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EdR Fund Global Healthcare Thematic equities

Thematic equities
Change in NAV (26/04/2017)
303.22 EUR
Adeline  SALAT-BAROUX–LU1160357155–
Valérie GUELFI–LU1160357155–
Valérie GUELFI
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
Recommended holding period
5 years
303.22 EUR
Change in NAV (26/04/2017)
Risk and reward profile
5 years
Recommended holding period
Change in NAV (26/04/2017)
303.22 EUR
Risk and reward profile
Recommended holding period
5 years
Valérie GUELFI  
The identity of the managers presented in this document may change during the life of the product.

Investment objective

The objective is to grow net assets by investing in companies operating in the healthcare sector, over the recommended investment period.

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Commentary 31/03/2017

US president Donald Trump has suffered a major setback with his first healthcare reform proposal. The House of Representatives refused to sanction the repeal and replacement of Obamacare. Some senior Republicans officials argue that the Bill does not break radically enough with Obama's Affordable Care Act. While the more centrist among them see a risk for the 24 million Americans who benefited from health coverage through the Obama reform. Drug price discussions have focused exclusively on Medicare negotiations, which represent a very limited slice of pharmaceutical laboratory income, and would be difficult to implement. In this climate, however, uncertainties and concerns over healthcare reform and price regulation should no longer unduly trouble investors. On the corporate side, we have strengthened our exposure to Roche. The results of the Aphinity study are positive for Roche's Herceptin franchise. In addition, the FDA has approved its product Ocrelizumab, the first treatment against the progressive primary form of multiple sclerosis. Vertex recorded a strong performance after the publication of very positive results from its cystic fibrosis combination treatment trials. Meanwhile, we have initiated a position on Evolent Health, a US company that provides software and services to hospitals to improve the delivery of care value. The company should benefit from the evolution of the healthcare system in the United States, as it moves increasingly towards reimbursement/reward systems that depend on the value or effectiveness of the care delivered.

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Change in NAV

Chart – Base 100 (26/04/2017)
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 K-EUR Cumulative performance Annualised performance
Since 01/01/2017 6.25 %  
1 Year 9.71 % 9.71 %
3 Year 60.94 % 17.15 %
5 year 140.12 % 19.14 %
Since inception 203.22 % 16.59 %
Performance K-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 6.25 % 9.71 % 60.94 % 140.12 % 203.22 %
Annualised performance 9.71 % 17.15 % 19.14 % 16.59 %


VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class K-EUR19.67 %16.75 %5.81 %3.97 %0.97 %0.97 %-0.14 %0.16 %0.95 %1.06 %
Benchmark15.52 %14.93 %
Max. monthly lossMax. monthly gainAlphaBeta
Since inceptionSince inception1 Year3 Year 1 Year3 Year
Share class K-EUR-17.63 %13.94 %-0.07 %-0.05 %1.23 %1.09 %
Share class K-EUR
1 Year 3 Year 1 Year 3 Year
Volatility 19.67 % 16.75 % 15.52 % 14.93 %
Tracking Error 5.81 % 3.97 %
Sharpe ratio 0.95 % 1.06 %
Alpha -0.07 % -0.05 %
Correlation coefficient 0.97 % 0.97 %
Information ratio -0.14 % 0.16 %
Max. monthly loss -17.63 %
Max. monthly gain 13.94 %
Beta 1.23 % 1.09 %

Fund information

Inception Date (Fund)
Inception Date (Part)
Legal form
MSCI AC World Health Care (NR)
Currency (fund)
Currency (share class)
Distribution Policy
Valuation frequency
Minimum initial investment
500000.00 EUR
AuM (fund)
537 M (EUR)
Regulatory authority
EU Regulation
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Maximum management fee
0,850 %
Current management fee
0.850 %
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.