A-GBPBenchmark
1 Year*2.71 %2.05 %3.04 %–0.20 %–-0.93 %–0.77 %–
3 Year *––––––––––
Max. drawdownAlphaBeta
Share class A-GBPBenchmarkShare class A-GBPBenchmarkShare class A-GBPBenchmark
1 Year*-3.62 %–-0.02 %–0.27 %–
3 Year *––––––
Max. monthly gain Since inception–
Max. monthly loss Since inception–
Share class A-GBP
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 2.71 % – 2.05 % –
Tracking Error 3.04 % – – –
Sharpe ratio 0.77 % – – –
Alpha -0.02 % – – –
Correlation coefficient 0.20 % – – –
Information ratio -0.93 % – – –
Max. drawdown -3.62 % – – –
Beta 0.27 % – – –

Fund information

Inception Date (Fund)
30/12/2004
Inception Date (Part)
28/07/2017
Legal form
SICAV
Benchmark
50% BarCap Euro-Aggregate Corporates (EUR)
50% BarCap Euro-Aggregate Treasury (EUR)
Currency (fund)
EUR
Currency (share class)
GBP
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1426148984
AuM (fund)
3,103 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
0,800 %
Current management fee
0.800 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
1.00 % 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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