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EdR Fund Europe Value & Yield Europe equities

Europe equities
Change in NAV (23/05/2017)
122.88 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
122.88 EUR
Change in NAV (23/05/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (23/05/2017)
122.88 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 28/04/2017

Following a hesitant start to the month, against a backdrop of political tensions and weakening conviction as to Donald Trump's economic policy, the trend has flipped to close on a rebound at the month end. European markets have been reassured by the ECB's still very accommodating tone, and were galvanised by the results of the first round in the French presidential elections. Policy remained in the footlights in April, but it seems that markets are now starting to focus on corporate earnings, which are turning out to be rather good for the quarter. The figures reflect a positive shift in organic growth, in which all sectors have been implicated. The momentum is particularly positive for discretionary consumption, especially the luxury goods, automobile as well as travel and leisure industries, which posted the best performances this month. Industrial stocks and technology are also publishing reassuring reports. The signs for emerging countries and Europe look pretty encouraging for the rest of the year. In contrast, the oil and commodities sectors have been penalised by tumbling oil prices, particularly after production re-started at a number of oilfields in Libya. On the M&A front, the findings of Unilever's strategic review (reacting to Kraft's rejection of its offer) have led to significant asset disposals and stock buy-back prospects. After refusing the first two offers, Akzo has accepted a third bid from PPG this month, for a mixture of cash and securities, without yet having reached a final settlement. The acquisition of Dior's minority interests by the Arnault family has been announced, as well as the brand's attribution to LVMH with a view to simplifying corporate structures and generating synergies.

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Change in NAV

Chart – Base 100 (23/05/2017)
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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 O-EUR Cumulative Annualised
Since 01/01/2017 9.70 % 9.70 %
1 Year 16.22 % 16.22 %
Since inception 27.92 % 10.00 %
Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

9.70 %

16.22 %

27.92 %

Annualised

16.22 %

10.00 %



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year1 Year1 Year1 Year1 Year
Share class O-EUR13.17 %3.12 %0.97 %-1.85 %1.38 %
Benchmark12.39 %
Max. monthly lossMax. monthly gainMax. drawdownAlphaBeta
Since inceptionSince inception1 Year1 Year1 Year
Share class O-EUR-7.36 %9.13 %-11.27 %-0.11 %1.03 %
Benchmark
Share class O-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 13.17 % 12.39 %
Tracking Error 3.12 %
Sharpe ratio 1.38 %
Alpha -0.11 %
Correlation coefficient 0.97 %
Information ratio -1.85 %
Max. monthly loss -7.36 %
Max. monthly gain 9.13 %
Max. drawdown -11.27 %
Beta 1.03 %

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)
466 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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