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 Floating Rate Credit Corporate bonds

Corporate bonds
Change in NAV (18/06/2018)
9,595.71 EUR
Benjamine  NICKLAUS–LU1082946390–
Benjamine NICKLAUS
Léo ABELLARD–LU1082946390–
Léo ABELLARD
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
Between 12 and 24 months
9,595.71 EUR
Change in NAV (18/06/2018)
3
1234567
Risk and reward profile
Between 12 and 24 months
Recommended holding period
Change in NAV (18/06/2018)
9,595.71 EUR
Risk and reward profile
1234567
Recommended holding period
Between 12 and 24 months
Benjamine NICKLAUS  
Léo ABELLARD  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Sub-Fund's investment objective is to outperform its benchmark, net of management fees, over an investment horizon of one to two years, through a portfolio representing investment opportunities present on the short-term corporate credit markets.

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Commentary 31/05/2018

Sentiment has deteriorated and volatility has increased amid increasing trade tension, the government-building process in Italy and the meeting between the US and North Korea have also brought geopolitical concerns back to the center of attention. Above all Italian political jitters hit the market full-force after Italian President Mattarella vetoed the nomination of Eurosceptic Paolo Savona for finance minister on Sunday. This political crisis has triggered a large flight-to-quality move driving euro core rates to yearly lows and the comeback of the peripheral premia. Over the month, European credit markets have sharply repriced with €IG down -0.4%, €HY down -1.6% and Subordinated Financials leading the downward move (down between -0.5% and -4% over the month depending on subordination rank and sector). Credit spreads have widened significantly over the month, with €IG and €HY +14bps and +55bps wider while Insurance T2 and Banks T2 were +73bps and 69bps wider respectively.Over the month, the fund is down with main contributors being: -1.4% negative credit excess return performance and -0.6% interest rate hedging cost. In terms of sub-segment performances, the only positive total return performance concerns Investment Grade Corporates while Subordinated Financials and High Yield Corporates generated negative total return performances.We increased our exposure to short duration HY bonds finding attractive entry levels while we slightly reduced our exposure to Italy (by c. 1%). The fund's credit exposure is 95.8% with 17% of cash in the portfolio.

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Change in NAV

Chart – Base 100 (18/06/2018)
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 O-EUR Cumulative Annualised
Since 01/01/2018

-1.95 %

1.01 %

-1.95 %

1.01 %

1 Year

-1.48 %

1.25 %

-1.47 %

1.24 %

3 Year

1.67 %

3.35 %

0.55 %

1.10 %

5 year

5.13 %

5.33 %

1.01 %

1.04 %

Since inception

4.82 %

5.34 %

0.94 %

1.03 %

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

Share class (O-EUR)

Benchmark

-1.95 %

1.01 %

-1.48 %

1.25 %

1.67 %

3.35 %

5.13 %

5.33 %

4.82 %

5.34 %

Annualised

Share class (O-EUR)

Benchmark

-1.47 %

1.24 %

0.55 %

1.10 %

1.01 %

1.04 %

0.94 %

1.03 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmark
1 Year*1.58 %0.35 %1.62 %-1.82 %4.08 %
3 Year *1.99 %0.73 %1.70 %0.55 %-0.49 %1.78 %
Max. drawdownAlphaBeta
Share class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmark
1 Year*-3.08 %-0.04 %-0.02 %
3 Year *-3.08 %-0.11 %1.51 %
Max. monthly gain Since inception1.35 %
Max. monthly loss Since inception-1.78 %
Share class O-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 1.58 % 1.99 % 0.35 % 0.73 %
Tracking Error 1.62 % 1.70 %
Sharpe ratio 4.08 % 1.78 %
Alpha -0.04 % -0.11 %
Correlation coefficient 0.55 %
Information ratio -1.82 % -0.49 %
Max. monthly loss -1.78 %
Max. monthly gain 1.35 %
Max. drawdown -3.08 % -3.08 %
Beta -0.02 % 1.51 %

Fund information

Inception Date (Fund)
07/01/1999
Inception Date (Part)
31/05/2013
Legal form
SICAV
Benchmark
EURIBOR EUR 3M
250BP
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
10000000.00 EUR
ISIN Code
LU1082946390
AuM (fund)
220 M (EUR)
Regulatory authority
CSSF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Incorporation
Luxembourg
Maximum management fee
0,200 %
Current management fee
0.200 %
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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