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 (14/06/2018)
124.10 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
124.10 EUR
Change in NAV (14/06/2018)
4
1234567
Risk and reward profile
3 years
Recommended holding period
Change in NAV (14/06/2018)
124.10 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 31/05/2018

Emerging corporate credit markets maintained their negative trend for a fourth month in a row. Volatility was still in evidence on US issues, with a downtrend underway towards the month end. A reverse trend and increasing amplitude could be seen on emerging credit yields. Yield differentials in the corporate segment widened by around 30 bps over the period as a result. An impression of growing risk aversion was evident and strengthened by the US dollar's appreciation. In the credit segment, high-yield issuers increasingly tended to underperform their investment grade counterparts, with most regions posting negative performances. Only more defensive regions, such as Asia and the Middle East, have remained in just marginally positive territory. Looking at the leading countries to which we are exposed, in contrast to the previous month, it was the Ukraine and Russia that performed well with a positive performance of around 0.5%. Brazil experienced a sharper decline, hit by the truckers' strike which has severely disrupted food supplies across the country. The hesitation witnessed in Argentina in the conduct of monetary policy weakened its currency, and pressures started to build on the debt market. The market posted a significant decline of about -4.5%. In sector terms, all segments closed the month in negative territory, except infrastructure. EdR Emerging Credit posted a negative performance, below that of the market. In general, growing risk aversion is limiting the market's appreciation potential. Meanwhile, the external environment remains constructive, sustained by a positive trend on commodities, and growth prospects offered by emerging economies. Expectations of profitability remain positive over the medium term, with asset evaluation becoming increasingly more generous.

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Change in NAV

Chart – Base 100 (14/06/2018)
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
Since 01/01/2018

-5.45 %

-4.08 %

-5.45 %

-4.08 %

1 Year

-1.48 %

-2.28 %

-1.48 %

-2.28 %

3 Year

22.34 %

10.41 %

6.93 %

3.35 %

Since inception

24.10 %

12.88 %

6.30 %

3.49 %

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

Share class (I-EUR)

Benchmark

-5.45 %

-4.08 %

-1.48 %

-2.28 %

22.34 %

10.41 %

24.10 %

12.88 %

Annualised

Share class (I-EUR)

Benchmark

-1.48 %

-2.28 %

6.93 %

3.35 %

6.30 %

3.49 %

*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*3.00 %2.10 %1.42 %0.91 %0.85 %-0.58 %
3 Year *7.08 %4.33 %3.99 %0.86 %0.95 %0.81 %
Max. drawdownAlphaBeta
Share class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmark
1 Year*-4.71 %0.03 %1.29 %
3 Year *-8.47 %0.20 %1.41 %
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 3.00 % 7.08 % 2.10 % 4.33 %
Tracking Error 1.42 % 3.99 %
Sharpe ratio -0.58 % 0.81 %
Alpha 0.03 % 0.20 %
Correlation coefficient 0.91 % 0.86 %
Information ratio 0.85 % 0.95 %
Max. monthly loss -5.11 %
Max. monthly gain 5.72 %
Max. drawdown -4.71 % -8.47 %
Beta 1.29 % 1.41 %

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)
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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