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 Infrasphere Thematic equities

Thematic equities
Change in NAV (08/12/2017)
185.27 EUR
Emmanuel  PAINCHAULT–LU1160362239–
Emmanuel PAINCHAULT
Pierre PEDROSA–LU1160362239–
Pierre PEDROSA
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
185.27 EUR
Change in NAV (08/12/2017)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (08/12/2017)
185.27 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Emmanuel PAINCHAULT  
Pierre PEDROSA  
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 on the international equity markets, notably in the infrastructure sector, over the recommended minimum investment period.

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Commentary 30/11/2017

International equity markets (MSCI ACWI) were up in November (+1.8% in USD), but the euro's appreciation over the period pushed the index's performance into negative territory (-0.3% in euros). One year after the US presidential election, the 10-year US Treasury yield is unchanged at 2.4% while the USD has weaken sharply since November 2016 despite three rate hikes by the Fed, reflecting the difficulties the Trump Administration is having in delivering its promised reforms. Nevertheless, progress on tax reform continues to galvanize markets in the absence of an announcement of an infrastructure plan which appears to have been pushed back to the mid-term agenda. In Europe, long-term yields fell to a two-month low, reflecting investors' fears of low inflation. These concerns are shared by Fed officials as recorded in the minutes of the last FOMC. In this context, the fund posted a performance of +0.1%, bringing its gains since the beginning of the year to +8.4%. The best contributors to performance were Rubis, which has reported Q3 consolidated sales up 36% y-o-y, and CSX Corp, whose CEO Hunter Harrison has hinted that he would stay ‘a little longer' in order to best prepare his succession plan. The worst contributor to performance was Guandong Investment, which lost -9% over the month, following the Hong Kong government's decision to raise its tariff for water concessions by just +0.3% per year for the period 2018-20 (against +6% p.a. for 2015-17). We have strengthened our emerging market exposure and introduced the Indian utility Indraprastha Gas. The company distributes natural gas and enjoys a monopoly position in Delhi. To reduce pollution, India's government wants to triple the share of gas in the indian energy mix by 2025. In Delhi, public transport vehicles are required to use Compressed Natural Gas (CNG). The company also wants to expand into new cities, which should boost its volume growth.

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Change in NAV

Chart – Base 100 (08/12/2017)
Avertissement
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 I-EUR Cumulative Annualised
Since 01/01/2017

9.60 %

9.60 %

1 Year

11.92 %

11.92 %

3 Year

12.98 %

4.15 %

5 year

44.79 %

7.67 %

Since inception

85.27 %

6.88 %

Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

Share class (I-EUR)

Benchmark

9.60 %

11.92 %

12.98 %

44.79 %

85.27 %

Annualised

Share class (I-EUR)

Benchmark

11.92 %

4.15 %

7.67 %

6.88 %

*Rolling periods

Annual performance



Statistics

VolatilityMax. drawdown
Share class I-EURBenchmarkShare class I-EURBenchmark
1 Year*6.68 %-5.03 %
3 Year *8.40 %-21.78 %
Max. monthly gain Since inception10.25 %
Max. monthly loss Since inception-25.19 %
Share class I-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 6.68 % 8.40 %
Tracking Error
Max. monthly loss -25.19 %
Max. monthly gain 10.25 %
Max. drawdown -5.03 % -21.78 %

Fund information

Inception Date (Fund)
28/12/2007
Inception Date (Part)
04/09/2008
Legal form
SICAV
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1160362239
AuM (fund)
43 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
0,750 %
Current management fee
0.750 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
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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