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EdR Fund China China equities

China equities
Change in NAV (22/03/2017)
157.01 EUR
Wei-Wei  LI–LU1160365505–
Wei-Wei LI
Na YOU–LU1160365505–
Na YOU
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
157.01 EUR
Change in NAV (22/03/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (22/03/2017)
157.01 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Wei-Wei LI  
Na YOU  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The objective is to achieve long-term growth of the Sub-Fund's capital by investing its assets in equities of companies whose activities are predominantly linked to China.

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Commentary 28/02/2017

China's February manufacturing PMIs point to continued strength in industrial activity growth. The official manufacturing PMI unexpectedly rebounded to 51.6 in February (vs. 51.3 in January, Consensus: 51.2). Separately, Caixin manufacturing PMI (whose sample is skewed towards SMEs and private companies) also rose to 51.7 in February (vs. 51.0 in January). Global Trade Leading indicator continues its upturn and suggests better external demand growth in the coming months. Meanwhile, domestic growth momentum still holds up well, with private sector investment showing signs of improvement. We therefore expect nominal GDP growth to accelerate to 10.9% YoY in Q1 (9.4% in FY17), providing policymakers more room to shift the focus towards reining in financial leverage and expanding the scope of the capacity reduction program. We believe the government will continue its tightening stance in monetary policy to slow the pace of credit expansion, with upside risks to PBoC benchmark one-year rates should global demand surprise on the upside or Fed rate hikes come faster than expected.

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Change in NAV

Chart – Base 100 (22/03/2017)
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

Performance R-EUR Cumulative performance Annualised performance
Since 01/01/2017 11.83 %  
1 Year 18.38 % 18.38 %
3 Year 35.83 % 10.73 %
5 year 48.51 % 8.23 %
Since inception 57.01 % 5.73 %
Performance R-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 11.83 % 18.38 % 35.83 % 48.51 % 57.01 %
Annualised performance 18.38 % 10.73 % 8.23 % 5.73 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class R-EUR16.31 %27.95 %8.77 %13.77 %0.87 %0.88 %-0.93 %-0.44 %1.60 %0.69 %
Benchmark17.51 %20.75 %
AlphaBeta
1 Year3 Year 1 Year3 Year
Share class R-EUR-0.03 %-0.55 %0.81 %1.19 %
Benchmark
Share class R-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 16.31 % 27.95 % 17.51 % 20.75 %
Tracking Error 8.77 % 13.77 %
Sharpe ratio 1.60 % 0.69 %
Alpha -0.03 % -0.55 %
Correlation coefficient 0.87 % 0.88 %
Information ratio -0.93 % -0.44 %
Beta 0.81 % 1.19 %

Fund information

Inception Date (Fund)
08/04/1998
Inception Date (Part)
17/02/2009
Legal form
SICAV
Benchmark
MSCI China (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1160365505
AuM (fund)
76 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
2,100 %
Current management fee
2.100 %
Subscription fee
3.00 % 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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