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 Convexity Convertible bonds

Convertible bonds
Change in NAV (19/09/2018)
119.93 EUR
Kris  DEBLANDER–LU1160368947–
Kris DEBLANDER
Alina EPIFANTSEVA–LU1160368947–
Alina EPIFANTSEVA
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
119.93 EUR
Change in NAV (19/09/2018)
3
1234567
Risk and reward profile
> 3 years
Recommended holding period
Change in NAV (19/09/2018)
119.93 EUR
Risk and reward profile
1234567
Recommended holding period
> 3 years
Kris DEBLANDER  
Alina EPIFANTSEVA  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Sub-Fund's investment objective is to optimise the risk/return ratio over the recommended investment period by selecting for at least 60% of its net assets, convertible or exchangeable bonds, corporate bonds and stock options, and by diversifying its sources of return: underlying, sector, coupon, issuer, rate, via a systematic analysis of the different exposures.

View more View less

Commentary 31/08/2018

August saw a return of volatility (VIX rose by +10.48% over the month), especially in emerging markets. Turkey was the starting point with the threat from the United States to increase tariffs on Turkish steel and aluminum imports. The fall in the Turkish lira had contagion effects on weak currencies such as the South African Rand, the Argentine Peso, and even more generally on South America but also on banking stocks in the Euro Zone that have exposure to Turkey. In a flight to quality German and US rated declined by 10 bps and peripheral country spreads widened, led by Italy on speculation over its budget and a likely conflict with Brussels in September. In this context European equities underperformed with Eurostoxx 600 finishing August in red at -2.39%, S&P 500 and Nikkei outperformed at +3.03% and +1.38% over the month respectively. Regarding leading indicators, PMIs were slightly below expectations overall, the levels remain very high at over 54 on both sides of the Atlantic. Finally, we should also note the end of the publication season with 72.1% of companies beating expectations for revenues and 84.2% for earnings in the US and 60.7% and 51.7% respectively for European companies. On the primary side we saw 4.6 bn USD of new issues across 15 deals. We have participated in the primary issues of Illumina, Mercado Libre, SBI Holdings. We took profits on high delta names like Yue Xiu 2019 in China and Nuvasive 2021 in the US. In semiconductors we have increased position in STM 2022 and added a position in Microchip 2027 after the selloff post results. We added short term convex high gamma names Gedeon Richeter 2019 and Kunlun Energy 2019. On the options side we have restriked lower Deutsche Post calls and came back to Saint Gobain calls as we find equity valuation quite attractive.

View more View less

Change in NAV

Chart – Base 100 (19/09/2018)
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 S-EUR Cumulative Annualised

-1.99 %

1.61 %

2.40 %

Since inception

19.93 %

3.18 %

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

Share class (S-EUR)

Benchmark

19.93 %

Annualised

Share class (S-EUR)

Benchmark

-1.99 %

1.61 %

2.40 %

3.18 %

*Rolling periods

Annual performance



Statistics

VolatilityMax. drawdown
Share class S-EURBenchmarkShare class S-EURBenchmark
1 Year*4.22 %-3.81 %
3 Year *3.78 %-5.95 %
Max. monthly gain Since inception3.07 %
Max. monthly loss Since inception-3.27 %
Share class S-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 4.22 % 3.78 %
Tracking Error
Max. monthly loss -3.27 %
Max. monthly gain 3.07 %
Max. drawdown -3.81 % -5.95 %

Fund information

Inception Date (Fund)
27/11/2012
Inception Date (Part)
27/11/2012
Legal form
SICAV
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
10000000.00 EUR
ISIN Code
LU1160368947
AuM (fund)
121 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
0,300 %
Current management fee
0.300 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
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