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 (07/12/2017)
104.03 USD
Guillaume  RIGEADE–LU1426150295–
Guillaume RIGEADE
Eliezer BENZIMRA–LU1426150295–
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
104.03 USD
Change in NAV (07/12/2017)
3
1234567
Risk and reward profile
> 3 years
Recommended holding period
Change in NAV (07/12/2017)
104.03 USD
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 30/11/2017

Despite near-neutral performances across all bond markets, November witnessed an episode of volatility and pressure on credit spreads in both the developed and emerging regions. Early in the month Venezuela expressed a determination to restructure its external debt, while its Treasury continued to meet its various deadlines in terms of coupons and principal repayments. Since this news had been expected for weeks, and even months, it had no significant impact on the markets. However, after over 18 months' positive performance by the credit markets in Europe and the United States, there was a wave of profit-taking. This was accompanied by volatility on certain big issuers, such as Altice, which is currently experiencing various challenges. This led to a number of downturns of more than 1% over the month, in particular on the credit markets. In terms of yield curves, these movements were fairly limited in absolute terms since the 10Y US T-Note closed up by +2 bps and the German 10Y bund remained unchanged. However, one must pay attention to the level of intra-curve shifts since the US yield curve, for example, has flattened by more than 15 bps on maturities from 5Y to 30Y in a climate of gradually rising interest rates — with no apparent sign of an increase in inflation. Similarly, the European yield curve has flattened by nearly 10 bps on the same maturities, because the ECB's official discourse has weakened conviction that rates will remain low well after its QE ends.

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Change in NAV

Chart – Base 100 (07/12/2017)
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-USD Cumulative Annualised

Since inception

4.03 %

2.99 %

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

Share class (J-USD)

Benchmark

4.03 %

2.99 %

Annualised

Share class (J-USD)

Benchmark

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
30/12/2004
Inception Date (Part)
31/03/2017
Legal form
SICAV
Benchmark
50% BarCap Euro-Aggregate Corporates (EUR)
50% BarCap Euro-Aggregate Treasury (EUR)
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
500000.00 USD
ISIN Code
LU1426150295
AuM (fund)
1,674 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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