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EdR Fund Selective Europe Europe equities

Europe equities
Change in NAV (14/11/2017)
166.64 EUR
Olivier  HUET–LU1082945822–
Olivier HUET
Philippe LECOQ–LU1082945822–
Philippe LECOQ
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
166.64 EUR
Change in NAV (14/11/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (14/11/2017)
166.64 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Olivier HUET  
Philippe LECOQ  
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 create performance via exposure to equity markets, primarily from the European Community, through selecting stocks chosen on a discretionary basis from an investment scope comparable to the MSCI Europe Index expressed in euros.

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Commentary 31/10/2017

Equity markets closed October with yet another rise, reassured by the buoyant environment: The ECB has extended its asset repurchasing programme until September 2018, while reducing its amount from €60 billion to €30 billion, from January onward. This means a reduced risk of interest rates rising again and a halt to the euro's climb — two clearly positive factors that are supporting equity valuations in the euro zone. The Bank of England has raised its key rate 25 bps to 0.50% for the first time in over 10 years. At the macroeconomic level, the euro zone once again distinguished itself by positive figures testifying to the current economic momentum. This, with the PMI Composite reaching a record high at 56.7 (vs 55.7 in August) and the PMI Manufacturing stable in October at 58.5 (vs 56.8 in September) and 56.1 in France. It should be noted that following Catalonia's declaration of independence by the regional parliament, the region was put under Madrid's supervision, with early elections scheduled for December 21. Driven by organic growth, the Q3 results reflect the acceleration in the cycle, with operational leverage varying from one sector to another: This was strong for industrial cyclicals, tech stocks and luxury, but undermined by rising energy and material costs in the construction sector; and less visible in banking (with the low risk cost already priced-in, and no early prospect of significant rate hikes). During the month we gradually reduced any differences between the portfolio and that of Edmond de Rothschild Europe Synergy, in keeping with its planned integration into the latter, scheduled for November 15, 2017.

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Change in NAV

Chart – Base 100 (14/11/2017)
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 K-EUR Cumulative Annualised
Since 01/01/2017

3.86 %

8.61 %

3.86 %

8.61 %

1 Year

11.00 %

16.39 %

11.00 %

16.39 %

3 Year

11.38 %

22.98 %

3.66 %

7.13 %

5 year

31.19 %

60.79 %

5.58 %

9.96 %

Since inception

66.63 %

76.58 %

6.78 %

7.58 %

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

Share class (K-EUR)

Benchmark

3.86 %

8.61 %

11.00 %

16.39 %

11.38 %

22.98 %

31.19 %

60.79 %

66.63 %

76.58 %

Annualised

Share class (K-EUR)

Benchmark

11.00 %

16.39 %

3.66 %

7.13 %

5.58 %

9.96 %

6.78 %

7.58 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class K-EURBenchmarkShare class K-EURBenchmarkShare class K-EURBenchmarkShare class K-EURBenchmarkShare class K-EURBenchmark
1 Year*9.78 %8.87 %2.49 %0.97 %-1.39 %2.69 %
3 Year *14.47 %13.10 %3.25 %0.98 %-0.82 %0.63 %
Max. drawdownAlphaBeta
Share class K-EURBenchmarkShare class K-EURBenchmarkShare class K-EURBenchmark
1 Year*-7.96 %-0.08 %1.07 %
3 Year *-28.44 %-0.25 %1.08 %
Max. monthly gain Since inception11.30 %
Max. monthly loss Since inception-15.77 %
Share class K-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 9.78 % 14.47 % 8.87 % 13.10 %
Tracking Error 2.49 % 3.25 %
Sharpe ratio 2.69 % 0.63 %
Alpha -0.08 % -0.25 %
Correlation coefficient 0.97 % 0.98 %
Information ratio -1.39 % -0.82 %
Max. monthly loss -15.77 %
Max. monthly gain 11.30 %
Max. drawdown -7.96 % -28.44 %
Beta 1.07 % 1.08 %

Fund information

Inception Date (Fund)
19/11/2008
Inception Date (Part)
04/02/2010
Legal form
SICAV
Benchmark
MSCI Europe (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1082945822
AuM (fund)
15 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
0,850 %
Current management fee
0.850 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value

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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