Edmond de Rothschild

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This site provides extensive information about the ranges of Edmond de Rothschild Group funds. In particular, it provides simplified access to key fund-related data (performance, net asset values, features) and their commercial or legal documents.

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EdR Fund Europe Synergy Europe equities

Europe equities
Change in NAV (17/01/2018)
119.77 EUR
Philippe  LECOQ–LU1161527384–
Philippe LECOQ
Olivier HUET–LU1161527384–
Olivier HUET
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
> 5 years
119.77 EUR
Change in NAV (17/01/2018)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (17/01/2018)
119.77 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Philippe LECOQ  
Olivier HUET  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The sub-fund aims to generate consistent outperformance over a complete business cycle through a selection of stocks potentially targeted in takeover deals, which are favoured by periods of growth, and restructuring stocks, which are at an advantage in periods of market decline. The added value lies in the fund manager's know-how in picking European stocks that are likely to be targeted in major events.

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Commentary 29/12/2017

European equity indices closed December on a neutral trend, tracking a low volatility regime in the wake of economic indicators that are continuing to perform well. The ECB has significantly raised its growth forecast for the euro zone from 2.2% to 2.4% for 2017 and from 1.8% to 2.3% in 2018. What's more, political developments have been in the headlines on both sides of the Atlantic (with voting on tax reform in the United States, and the hint an agreement on Brexit). Rate hikes have remained sluggish in the absence of signs of accelerating inflation, in both the United States and Europe. The euro, oil and metals (copper in particular) closed the year at their highest levels, which should have some impact on the operational leverage of European companies – though their results are still expected to rise +9% in 2018. December also saw some sector rotation with the technology sector underperforming, and in contrast, a sharp rise in the commodities sector, driven by price increases for oil, copper and iron. This thanks to the good performance of the world economy and the restrictive measures on mining production adopted in China. What's more, a flood of Investor Days organised by companies during December illustrates that most have now adopted a much more determined and outspoken tone on growth prospects, dynamised by new investment. This is in contrast to the last few years, which were busy with restructuring measures. In tandem with this renewed optimism, M&A transactions are now multiplying. Among them are Atos' offer, followed by Thales' counter-offer on Gemalto, Unibail's acquisition of a shopping mall portfolio in the United States and United Kingdom, for example. We have reduced our lines on Burberry, ADP, Croda, Sage Group and Rémy Cointreau, and initiated new positions on Société Générale and Commerzbank, raising our exposure to the banking sector to around 10% of the portfolio assets.

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Change in NAV

Chart – Base 100 (17/01/2018)
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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 O-EUR Cumulative Annualised
Since 01/01/2018

3.52 %

2.27 %

3.52 %

2.27 %

1 Year

11.88 %

12.44 %

11.88 %

12.44 %

Since inception

23.35 %

24.72 %

12.32 %

13.02 %

Since 01/01/2018 1 Year 3 Year 5 year Since inception
Cumulative

Share class (O-EUR)

Benchmark

3.52 %

2.27 %

11.88 %

12.44 %

23.35 %

24.72 %

Annualised

Share class (O-EUR)

Benchmark

11.88 %

12.44 %

12.32 %

13.02 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmark
1 Year*8.50 %7.57 %3.78 %0.89 %-0.56 %1.40 %
3 Year *
Max. drawdownAlphaBeta
Share class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmark
1 Year*-7.67 %-0.04 %1.00 %
3 Year *
Max. monthly gain Since inception
Max. monthly loss Since inception
Share class O-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 8.50 % 7.57 %
Tracking Error 3.78 %
Sharpe ratio 1.40 %
Alpha -0.04 %
Correlation coefficient 0.89 %
Information ratio -0.56 %
Max. drawdown -7.67 %
Beta 1.00 %

Fund information

Inception Date (Fund)
05/12/2006
Inception Date (Part)
29/03/2016
Legal form
SICAV
Benchmark
MSCI Europe (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
5000000.00 EUR
ISIN Code
LU1161527384
AuM (fund)
768 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
0,550 %
Current management fee
0.550 %
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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