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EdR Fund Emerging Corporate Bonds Emerging bonds

Emerging bonds
Change in NAV (17/08/2017)
128.01 EUR
Stéphane  MAYOR–LU1080016071–
Stéphane MAYOR
Marc LACRAZ–LU1080016071–
Marc LACRAZ
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
128.01 EUR
Change in NAV (17/08/2017)
4
1234567
Risk and reward profile
3 years
Recommended holding period
Change in NAV (17/08/2017)
128.01 EUR
Risk and reward profile
1234567
Recommended holding period
3 years
Stéphane MAYOR  
Marc LACRAZ  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

Investment objective: The objective of the Sub-Fund is to achieve long-term optimum growth of the invested capital via investments in regulated capital and money markets. In particular, the Sub-Fund aims to outperform the JP Morgan CEMBI Broad Index.

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Commentary 31/07/2017

Emerging corporate bond markets were back on an uptrend in July, after flat-lining for two months. While US interest rates remained stable over the period, yields on emerging debt eased slightly. The result was a modest reduction in yield spreads within the corporate segment. The recovery in oil prices at the month end contributed to the positive sentiment evident in the markets. On the credit side, high yield issuers outperformed their investment grade counterparts. The regions, meanwhile, put in positive performances ranging from 0.5% to 1.5%. Latin America remains the top regional player both since the beginning of the month, and of the year, with performance exceeding 8%. Asia, however, was lagging behind. Among the main countries to which we are exposed, performance in the Ukraine, climbing more than 3.5% over the month, and Brazil, up by over 2.5%, has continued to outperform. In addition, Nigeria and Turkey posted growth of around 1% during the month At the sector level, it was once again the commodities and consumer segments that performed best. Accordingly, EdR EM Corporate Bond recorded yet another positive month with performance up more than 1%, exceeding that of the market. The gains made in USD have topped 7% since the beginning of the year, a performance that beats the market. Overall, the fund's performance is still being supported by its exposure to high yield credit, as well as to Latin America and the Ukraine. Duration has remained slightly defensive at nearly four years while the external environment is still constructive and confidence is solid. Growth is making positive progress and capital flows remain bullish. The prospects for profitable returns over a medium-term horizon remain attractive.

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Change in NAV

Chart – Base 100 (17/08/2017)
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 I-EUR Cumulative Annualised
Since 01/01/2017

7.36 %

5.99 %

7.36 %

5.99 %

1 Year

13.38 %

5.06 %

13.38 %

5.06 %

Since inception

28.01 %

16.61 %

9.54 %

5.83 %

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

Share class (I-EUR)

Benchmark

7.36 %

5.99 %

13.38 %

5.06 %

28.01 %

16.61 %

Annualised

Share class (I-EUR)

Benchmark

13.38 %

5.06 %

9.54 %

5.83 %

*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*3.69 %2.67 %2.52 %0.73 %3.45 %2.30 %
3 Year *
Max. drawdownAlphaBeta
Share class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmark
1 Year*-2.40 %0.15 %1.01 %
3 Year *
Max. monthly gain Since inception5.72 %
Max. monthly loss Since inception-5.11 %
Share class I-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 3.69 % 2.67 %
Tracking Error 2.52 %
Sharpe ratio 2.30 %
Alpha 0.15 %
Correlation coefficient 0.73 %
Information ratio 3.45 %
Max. monthly loss -5.11 %
Max. monthly gain 5.72 %
Max. drawdown -2.40 %
Beta 1.01 %

Fund information

Inception Date (Fund)
25/05/2009
Inception Date (Part)
02/12/2014
Legal form
SICAV
Benchmark
JPM CEMBI Broad Composite (Hedge EUR)
Currency (fund)
USD
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1080016071
AuM (fund)
320 M (USD)
Regulatory authority
CSSF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild (Suisse) S.A.
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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