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EdR Fund Europe Flexible Flexible strategies

Flexible strategies
Change in NAV (24/04/2017)
147.84 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
147.84 EUR
Change in NAV (24/04/2017)
5
1234567
Risk and reward profile
> 3 years
Recommended holding period
Change in NAV (24/04/2017)
147.84 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 31/03/2017

As in the first months of the year, March was marked by political developments. While the Dutch election finally stemmed the wave of electoral ‘bad surprises', and lowered the perception of political risk in France, the difficulties facing President Trump in his attempt to repeal Obamacare have raised doubts over his political capacity to implement the projects announced since his inauguration. Looking at the data, European growth remains well-oriented and the season's corporate earnings reports have been leading to forecast upgrades in Europe. The ECB's more balanced remarks on growth and inflation have left bond markets under pressure. Accordingly, in the wake of a very uneven month, the European Stoxx 600 index closed up +2.9%. There was, as usual, strong disparity from one sector to the other, with banking in the lead in the ongoing sector rotation linked to expectations of rate hikes. Among the sectors on a downtrend, commodities has been cashing in its profits after more than six months on the rebound. It seems to us that while the micro and macroeconomic fundamentals are still providing real support, the political and geopolitical stakes risk weighing in somewhat on markets that have made good progress since the beginning of the year. We are therefore adopting a neutral position on equity risk.

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Change in NAV

Chart – Base 100 (24/04/2017)
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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 3.51 %  
1 Year 4.32 % 4.29 %
3 Year 9.75 % 3.15 %
5 year 28.69 % 5.17 %
Since inception 47.84 % 4.86 %
Performance A-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 3.51 % 4.32 % 9.75 % 28.69 % 47.84 %
Annualised performance 4.29 % 3.15 % 5.17 % 4.86 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class A-EUR8.04 %7.98 %3.19 %3.46 %0.93 %0.90 %-1.22 %-0.17 %1.46 %0.60 %
Benchmark6.43 %6.45 %
Max. monthly lossMax. monthly gainAlphaBeta
Since inceptionSince inception1 Year3 Year 1 Year3 Year
Share class A-EUR-11.76 %10.31 %-0.09 %-0.08 %1.16 %1.12 %
Benchmark
Share class A-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 8.04 % 7.98 % 6.43 % 6.45 %
Tracking Error 3.19 % 3.46 %
Sharpe ratio 1.46 % 0.60 %
Alpha -0.09 % -0.08 %
Correlation coefficient 0.93 % 0.90 %
Information ratio -1.22 % -0.17 %
Max. monthly loss -11.76 %
Max. monthly gain 10.31 %
Beta 1.16 % 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)
142 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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