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EdR Fund Europe Flexible Flexible strategies

Flexible strategies
NAV (22/02/2017)
145.50 EUR
Michael  NIZARD–LU1160352602–
Michael NIZARD
Philippe LECOQ–LU1160352602–
Philippe LECOQ
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
> 3 years
145.50 EUR
NAV (22/02/2017)
5
1234567
Risk and reward profile
> 3 years
Recommended holding period
NAV (22/02/2017)
145.50 EUR
Risk and reward profile
1234567
Recommended holding period
> 3 years
Michael NIZARD  
Philippe LECOQ  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

This Sub- Fund combines active stock selection on European equity markets with controlled exposure to equity risk of between 0% and 100% of the net assets through hedging strategies in order to gain from the markets' rise, while being protected against periods of downturn.

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Commentary 31/01/2017

While economic conditions are evidently still dynamic at present, the markets seem to be slowing down, and showing signs of a pause in reflation, which kicked in just over six months ago. The activity indices show improving morale both for business and consumers. It remains to be seen whether this enthusiasm will translate into concrete actions, in which case SME activity can be expected to accelerate soon. In Europe, the figure for German growth in 2016 has made quite an impression. At 1.9%, it slightly exceeded expectations and reached a five-year high. This continued improvement in activity indicators has not, however, stopped global indices from stabilising or even a slight correction being made to European and Japanese equities. This consolidation is also a result of market positioning, where everything has moved so fast in recent months, shifting as quickly as the upgrades in macroeconomic forecasts. So far, equity markets have been resilient in comparison with other market tends. In an environment characterised by improving economic data, we remain confident in equity potential with a baseline scenario that puts equity on an uptrend mainly by EPS. So looking ahead this year we are no longer counting on valuation multiples to climb. They have already appreciated strongly in the last few years and have mostly been the main driver of performance in the European equity markets.

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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 A-EUR Cumulative performance Annualised performance
Since 01/01/2017 1.87 %  
1 Year 5.92 % 5.90 %
3 Year 9.01 % 2.91 %
5 year 23.74 % 4.35 %
Since inception 45.50 % 4.76 %
Performance A-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 1.87 % 5.92 % 9.01 % 23.74 % 45.50 %
Annualised performance 5.90 % 2.91 % 4.35 % 4.76 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class A-EUR10.14 %7.99 %4.09 %3.41 %0.94 %0.91 %-0.45 %-0.09 %1.04 %0.54 %
Benchmark7.35 %6.50 %
AlphaBeta
1 Year3 Year 1 Year3 Year
Share class A-EUR-0.07 %-0.05 %1.30 %1.12 %
Benchmark
Share class A-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 10.14 % 7.99 % 7.35 % 6.50 %
Tracking Error 4.09 % 3.41 %
Sharpe ratio 1.04 % 0.54 %
Alpha -0.07 % -0.05 %
Correlation coefficient 0.94 % 0.91 %
Information ratio -0.45 % -0.09 %
Beta 1.30 % 1.12 %

Fund information

Inception Date (Fund)
30/01/2009
Inception Date (Part)
30/01/2009
Legal form
SICAV
Benchmark
50% EONIA Capitalise (EUR)
50% MSCI Europe (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1160352602
AuM (fund)
149 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
1,700 %
Current management fee
1.700 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % 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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