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 Euro High Yield Corporate bonds

Corporate bonds
Change in NAV (04/12/2018)
102.14 EUR
Alexis  FORET–LU1276000582–
Alexis FORET
Léo ABELLARD–LU1276000582–
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
2 years
102.14 EUR
Change in NAV (04/12/2018)
3
1234567
Risk and reward profile
2 years
Recommended holding period
Change in NAV (04/12/2018)
102.14 EUR
Risk and reward profile
1234567
Recommended holding period
2 years
Alexis FORET  
Léo ABELLARD  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The objective is to outperform its benchmark over the minimum recommended investment period. In order to achieve this objective, additional return will be sought for the bond portfolio through active management of interest rate risk and credit risk.

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Commentary 31/10/2018

Investors' concerns regarding economic growth increased in October on fears that global growth may slow due to trade tension and impacts of emerging markets. The IMF lowered its economic forecast and warned that growth in some of the biggest economies may have already peaked. The Italian risk continued to weight on the market with a one notch downgrade by Moody's for the sovereign rating which remains investment grade. In this context, European High Yield spreads widened by 52 basis points versus government bonds and thus posted a -0.97% loss over the month. Naturally, in this risk aversion move, lower rated bonds sharply underperformed BB's. All sectors had a negative performance excepted Media which posted a 0.3% of total return.On the primary market Warner Music Group (B1/B3) issued €250 million of a 8 years maturity bond with a 3.625% coupon, El Corte Inglès (Ba1/BB) issued a 6 years bonds with a coupon of 3% for an amount of €600 million, Playtech (B2) issued € 530 million of a 5 years bond with a 3% coupon, Rossini (B2/B) issued €1.3 billion through one 6.75% coupon tranche and one variable coupon tranche. Netflix (BB-) issued €1.1 billion and $800 million with respective coupons of 4.625% and 6.375% over a maturity of 11 years.

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Change in NAV

Chart – Base 100 (04/12/2018)
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 C-EUR Cumulative Annualised

-4.88 %

-2.68 %

Since inception

2.14 %

5.28 %

0.96 %

2.35 %

Since 01/01/2018 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (C-EUR)

Benchmark

2.14 %

5.28 %

Annualised

Share class (C-EUR)

Benchmark

-4.88 %

-2.68 %

0.96 %

2.35 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class C-EURBenchmarkShare class C-EURBenchmarkShare class C-EURBenchmarkShare class C-EURBenchmarkShare class C-EURBenchmark
1 Year*3.25 %2.92 %0.68 %0.98 %-3.05 %-0.81 %
3 Year *
Max. drawdownAlphaBeta
Share class C-EURBenchmarkShare class C-EURBenchmarkShare class C-EURBenchmark
1 Year*-5.17 %-0.04 %1.09 %
3 Year *
Max. monthly gain Since inception1.81 %
Max. monthly loss Since inception-2.59 %
Share class C-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 3.25 % 2.92 %
Tracking Error 0.68 %
Sharpe ratio -0.81 %
Alpha -0.04 %
Correlation coefficient 0.98 %
Information ratio -3.05 %
Max. monthly loss -2.59 %
Max. monthly gain 1.81 %
Max. drawdown -5.17 %
Beta 1.09 %

Fund information

Inception Date (Fund)
14/02/1997
Inception Date (Part)
15/09/2016
Legal form
SICAV
Benchmark
ICE BofAML BB-B Euro Non-Financial H-Y Constrained
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1276000582
AuM (fund)
209 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
0,550 %
Current management fee
0.550 %
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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