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EdR Fund Euro IG Corporate Bonds Corporate bonds

Corporate bonds
Change in NAV (18/10/2017)
100.79 EUR
Mark  KOWALSKI–LU1080015008–
Mark KOWALSKI
Marc LACRAZ–LU1080015008–
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
100.79 EUR
Change in NAV (18/10/2017)
3
1234567
Risk and reward profile
> 2 years
Recommended holding period
Change in NAV (18/10/2017)
100.79 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 29/09/2017

September saw some weakness in high grade EUR denominated bonds. This was a function of rising yields in benchmark bonds, as the yield on the 10 year bund rose 10 bps, from 0.35 to 0.45 over the month. The ECB did not communicate on the future of the QE program during the September 7th meeting, but the market expects clarification at the late October meeting. Eurozone inflation numbers were slightly lower than expected in September, coming in at 1.5% for the CPI and 1.1% for the core. Confidence numbers were strong however. The climb in German yields was largely led by the worldwide rise in yields due to the somewhat hawkish Fed meeting, where the Fed reaffirmed its rate guidance for December and 2018 regardless of the low inflation numbers, as well as announced the beginning of the balance sheet normalization process. Details of the administration's tax plan also emerged, and investors raised their probabilities of a plan eventually becoming law. Euro investment grade spreads fell during the month, with all index sectors seeing at least some compression. This allowed the corporate investment grade market to outperform the sovereign benchmarks during a this relatively difficult month for high grade bonds.

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Change in NAV

Chart – Base 100 (18/10/2017)
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 B-EUR Cumulative Annualised
Since 01/01/2017

1.88 %

2.26 %

1.88 %

2.26 %

1 Year

0.87 %

1.66 %

0.87 %

1.66 %

3 Year

4.39 %

7.78 %

1.44 %

2.52 %

Since inception

5.42 %

9.18 %

1.64 %

2.74 %

Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

Share class (B-EUR)

Benchmark

1.88 %

2.26 %

0.87 %

1.66 %

4.39 %

7.78 %

5.42 %

9.18 %

Annualised

Share class (B-EUR)

Benchmark

0.87 %

1.66 %

1.44 %

2.52 %

1.64 %

2.74 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class B-EURBenchmarkShare class B-EURBenchmarkShare class B-EURBenchmarkShare class B-EURBenchmarkShare class B-EURBenchmark
1 Year*1.79 %1.90 %0.50 %0.97 %-1.39 %0.65 %
3 Year *2.53 %2.27 %0.57 %0.98 %-1.98 %1.14 %
Max. drawdownAlphaBeta
Share class B-EURBenchmarkShare class B-EURBenchmarkShare class B-EURBenchmark
1 Year*-2.00 %-0.01 %0.91 %
3 Year *-4.21 %-0.11 %1.09 %
Max. monthly gain Since inception1.44 %
Max. monthly loss Since inception-1.71 %
Share class B-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 1.79 % 2.53 % 1.90 % 2.27 %
Tracking Error 0.50 % 0.57 %
Sharpe ratio 0.65 % 1.14 %
Alpha -0.01 % -0.11 %
Correlation coefficient 0.97 % 0.98 %
Information ratio -1.39 % -1.98 %
Max. monthly loss -1.71 %
Max. monthly gain 1.44 %
Max. drawdown -2.00 % -4.21 %
Beta 0.91 % 1.09 %

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
Distribution
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1080015008
AuM (fund)
163 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
1.00 % 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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