Edmond de Rothschild

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EdR Fund FX Absolute Return Currency strategies

Currency strategies
Change in NAV (04/12/2018)
97.92 EUR
Edmond  de Rothschild Asset Management (Suisse) S.A.–LU1583300329–
Edmond de Rothschild Asset Management (Suisse) S.A.
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
> 2 years
97.92 EUR
Change in NAV (04/12/2018)
3
1234567
Risk and reward profile
> 2 years
Recommended holding period
Change in NAV (04/12/2018)
97.92 EUR
Risk and reward profile
1234567
Recommended holding period
> 2 years
Edmond de Rothschild Asset Management (Suisse) S.A.  
 
The identity of the managers presented in this document may change during the life of the product.
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Investment objective

The Sub-Fund investment objective is to obtain an absolute annual return using an active investment strategy across highly liquid currencies.

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Commentary 29/12/2017

December proved negative for the USD in a climate featuring a 25 bps rise, already anticipated by the market, in the Federal Reserve's key interest rate. Fed chair Janet Yellen's final speech as president of the US Reserve Bank was disappointing, especially in its forecast of accelerating inflation over the short term. In general, both the Fed and the ECB still see real inflation holding below its 2% target and seem preoccupied with the lack of a recovery in prices — despite an environment of economic growth and full employment (in the United States). The vote held on Donald Trump's fiscal reform — while very positive for the equity markets — has proved to be less buoyant for the USD, given concerns over the massive resulting drop in tax revenue for the Administration in the United States. In a climate of weak liquidity linked to the impending year end, the euro benefited in full from the USD's weakness and investor optimism that European growth would continue in 2018. Given this configuration, our models shifted towards a moderately long position on the euro. The Brazilian real (BRL) has continued its movement in a complicated environment between pension reform on the brink of disaster, high political tension, and an (anticipated) downgrade to its sovereign rating by Standard & Poor. The Japanese yen suffered from the renewal of Haruhiko Kuroda's position as Governor of the BoJ, and our strategy model has maintained a significant short position on the JPY. Turning to the Australian and Canadian dollars, in the wake of extremely strong market movements driven by an appetite for emerging countries and commodities, the models moved us slightly longer on the CAD and AUD.

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Change in NAV

Chart – Base 100 (04/12/2018)
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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 ME-EUR Cumulative Annualised

-0.91 %

-0.38 %

Since inception

-2.08 %

-0.50 %

-1.58 %

-0.38 %

Since 01/01/2018 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (ME-EUR)

Benchmark

-2.08 %

-0.50 %

Annualised

Share class (ME-EUR)

Benchmark

-0.91 %

-0.38 %

-1.58 %

-0.38 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class ME-EURBenchmarkShare class ME-EURBenchmarkShare class ME-EURBenchmarkShare class ME-EURBenchmarkShare class ME-EURBenchmark
1 Year*2.78 %2.78 %-0.09 %-0.19 %-6.44 %
3 Year *
Max. drawdownAlphaBeta
Share class ME-EURBenchmarkShare class ME-EURBenchmarkShare class ME-EURBenchmark
1 Year*-2.19 %-2.19 %-1.19 %-163.42 %
3 Year *
Max. monthly gain Since inception
Max. monthly loss Since inception
Share class ME-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 2.78 %
Tracking Error 2.78 %
Sharpe ratio -6.44 %
Alpha -1.19 %
Correlation coefficient -0.09 %
Information ratio -0.19 %
Max. drawdown -2.19 % -2.19 %
Beta -163.42 %

Fund information

Inception Date (Fund)
08/08/2017
Inception Date (Part)
08/08/2017
Legal form
SICAV
Benchmark
EURIBOR EUR 1M Capitalise
Currency (fund)
USD
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1583300329
AuM (fund)
62 M (USD)
Regulatory authority
CSSF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (Suisse) S.A
Incorporation
Luxembourg
Maximum management fee
0,050 %
Current management fee
0.050 %

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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