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EdR Fund Euro IG Corporate Bonds Corporate bonds

Corporate bonds
NAV (22/02/2017)
104.70 EUR
Mark  KOWALSKI–LU1080014530–
Mark KOWALSKI
Marc LACRAZ–LU1080014530–
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
> 2 years
104.70 EUR
NAV (22/02/2017)
3
1234567
Risk and reward profile
> 2 years
Recommended holding period
NAV (22/02/2017)
104.70 EUR
Risk and reward profile
1234567
Recommended holding period
> 2 years
Mark KOWALSKI  
Marc LACRAZ  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The goal of the EDR fund EUR IG Corporate Bonds is to outperform the Bank of America Merrill Lynch 1-10 Year Euro Corporate Index.

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Commentary 31/01/2017

January was a challenging month for European bond markets. Inflation numbers surprised on the upside, especially in Germany (but also in France,Italy,Spain). Economic numbers were better than expected. The German 10 year bund yield rose from 0.20% to 0.43%. Continuing political turbulence worried the market, as the Eurozone faces a busy political calendar in the coming months, and investors are increasingly uncomfortable with the rise in fortunes of several anti-euro parties. Peripheral spreads widened sharply in January, with 10 year Italian yields rising to 2.25%, 182bps spread to Bunds. France also joined the widening to bunds, as 10 yield France yields ended the month 60 bps higher than Germany. The ECB, as expected, made no changes during January to monetary policy. Corporate investment grade spreads were able to fight through the combination of rising yields and sovereign credit spreads, managing a small compression. This was also despite a very strong supply month for the asset class. Cyclicals and autos were the best performers.

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Change in NAV

Chart – Base 100 (22/02/2017)
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

Performance I-EUR Cumulative performance Annualised performance
Since 01/01/2017 0.17 %  
1 Year 3.56 % 3.55 %
Since inception 4.70 % 1.79 %
Performance I-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 0.17 % 3.56 % 4.70 %
Annualised performance 3.55 % 1.79 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year1 Year1 Year1 Year1 Year
Share class I-EUR2.03 %0.56 %0.96 %-0.62 %2.10 %
Benchmark1.82 %
AlphaBeta
1 Year1 Year
Share class I-EUR-0.01 %1.08 %
Benchmark
Share class I-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 2.03 % 1.82 %
Tracking Error 0.56 %
Sharpe ratio 2.10 %
Alpha -0.01 %
Correlation coefficient 0.96 %
Information ratio -0.62 %
Beta 1.08 %

Fund information

Inception Date (Fund)
24/05/2005
Inception Date (Part)
21/07/2014
Legal form
SICAV
Benchmark
BofA Merrill Lynch 1-10 Year Euro Corporate
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1080014530
AuM (fund)
178 M (EUR)
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
0,375 %
Current management fee
0.375 %
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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