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 Value & Yield Europe equities

Europe equities
Change in NAV (17/01/2018)
135.50 USD
Philippe  LECOQ–LU1103285679–
Philippe LECOQ
Anthony PENEL–LU1103285679–
Anthony PENEL
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
135.50 USD
Change in NAV (17/01/2018)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (17/01/2018)
135.50 USD
Risk and reward profile
1234567
Recommended holding period
> 5 years
Philippe LECOQ  
Anthony PENEL  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

EdR Europe Value & Yield is invested in European large capitalisations. Along with an active cash management, the sub-fund selects high quality undervalued stocks and/or the ones able to deliver an above average return. Defensive stocks and cash represent at least 50% of the portfolio while financial and cyclical stocks cannot exceed 50%.

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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, and Unibail's acquisition of a shopping mall portfolio in the United States and United Kingdom, for example. During the month we reduced our positions on Munich Re, Accor, SNAM and Terna. Meanwhile, we have sold our line in Svenska Cellulosa and iniitated positions on Enel and ABN Amro.

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Change in NAV

Chart – Base 100 (17/01/2018)
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 R-USD Cumulative Annualised
Since 01/01/2018

5.37 %

4.26 %

5.37 %

4.26 %

1 Year

23.56 %

28.72 %

23.56 %

28.72 %

3 Year

20.00 %

29.50 %

6.25 %

8.98 %

5 year

26.43 %

42.81 %

4.80 %

7.38 %

Since inception

35.50 %

44.83 %

4.77 %

5.85 %

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

Share class (R-USD)

Benchmark

5.37 %

4.26 %

23.56 %

28.72 %

20.00 %

29.50 %

26.43 %

42.81 %

35.50 %

44.83 %

Annualised

Share class (R-USD)

Benchmark

23.56 %

28.72 %

6.25 %

8.98 %

4.80 %

7.38 %

4.77 %

5.85 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class R-USDBenchmarkShare class R-USDBenchmarkShare class R-USDBenchmarkShare class R-USDBenchmarkShare class R-USDBenchmark
1 Year*8.89 %8.25 %3.39 %0.92 %-2.01 %2.98 %
3 Year *11.81 %12.56 %4.02 %0.95 %-0.67 %0.49 %
Max. drawdownAlphaBeta
Share class R-USDBenchmarkShare class R-USDBenchmarkShare class R-USDBenchmark
1 Year*-3.50 %-0.10 %1.00 %
3 Year *-22.60 %-0.16 %0.89 %
Max. monthly gain Since inception15.08 %
Max. monthly loss Since inception-14.78 %
Share class R-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 8.89 % 11.81 % 8.25 % 12.56 %
Tracking Error 3.39 % 4.02 %
Sharpe ratio 2.98 % 0.49 %
Alpha -0.10 % -0.16 %
Correlation coefficient 0.92 % 0.95 %
Information ratio -2.01 % -0.67 %
Max. monthly loss -14.78 %
Max. monthly gain 15.08 %
Max. drawdown -3.50 % -22.60 %
Beta 1.00 % 0.89 %

Fund information

Inception Date (Fund)
02/09/1999
Inception Date (Part)
15/07/2011
Legal form
SICAV
Benchmark
MSCI Europe (NR)
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1103285679
AuM (fund)
396 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
2,100 %
Current management fee
2.100 %
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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