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 Equity Euro Core Europe equities

Europe equities
Change in NAV (16/01/2019)
83.78 USD
Marc  HALPERIN–LU1730857023–
Anthony PENEL–LU1730857023–
Anthony PENEL
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
Recommended holding period
> 5 years
83.78 USD
Change in NAV (16/01/2019)
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (16/01/2019)
83.78 USD
Risk and reward profile
Recommended holding period
> 5 years
Anthony PENEL  
The identity of the managers presented in this document may change during the life of the product.

Investment objective

The Sub-Fund's objective is to seek performance through exposure to equity markets, primarily in the Eurozone, by selecting securities on a discretionary basis in an investment scope comparable to the MSCI EMU Index, net dividend reinvested.

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Commentary 31/07/2018

July was a little easier on the trade war front, especially between Europe and the United States. This development was welcomed by narrowing credit-spreads in a climate of modestly rising rates, and climbing European equity indices. Recently published corporate reports have confirmed the growth expected at the start of the year, at nearly 10%, without, however, showing any strong trends. While the currency effect is expected to be less punishing at current levels in the second half, markets are putting a high premium on the risk of a turnaround in the economic cycle. Such risk is being heightened by persistent uncertainty, fuelled by destabilising rhetoric from the US Administration. As a result, all business models premised on medium-term improvement (especially when based on restructuring plans) have been shunned in favour of good quality reports and those still looking good over the short term. After recently reducing it, the position on Intesa Sanpaolo was closed given a specific risk arising from instability in Italy. Nevertheless, we maintained our financial sector weighting by strengthening our strongest convictions — AXA, ING, Crédit Agricole, ABN Amro. Also increased was our oil services exposure (TechnipFMC), which should benefit from the recovery of investment spending in a climate of high oil prices, while reducing on integrated oil companies (Royal Dutch Shell, ENI). Meanwhile, we have cashed in some of our profits on mid-caps (Edenred, Wirecard, Just Eat) in the wake of the significant rebound they posted over the month.

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Fund information

Inception Date (Fund)
Inception Date (Part)
Legal form
Currency (fund)
Currency (share class)
Distribution Policy
Valuation frequency
Minimum initial investment
1 Share
AuM (fund)
525 M (EUR)
Regulatory authority
EU Regulation
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Maximum management fee
2,100 %
Current management fee
2.100 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % 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.