Mobile Logo

EdR Fund Premiumsphere Thematic equities

Thematic equities
Change in NAV (21/08/2017)
129.88 EUR
Adeline  SALAT-BAROUX–LU1082942217–
Adeline SALAT-BAROUX
Nan ZHANG–LU1082942217–
Nan ZHANG
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
129.88 EUR
Change in NAV (21/08/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (21/08/2017)
129.88 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Adeline SALAT-BAROUX  
Nan ZHANG  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Sub-Fund's investment objective is to outperform the MSCI AC World index through exposure to the international equity markets and through the careful selection of stocks notably in the luxury goods sector or stocks with a strong international brand image.

View more View less

Commentary 31/07/2017

There are currently 1 million Chinese people and 5 million Americans with at least 1 million USD in assets, known as HNWI (high net wealth individuals) and numbers continue to grow by mid to high single digit per year. This provides solid fundamentals for brands in the luxury space to further drive growth. Besides, China's recovery leads to accelerated sales trends among leading companies, such as double-digit growth in all segments for LVMH, or fourteenth consecutive quarter of double-digit for Moncler since its going public. Kering delivered again outstanding results, with Gucci up 39% post 48% sales growth in first quarter, confirmed improvement at Bottega Veneta and over 20% revenue increase at Saint Laurent with continued market penetration. Moreover, Swatch returned back to growth, seeing 46% sales growth of Omega brand in June alone in China and production at full capacity in July. We sold Jimmy Choo following Michael Kors offer, and Prada due to lack of visibility of its turnaround. Premiumisation keeps gaining traction, not only among auto makers but also spirits creators. German premium unit sales, including Smart and Mini, grew 5% in June, in line with year-to-date run rate. Nevertheless, recent cartel news flow weighted on stock performance regardless of encouraging results, strengthening our conviction on the auto names given their solid balance sheet. On the other hand, Diageo reported +4.3% organic sales in fiscal year 2017, and raised margin improvement objective by 75 bps over next 3 years. Portfolio optimization and productivity enhancement pave the way for more upside.

View more View less

Change in NAV

Chart – Base 100 (21/08/2017)
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 R-EUR Cumulative Annualised
Since 01/01/2017

6.50 %

1.07 %

6.50 %

1.07 %

1 Year

12.15 %

9.61 %

12.08 %

9.56 %

3 Year

11.07 %

30.85 %

3.56 %

9.37 %

Since inception

29.88 %

67.50 %

5.91 %

11.99 %

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

Share class (R-EUR)

Benchmark

6.50 %

1.07 %

12.15 %

9.61 %

11.07 %

30.85 %

29.88 %

67.50 %

Annualised

Share class (R-EUR)

Benchmark

12.08 %

9.56 %

3.56 %

9.37 %

5.91 %

11.99 %

*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*10.83 %10.48 %6.62 %0.81 %0.81 %1.00 %
3 Year *13.74 %11.70 %8.65 %0.77 %-0.68 %0.94 %
Max. drawdownAlphaBeta
Share class R-EURBenchmarkShare class R-EURBenchmarkShare class R-EURBenchmark
1 Year*-4.63 %0.12 %0.83 %
3 Year *-32.16 %-0.35 %0.91 %
Max. monthly gain Since inception15.44 %
Max. monthly loss Since inception-14.23 %
Share class R-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 10.83 % 13.74 % 10.48 % 11.70 %
Tracking Error 6.62 % 8.65 %
Sharpe ratio 1.00 % 0.94 %
Alpha 0.12 % -0.35 %
Correlation coefficient 0.81 % 0.77 %
Information ratio 0.81 % -0.68 %
Max. monthly loss -14.23 %
Max. monthly gain 15.44 %
Max. drawdown -4.63 % -32.16 %
Beta 0.83 % 0.91 %

Fund information

Inception Date (Fund)
13/11/2007
Inception Date (Part)
31/01/2013
Legal form
SICAV
Benchmark
MSCI AC World (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1082942217
AuM (fund)
44 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

Select all

(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.

Top