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 (23/05/2018)
97.34 EUR
Stéphane  MAYOR–LU1564424379–
Stéphane MAYOR
Marc LACRAZ–LU1564424379–
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
97.34 EUR
Change in NAV (23/05/2018)
4
1234567
Risk and reward profile
3 years
Recommended holding period
Change in NAV (23/05/2018)
97.34 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 30/04/2018

Emerging corporate credit markets posted a negative trend for a third month in a row. While volatility remained visible on US issues, the direction was still positive. They have accordingly tightened by around 20 bps over the period. A movement of similar scale was identified on emerging credit yields. Yield differentials on the corporate segment thus remained stable over the period, showing some resilience despite the less positive rate environment. In credit terms, high-yield bond issuers only slightly underperformed their investment grade counterparts. However, the Emerging regions all posted negative performances. Among the leading countries to which we are exposed, Brazil, Argentina and Nigeria held up better than the Ukraine and, in particular, Russia. The latter has been heavily impacted by the United States' new round of sanctions. The leading victim of these, the aluminium company, Rusal, dragged the whole market down in its wake. Nevertheless, after the initial fall, prices gradually appreciated throughout the second half of April. Easing tensions should help the price recovery to strengthen over the next few weeks. In sector terms, all segments closed the month in negative territory. While EdR Emerging Credit posted a negative performance, it once again outperformed the market. In general, the uncertain trend currently manifest in the USD yield curve is limiting market appreciation potential. Nonetheless, fund performance is still being supported by its exposure to high yield credit and more defensive duration, running at close to four years. Meanwhile, the external environment remains constructive, sustained by a positive trend in commodities, and the 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 (23/05/2018)
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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 KD-EUR Cumulative Annualised

Since inception

-2.66 %

-1.74 %

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

Share class (KD-EUR)

Benchmark

-2.66 %

-1.74 %

Annualised

Share class (KD-EUR)

Benchmark

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
25/05/2009
Inception Date (Part)
17/04/2018
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
500000.00 USD
ISIN Code
LU1564424379
AuM (fund)
415 M (USD)
Regulatory authority
CSSF
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild (Suisse) S.A.
Incorporation
Luxembourg
Maximum management fee
0,700 %
Current management fee
0.700 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value

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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