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EdR Fund Euro IG Corporate Bonds Corporate bonds

Corporate bonds
Change in NAV (22/03/2017)
101.94 GBP
Mark  KOWALSKI–LU1080014969–
Mark KOWALSKI
Marc LACRAZ–LU1080014969–
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
101.94 GBP
Change in NAV (22/03/2017)
3
1234567
Risk and reward profile
> 2 years
Recommended holding period
Change in NAV (22/03/2017)
101.94 GBP
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 28/02/2017

February was a positive month for European bond markets with corporate credit spreads in Europe tightening around 6bps. That said, European corporate credit markets underperformed their US counterparts. Indeed US corporate credit spreads ended the month tighter than in Europe for the first time since the European sovereign debt crisis, despite the ECB's ongoing corporate QE program. This underperformance is partly due to rising political risk ahead of the French and Dutch elections. In this context of risk-off sentiment, the German 10 year sovereign yield fell sharply from 0.5% to 0.21%. Meanwhile, the spread between German and French government yields peaked at 80bps before retreating somewhat to end the month +16bps wider at 66bps. In the European periphery, Spain was the clear underperformer while Portuguese, Italian and Greek sovereign yields ended the month significantly lower. Across sectors, banks, utilities and transportation lagged while the best performers included industrials, auto and energy sectors.

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Change in NAV

Chart – Base 100 (22/03/2017)
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 B-GBP Cumulative performance Annualised performance
Since 01/01/2017 -0.01 %  
1 Year 2.70 % 2.70 %
Since inception 4.72 % 1.74 %
Performance B-GBP Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance -0.01 % 2.70 % 4.72 %
Annualised performance 2.70 % 1.74 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year1 Year1 Year1 Year1 Year
Share class B-GBP2.02 %0.67 %0.95 %0.61 %2.04 %
Benchmark1.77 %
Beta
1 Year
Share class B-GBP1.08 %
Benchmark
Share class B-GBP
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 2.02 % 1.77 %
Tracking Error 0.67 %
Sharpe ratio 2.04 %
Correlation coefficient 0.95 %
Information ratio 0.61 %
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)
GBP
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1080014969
AuM (fund)
168 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
0,750 %
Current management fee
0.750 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % max

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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