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EdR Fund Selective Europe Europe equities

Europe equities
Change in NAV (26/05/2017)
117.74 EUR
Olivier  HUET–LU1241136016–
Olivier HUET
Philippe LECOQ–LU1241136016–
Philippe LECOQ
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
Recommended holding period
> 5 years
117.74 EUR
Change in NAV (26/05/2017)
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (26/05/2017)
117.74 EUR
Risk and reward profile
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.

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 28/04/2017

Following a hesitant start to the month, against a backdrop of political tensions and weakening conviction as to Donald Trump's economic policy, the trend has flipped to close on a rebound at the month end. European markets have been reassured by the ECB's still very accommodating tone, and were galvanised by the results of the first round in the French presidential elections. Policy remained in the footlights in April, but it seems that markets are now starting to focus on corporate earnings, which are turning out to be rather good for the quarter. The figures reflect a positive shift in organic growth, in which all sectors have been implicated. The momentum is particularly positive for discretionary consumption, especially the luxury goods, automobile as well as travel and leisure industries, which posted the best performances this month. Industrial stocks and technology are also publishing reassuring reports. The signs for emerging countries and Europe look pretty encouraging for the rest of the year. In contrast, the oil and commodities sectors have been penalised by tumbling oil prices, particularly after production re-started at a number of oilfields in Libya. On the M&A front, the findings of Unilever's strategic review (reacting to Kraft's rejection of its offer) have led to significant asset disposals and stock buy-back prospects. After refusing the first two offers, Akzo has accepted a third bid from PPG this month, for a mixture of cash and securities, without yet having reached a final settlement. The acquisition of Dior's minority interests by the Arnault family has been announced, as well as the brand's attribution to LVMH with a view to simplifying corporate structures and generating synergies.

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Change in NAV

Chart – Base 100 (26/05/2017)
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 C-EUR Cumulative Annualised
Since 01/01/2017 10.19 % 10.19 %
1 Year 17.76 % 17.76 %
Since inception 17.74 % 13.13 %
Since 01/01/2017 1 Year 3 Year 5 year Since inception

10.19 %

17.76 %

17.74 %


17.76 %

13.13 %


VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year1 Year1 Year1 Year1 Year
Share class C-EUR11.95 %2.80 %0.97 %0.38 %1.38 %
Benchmark12.39 %
Max. monthly lossMax. monthly gainMax. drawdownAlphaBeta
Since inceptionSince inception1 Year1 Year1 Year
Share class C-EUR-8.96 %2.05 %-9.21 %0.04 %0.94 %
Share class C-EUR
1 Year 3 Year 1 Year 3 Year
Volatility 11.95 % 12.39 %
Tracking Error 2.80 %
Sharpe ratio 1.38 %
Alpha 0.04 %
Correlation coefficient 0.97 %
Information ratio 0.38 %
Max. monthly loss -8.96 %
Max. monthly gain 2.05 %
Max. drawdown -9.21 %
Beta 0.94 %

Fund information

Inception Date (Fund)
Inception Date (Part)
Legal form
MSCI Europe (NR)
Currency (fund)
Currency (share class)
Distribution Policy
Valuation frequency
Minimum initial investment
1 Share
AuM (fund)
41 M (EUR)
Regulatory authority
EU Regulation
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
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
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.