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 Premiumsphere Thematic equities

Thematic equities
Change in NAV (21/11/2017)
164.04 EUR
Adeline  SALAT-BAROUX–LU1082942993–
Adeline SALAT-BAROUX
Nan ZHANG–LU1082942993–
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
164.04 EUR
Change in NAV (21/11/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (21/11/2017)
164.04 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.

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Commentary 31/10/2017

The fund Premiumsphere continues to outperform thanks to solid fundamentals, driven by firm and healthy rebound in Mainland China and recovery of mature market consumers. The global luxury goods market growth has been revised up and expects now a 4-5% CAGR till 2020. Under such favorable circumstances, industry giants LVMH and Kering reported overwhelming quarterly results, double digit growth over all segments except wines & spirits due to supply constraints for LVMH, and +28% organic growth with Gucci up 49% on comparable basis for Kering. Rising star Moncler keeps on shining with sales up 16% over first 9 months, reinforced further by the reopening of flagship Via Montenapoleone in Milan. We introduced SMCP, owner of Sandro, Maje and Claudie Pierlot provided its attractive offering, and sold Brunello Cucinelli as the valuation became stretched. L'Occitane has been strengthened in the portfolio due to stock correction while long-term targets remain intact. German premium auto makers experienced another month of stock rally since the drop-off in diesel residual value has not been as aggressive as may have been expected and margin is actually higher on gasoline engine. Moreover, both Daimler and Volkswagen demonstrated their strong cash generation capability despite increased investment related to electrical vehicles development. On the other hand, Polaris, key off-road vehicle manufacturer in North America, reversed sales negative trend, back to market share gain after 2 years of restructuring efforts. We took the profits after the stock soared +15%. US retailers are undergoing massive structural shift, with social media turning into the new channel of choice. Where consumers once eyed magazine ads, billboards, TV commercials for inspiration, they now discover products, brands and trends via platforms such as Instagram offering personalized, engaging, and constantly updating feeds. Brands like Nike who know how to adapt and create direct reach to consumers will benefit significantly in the new digital era. However, Macy's keeps falling on negative peers news flow whereas e-commerce accounts for over 20% of total sales and the company owns over half of its stores. We are comfortable and patient with its turnaround.

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Change in NAV

Chart – Base 100 (21/11/2017)
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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 J-EUR Cumulative Annualised
Since 01/01/2017

17.74 %

8.63 %

17.74 %

8.63 %

1 Year

19.03 %

12.12 %

19.03 %

12.12 %

3 Year

17.45 %

32.23 %

5.50 %

9.75 %

5 year

55.22 %

86.12 %

9.19 %

13.22 %

Since inception

71.31 %

91.66 %

10.48 %

12.80 %

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

Share class (J-EUR)

Benchmark

17.74 %

8.63 %

19.03 %

12.12 %

17.45 %

32.23 %

55.22 %

86.12 %

71.31 %

91.66 %

Annualised

Share class (J-EUR)

Benchmark

19.03 %

12.12 %

5.50 %

9.75 %

9.19 %

13.22 %

10.48 %

12.80 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class J-EURBenchmarkShare class J-EURBenchmarkShare class J-EURBenchmarkShare class J-EURBenchmarkShare class J-EURBenchmark
1 Year*9.28 %9.67 %6.19 %0.79 %0.88 %2.12 %
3 Year *13.77 %11.74 %8.61 %0.78 %-0.39 %0.92 %
Max. drawdownAlphaBeta
Share class J-EURBenchmarkShare class J-EURBenchmarkShare class J-EURBenchmark
1 Year*-6.03 %0.17 %0.76 %
3 Year *-31.38 %-0.16 %0.91 %
Max. monthly gain Since inception15.54 %
Max. monthly loss Since inception-14.12 %
Share class J-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 9.28 % 13.77 % 9.67 % 11.74 %
Tracking Error 6.19 % 8.61 %
Sharpe ratio 2.12 % 0.92 %
Alpha 0.17 % -0.16 %
Correlation coefficient 0.79 % 0.78 %
Information ratio 0.88 % -0.39 %
Max. monthly loss -14.12 %
Max. monthly gain 15.54 %
Max. drawdown -6.03 % -31.38 %
Beta 0.76 % 0.91 %

Fund information

Inception Date (Fund)
13/11/2007
Inception Date (Part)
29/06/2012
Legal form
SICAV
Benchmark
MSCI AC World (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1082942993
AuM (fund)
49 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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