Edmond de Rothschild

Welcome to our Fund Center

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.

Please enter your country and indicate which investor category you belong to:
Mobile Logo

EdR Fund China China equities

China equities
Change in NAV (15/11/2018)
158.22 EUR
Xiadong  BAO–LU1160366651–
Xiadong BAO
Patricia URBANO–LU1160366651–
Patricia URBANO
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
158.22 EUR
Change in NAV (15/11/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (15/11/2018)
158.22 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Xiadong BAO  
Patricia URBANO  
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.

View more View less

Commentary 30/06/2018

The macro data released during the month showed a sign of slight slowdown with Industrial Production+8.5% in May versus +9.4% in April, Retail sales +8.5% versus +9.5% previously. The deleveraging has taken its toll on the aggregate financing: 760.8bn yuan in May versus 1560bn in prior month. SMEs were the firsts to feel the pain of the tightening on the rising funding cost and mounting refinancing pressure. The PBoC lowered its required reserves ratio by 50bp to free up around RMB 500bn for debt to equity swaps and RMB 200bn for loans to SMEs. The central bank also adopted a more accommodating tone in its communique, replacing “appropriate and stable liquidity” with “appropriate and sufficient liquidity”. Market concerns are rising on the trade friction as the Chinese Yuan lost 3.28% during the month. But the CNY remains one of the strongest EM currencies since the beginning of the year (-1.75% versus USD). We believe that the currency has not been used voluntarily as a tool to counter the potential trade war risk and the central bank will intervene on the exchange rate if it breaches its current reasonable and balanced level. China has a longer term vision than western countries and is willing to make the Yuan an international reference currency. It is less probable for China to devaluate massively the yuan in order to keep its long term credibility. During the month, we have strengthened our exposure to the healthcare sectors by enforcing our positions in Wuxi Biologics at the expense of 3Sbio, adding Sino Biopharmaceuticals and Alihealth. We have also started to take profit in the tech names including TSMC and Baozun. We continue to keep a relative high cash position given the short-term uncertainties. The fundamentals for the Chinese market remains solid and the growth of Chinese economy is becoming more and more driven by innovation and domestic consumption

View more View less

Change in NAV

Chart – Base 100 (15/11/2018)
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 I-EUR Cumulative Annualised

-18.07 %

-10.07 %

5.56 %

6.33 %

11.44 %

9.50 %

Since inception

58.22 %

85.17 %

4.55 %

6.16 %

Since 01/01/2018 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (I-EUR)

Benchmark

58.22 %

85.17 %

Annualised

Share class (I-EUR)

Benchmark

-18.07 %

-10.07 %

5.56 %

6.33 %

11.44 %

9.50 %

4.55 %

6.16 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmark
1 Year*22.42 %22.17 %6.45 %0.96 %-0.72 %-0.69 %
3 Year *18.03 %15.60 %9.66 %0.85 %0.06 %0.35 %
Max. drawdownAlphaBeta
Share class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmark
1 Year*-29.77 %-0.11 %0.97 %
3 Year *-29.77 %0.09 %0.98 %
Max. monthly gain Since inception43.44 %
Max. monthly loss Since inception-30.04 %
Share class I-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 22.42 % 18.03 % 22.17 % 15.60 %
Tracking Error 6.45 % 9.66 %
Sharpe ratio -0.69 % 0.35 %
Alpha -0.11 % 0.09 %
Correlation coefficient 0.96 % 0.85 %
Information ratio -0.72 % 0.06 %
Max. monthly loss -30.04 %
Max. monthly gain 43.44 %
Max. drawdown -29.77 % -29.77 %
Beta 0.97 % 0.98 %

Fund information

Inception Date (Fund)
08/04/1998
Inception Date (Part)
30/07/2008
Legal form
SICAV
Benchmark
MSCI China (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1160366651
AuM (fund)
77 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
0,750 %
Current management fee
0.750 %
Performance fee
15,000 %

Fund documentation

Select all

(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.

Top