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EdR Fund Europe Value & Yield Europe equities

Europe equities
Change in NAV (22/09/2017)
116.03 EUR
Philippe  LECOQ–LU1161528275–
Philippe LECOQ
Anthony PENEL–LU1161528275–
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
116.03 EUR
Change in NAV (22/09/2017)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (22/09/2017)
116.03 EUR
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 31/08/2017

European equity markets posted a somewhat roller-coaster performance over the month to close slightly down. They were impacted by the euro's rise, an increasingly complicated US political environment, as well as growing geopolitical fears rekindled by North Korea firing off a missile. Meanwhile, business indicators remained at high levels, with the manufacturing PMI at 57.4. Apart from Italy, where Silvio Berlusconi's comments disrupted the market, European interest rates fell sharply during the month, contributing to the underperformance of the financial sectors and outperformance of so-called bond proxies. The utilities sector (+3.9%) posted the best performance, driven by strong earnings and rising energy prices. The raw materials sector (+3%) benefited from the rebound in commodities. Meanwhile, the media sector (-5.6%) suffered from a poorer outlook in the TV and advertising segment, in particular with a reduction in spending by Home and Personal Care (HPC) players, while the distribution sector came under strong pressure in the wake of profit warnings regarding Carrefour and Dixons, and price cuts announced in the United States. In terms of M&A, there were rumours of Chinese players in the market for Chrysler (FCA +24.4%), the acquisition of Worldpay by Vantiv, a buyout of Maersk Oil by Total (+1.5%) for $7.5 billion and CRH's sale of its US distribution subsidiary, leaving CRH -0.8%. During the month we strengthened our position on Salvatore Ferragamo, while reducing Metro Wholesale & Food and Wartsila Corporation.

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Change in NAV

Chart – Base 100 (22/09/2017)
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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 O-EUR Cumulative Annualised
Since 01/01/2017

7.01 %

8.13 %

7.01 %

8.13 %

1 Year

11.41 %

13.28 %

11.41 %

13.28 %

Since inception

24.77 %

25.28 %

7.88 %

8.03 %

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

Share class (O-EUR)

Benchmark

7.01 %

8.13 %

11.41 %

13.28 %

24.77 %

25.28 %

Annualised

Share class (O-EUR)

Benchmark

11.41 %

13.28 %

7.88 %

8.03 %

*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*11.49 %10.45 %2.87 %0.97 %-0.94 %0.97 %
3 Year *
Max. drawdownAlphaBeta
Share class O-EURBenchmarkShare class O-EURBenchmarkShare class O-EURBenchmark
1 Year*-7.56 %-0.06 %1.07 %
3 Year *
Max. monthly gain Since inception9.13 %
Max. monthly loss Since inception-7.36 %
Share class O-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 11.49 % 10.45 %
Tracking Error 2.87 %
Sharpe ratio 0.97 %
Alpha -0.06 %
Correlation coefficient 0.97 %
Information ratio -0.94 %
Max. monthly loss -7.36 %
Max. monthly gain 9.13 %
Max. drawdown -7.56 %
Beta 1.07 %

Fund information

Inception Date (Fund)
02/09/1999
Inception Date (Part)
23/10/2014
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
LU1161528275
AuM (fund)
443 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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