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 (16/02/2018)
159.59 USD
Stéphane  MAYOR–LU1080015933–
Stéphane MAYOR
Marc LACRAZ–LU1080015933–
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
159.59 USD
Change in NAV (16/02/2018)
4
1234567
Risk and reward profile
3 years
Recommended holding period
Change in NAV (16/02/2018)
159.59 USD
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 31/01/2018

Emerging corporate bond markets experienced a relatively lack-lustre month while rates rose in the United States. The latter gained more than 30 bps over the period, a more pronounced increase than that seen on emerging bonds. Yield spreads on the corporate bond segment have accordingly narrowed over the period. The ongoing positive trend in the commodities market, supported by certain industrial metals and energy (with Brent crude hitting $70/bbl at the month end), worked to support the market. On the credit market, high yield issuers closed the month in positive territory in contrast to their investment grade counterparts. The regions, meanwhile, posted modestly positive performances, except in the Asia region. Latin America and Africa recorded the best regional performances over the period. Among the principal countries to which we are exposed, the Ukraine kept up its positive trend in recent months to post a gain of +1.5%. The period was also positive for Brazil (+1.2%) and neutral for Russia. What's more, Turkey closed the month on a positive note, as did Nigeria. Argentina, for its part, dipped -0.5% over the period. At the sector level, the industrial and Mines & Metals segments performed best. The Oil & Gas sector remained neutral in January after several months of good performance. EdR Emerging Credit posted yet another positive month and outperformed the market over the period. In general, the rise in the yield curve on the US dollar are limiting the market's appreciation potential. Nonetheless, fund performance is still being supported by its exposure to high yield credit, as well as to Latin America and the Ukraine. Duration has remained defensive at slightly under four years while the external environment is still constructive, sustained by the positive trend in commodities and the growth prospects offered by the emerging economies. The outlook for profitable returns remains positive over the medium term.

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Change in NAV

Chart – Base 100 (16/02/2018)
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-USD Cumulative Annualised
Since 01/01/2018

-0.89 %

-0.96 %

-0.89 %

-0.96 %

1 Year

6.59 %

4.62 %

6.59 %

4.62 %

3 Year

44.81 %

18.74 %

13.12 %

5.89 %

5 year

32.16 %

23.15 %

5.73 %

4.25 %

Since inception

59.40 %

47.30 %

6.48 %

5.35 %

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

Share class (I-USD)

Benchmark

-0.89 %

-0.96 %

6.59 %

4.62 %

44.81 %

18.74 %

32.16 %

23.15 %

59.40 %

47.30 %

Annualised

Share class (I-USD)

Benchmark

6.59 %

4.62 %

13.12 %

5.89 %

5.73 %

4.25 %

6.48 %

5.35 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class I-USDBenchmarkShare class I-USDBenchmarkShare class I-USDBenchmarkShare class I-USDBenchmarkShare class I-USDBenchmark
1 Year*2.58 %1.73 %1.74 %0.74 %1.42 %3.03 %
3 Year *7.44 %4.21 %4.40 %0.85 %1.87 %1.41 %
Max. drawdownAlphaBeta
Share class I-USDBenchmarkShare class I-USDBenchmarkShare class I-USDBenchmark
1 Year*-1.33 %0.03 %1.10 %
3 Year *-8.50 %0.37 %1.51 %
Max. monthly gain Since inception5.70 %
Max. monthly loss Since inception-6.40 %
Share class I-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 2.58 % 7.44 % 1.73 % 4.21 %
Tracking Error 1.74 % 4.40 %
Sharpe ratio 3.03 % 1.41 %
Alpha 0.03 % 0.37 %
Correlation coefficient 0.74 % 0.85 %
Information ratio 1.42 % 1.87 %
Max. monthly loss -6.40 %
Max. monthly gain 5.70 %
Max. drawdown -1.33 % -8.50 %
Beta 1.10 % 1.51 %

Fund information

Inception Date (Fund)
25/05/2009
Inception Date (Part)
16/09/2010
Legal form
SICAV
Benchmark
JP Morgan CEMBI Broad
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 USD
ISIN Code
LU1080015933
AuM (fund)
402 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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