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 Healthcare Thematic equities

Thematic equities
Change in NAV (21/02/2018)
280.12 EUR
Adeline  SALAT-BAROUX–LU1160356694–
Adeline SALAT-BAROUX
Valérie GUELFI–LU1160356694–
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
280.12 EUR
Change in NAV (21/02/2018)
6
1234567
Risk and reward profile
5 years
Recommended holding period
Change in NAV (21/02/2018)
280.12 EUR
Risk and reward profile
1234567
Recommended holding period
5 years
Adeline SALAT-BAROUX  
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 net assets by investing in companies operating in the healthcare sector, over the recommended investment period.

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Commentary 31/01/2018

There was a positive start to the year for the healthcare sector. US companies are currently upgrading their earnings outlook for 2018. The tax-rate cuts resulting from US tax reform mainly benefits health mutuals, which continued to gain ground at the start of the year. Several US pharmaceutical and biotechnology companies have announced the repatriation of their funds held abroad. This trend should encourage acceleration in M&A transactions. Sanofi wants to catch up its backlog on acquisitions, and made two announcements in January. It is strengthening on rare blood-related diseases with its $11.6 billion bid for Bioverativ, the US specialist in the treatment of haemophilia. Sanofi will also acquire Ablynx for €3.9 billion. Meanwhile, we are reducing our exposure to US health mutuals after their very strong run in recent months (UnitedHealth, Anthem). Instead, we have introduced CVS, a company whose valuation seems largely to be pricing in concerns at possible competition from a player like Amazon entering US drug distribution. CVS has been pursuing a vertical integration strategy with the acquisition of the insurer Aetna. This transaction should generate cost savings and, above all, offer potential for synergies with its MinuteClinic rapid-care centres in the pharmacy network. Prospects for 2018 are positive for the sector with a political environment that should stop weighing in on investor sentiment. With the exception of certain specific sub-segments, valuations are running at a significant discount against the market. Visibility on earnings growth remains strong and the pace of innovation will be sustained.

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Change in NAV

Chart – Base 100 (21/02/2018)
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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 R-EUR Cumulative Annualised
Since 01/01/2018

-3.68 %

-1.43 %

-3.68 %

-1.43 %

1 Year

-15.11 %

-2.86 %

-15.11 %

-2.86 %

3 Year

-11.70 %

4.72 %

-4.06 %

1.54 %

5 year

61.94 %

93.62 %

10.12 %

14.12 %

Since inception

180.12 %

226.31 %

12.10 %

14.02 %

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

Share class (R-EUR)

Benchmark

-3.68 %

-1.43 %

-15.11 %

-2.86 %

-11.70 %

4.72 %

61.94 %

93.62 %

180.12 %

226.31 %

Annualised

Share class (R-EUR)

Benchmark

-15.11 %

-2.86 %

-4.06 %

1.54 %

10.12 %

14.12 %

12.10 %

14.02 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class R-EURBenchmarkShare class R-EURBenchmarkShare class R-EURBenchmarkShare class R-EURBenchmarkShare class R-EURBenchmark
1 Year*13.11 %10.77 %5.41 %0.91 %-2.23 %0.62 %
3 Year *15.53 %13.55 %5.11 %0.95 %-1.01 %0.29 %
Max. drawdownAlphaBeta
Share class R-EURBenchmarkShare class R-EURBenchmarkShare class R-EURBenchmark
1 Year*-13.52 %-0.24 %1.11 %
3 Year *-25.27 %-0.44 %1.09 %
Max. monthly gain Since inception12.48 %
Max. monthly loss Since inception-14.13 %
Share class R-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 13.11 % 15.53 % 10.77 % 13.55 %
Tracking Error 5.41 % 5.11 %
Sharpe ratio 0.62 % 0.29 %
Alpha -0.24 % -0.44 %
Correlation coefficient 0.91 % 0.95 %
Information ratio -2.23 % -1.01 %
Max. monthly loss -14.13 %
Max. monthly gain 12.48 %
Max. drawdown -13.52 % -25.27 %
Beta 1.11 % 1.09 %

Fund information

Inception Date (Fund)
30/04/1985
Inception Date (Part)
17/02/2009
Legal form
SICAV
Benchmark
MSCI AC World Health Care (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1160356694
AuM (fund)
341 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
2,100 %
Current management fee
2.100 %
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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