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 Emerging Credit Emerging bonds

Emerging bonds
Change in NAV (18/04/2018)
103.02 EUR
Stéphane  MAYOR–LU1080015859–
Stéphane MAYOR
Marc LACRAZ–LU1080015859–
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
103.02 EUR
Change in NAV (18/04/2018)
4
1234567
Risk and reward profile
3 years
Recommended holding period
Change in NAV (18/04/2018)
103.02 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 29/03/2018

For the second month in a row, emerging corporate debt markets recorded a modest gain. March saw bond volatility in the United States, but with no particular trend emerging. And it nevertheless eased by around 10 bps over the period. The opposite seemed to be taking place on emerging bond yields. Yield differentials in the corporate segment widened by around 20 bps over the period. This movement reflects the more fragile sentiment visible on the market. In credit terms, high-yield issuers slightly underperformed their investment grade counterparts. All the regions, on the other hand, recorded slightly negative performances. Europe and Africa posted the worst regional performances over the period, dipping by about a half percentage point. Looking at the leading countries to which we are exposed, the Ukraine, which closed the month in positive territory, has withstood the general negative sentiment well. Brazil, Argentina and Nigeria, meanwhile, closed on a neutral performance, while Russia and Turkey experienced a decline of about half a percentage point. At the sector level, most segments closed the month in negative territory. Only the infrastructure sector stands out, with a gain of about one percent. EdR Emerging Credit's performance was slightly negative in USD terms, but once again outperformed the market. In general, the uncertain trend currently manifest in the USD yield curve is limiting market appreciation potential. Yet the Fund's performance has continued to be driven by its exposure to high-yield credit, particularly in Latin America and Ukraine, with both offering attractive valuations. Duration remains defensive at close to four years. But the external environment remains constructive, sustained by a positive trend in commodities, and with growth prospects offered by emerging economies. The outlook for profitable returns remains positive over the medium term.

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Change in NAV

Chart – Base 100 (18/04/2018)
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 B-EUR Cumulative Annualised
Since 01/01/2018

-1.55 %

-1.93 %

-1.55 %

-1.93 %

1 Year

2.80 %

1.08 %

2.80 %

1.08 %

3 Year

28.48 %

12.69 %

8.69 %

4.06 %

Since inception

17.27 %

14.85 %

4.33 %

3.75 %

Since 01/01/2018 1 Year 3 Year 5 year Since inception
Cumulative

Share class (B-EUR)

Benchmark

-1.55 %

-1.93 %

2.80 %

1.08 %

28.48 %

12.69 %

17.27 %

14.85 %

Annualised

Share class (B-EUR)

Benchmark

2.80 %

1.08 %

8.69 %

4.06 %

4.33 %

3.75 %

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
25/05/2009
Inception Date (Part)
15/07/2014
Legal form
SICAV
Benchmark
JPM CEMBI Broad Composite (Hedge EUR)
Currency (fund)
USD
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1080015859
AuM (fund)
441 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
1,000 %
Current management fee
1.000 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
1.00 % 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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