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 Global Value International equities

International equities
Change in NAV (20/04/2018)
150.21 EUR
Christophe  FOLIOT–LU1336296451–
Christophe FOLIOT
Valérie GUELFI–LU1336296451–
Valérie GUELFI
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
150.21 EUR
Change in NAV (20/04/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (20/04/2018)
150.21 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Christophe FOLIOT  
Valérie GUELFI  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The objective is to grow its net assets by selecting stocks that are listed primarily on the international equity markets, and to outperform the MSCI World index, over the recommended investment period.

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Commentary 29/03/2018

Returning volatility, fears of a trade war and a fall in US 10-year yields led to an equity market correction and renewed interest in the defensive sectors. Worldwide, utilities and real estate stocks posted gains in March, while cyclicals and technology stocks fell -3% in euros. Global Value's portfolio help up slightly better in relative terms, thanks in particular to its health and energy sector holdings. While oil closed the month at around $65/bbl on the WTI, near its 2018 peaks and reaching a four-year high, energy stocks began a modest rebound. This was supported by a disciplined approach from management (focusing on shareholder return and low capex growth), as well as sector rotation during the month. The health sector remained under pressure in March, but the fund benefited from Allergan's gains after a bold management speech arguing that a strategic review was urgent. Meanwhile, Shire also made gains, following confirmation of interest by Japan's Takeda, which is likely to make a formal offer in April. In an environment with long-term rates falling again and the yield curve flattening, US bank stocks had a heavy impact on the portfolio's absolute performance. For example, Bank of America saw its annual gains wiped out despite expectations of over 30% earnings growth this year, and Congress's approval for bank regulation reform. This correction is, we feel, more the result of a valuation-multiple compression phase, rather than an adjustment linked to lower earnings expectations.

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Change in NAV

Chart – Base 100 (20/04/2018)
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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 B-EUR Cumulative Annualised
Since 01/01/2018

1.15 %

-1.80 %

1.15 %

-1.80 %

1 Year

0.51 %

1.60 %

0.51 %

1.60 %

Since inception

33.00 %

26.36 %

14.12 %

11.45 %

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

Share class (B-EUR)

Benchmark

1.15 %

-1.80 %

0.51 %

1.60 %

33.00 %

26.36 %

Annualised

Share class (B-EUR)

Benchmark

0.51 %

1.60 %

14.12 %

11.45 %

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
09/06/2008
Inception Date (Part)
22/02/2016
Legal form
SICAV
Benchmark
MSCI World (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1336296451
AuM (fund)
136 M (EUR)
Regulatory authority
CSSF
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Incorporation
Luxembourg
Maximum management fee
1,700 %
Current management fee
1.700 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % max
Performance fee
15,000 %

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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