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 (16/08/2018)
94.19 CHF
Stéphane  MAYOR–LU1790342049–
Stéphane MAYOR
Marc LACRAZ–LU1790342049–
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
94.19 CHF
Change in NAV (16/08/2018)
4
1234567
Risk and reward profile
3 years
Recommended holding period
Change in NAV (16/08/2018)
94.19 CHF
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 31/07/2018

Emerging corporate credit markets have finally been gaining ground again, after five months in the red. The recent risk aversion began to ease off with US bonds dropping in volatility and the dollar index stabilising over the period. Yields on emerging corporate bonds also eased, as did yield spreads. On the credit side, high yield issuers outperformed their investment grade counterparts, a development taking place widely in an environment that is risk positive. The regions have posted positive performances, too. Latin America and Africa stand out with figures close to 2.5%. In the leading economies to which we are exposed, Brazil and the Ukraine have distinguished themselves with positive performances of around 3.5% and 3%, respectively, ahead of Nigeria and Argentina, which gained about 2.5%. Russia was also up, in the region of 1%. Meanwhile, Turkey remains behind and still in negative territory, but its situation seems to be stabilising on the domestic front. Note that we initiated an allocation on Indonesia after the market suffered a sharp drop during an episode of volatility on the corporate and currency markets over the last few months. In sector terms, all segments closed the month in positive territory. Given this environment, EdR Emerging Credit posted a good positive performance of more than 2%, which is about one point higher than the market itself. In general, a return to greater risk tolerance, combined with more generous valuation levels, promises attractive returns over a medium-term horizon.

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Fund information

Inception Date (Fund)
25/05/2009
Inception Date (Part)
03/04/2018
Legal form
SICAV
Benchmark
JPM CEMBI Broad Composite (Hedge CHF)
Currency (fund)
USD
Currency (share class)
CHF
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1790342049
AuM (fund)
392 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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