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 (18/10/2018)
119.24 EUR
Adeline  SALAT-BAROUX–LU1781815995–
Adeline SALAT-BAROUX
Valérie GUELFI–LU1781815995–
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
119.24 EUR
Change in NAV (18/10/2018)
6
1234567
Risk and reward profile
5 years
Recommended holding period
Change in NAV (18/10/2018)
119.24 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 29/06/2018

June closed on modest growth. Within the portfolio performances varied considerably. Endo Pharma posted a very strong rebound (+50%). The company announced it has resolved all the litigation issues over its testosterone replacement treatment. Allergan is up, thanks to its publication of positive results on two products in its pipeline. The efficacy of ubrogepant, its treatment for severe migraine, has proved statistically significant in all dosages studied. Allergan has also released positive data for its new sustained-release implant to control glaucoma and intraocular hypertension. Such results are likely to reassure investors on the growth potential for Allergan's product pipeline. In contrast, the Chinese companies that posted strong performances in May were in sharp decline this month, as the result of profit-taking (3S Bio Inc -19%, Weigao -16%). We are reducing our position on Evolent Health following its significant catch-up since the start of the year. Meanwhile, a position has been initiated on Dynavax, a US company specialising in immunotherapy. The company has also received approval for a new vaccine against hepatitis B in adults. This product has shown an efficiency rate of 90%, far superior to the vaccine currently on the market. Dynavax has just started marketing it in the United States. In addition, the company is developing a combination therapy using one of its products (a TLR9 agonist) with Keytruda (a Merck immuno-oncology product). First results appear to demonstrate an increase in efficacy in the treatment of severe melanoma. Tests on other indications are currently under development.

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Fund information

Inception Date (Fund)
30/04/1985
Inception Date (Part)
03/04/2018
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
LU1781815995
AuM (fund)
335 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
1,450 %
Current management fee
1.450 %
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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