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EdR Fund US IG Corporate Bonds Corporate bonds

Corporate bonds
Change in NAV (21/09/2017)
191.12 USD
Mark  KOWALSKI–LU1080015180–
Mark KOWALSKI
Marc LACRAZ–LU1080015180–
Marc LACRAZ
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
> 2 years
191.12 USD
Change in NAV (21/09/2017)
3
1234567
Risk and reward profile
> 2 years
Recommended holding period
Change in NAV (21/09/2017)
191.12 USD
Risk and reward profile
1234567
Recommended holding period
> 2 years
Mark KOWALSKI  
Marc LACRAZ  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The goal of the EDR fund US IG Corporate Bonds is to outperform the Bank of America Merrill Lynch 1-10 Year US Corporate Index.

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Commentary 31/08/2017

August saw a slight risk-off tendency in global markets. Benchmark sovereign bonds performed well, with the yields of the 10 year Treasury and 10 year Bund falling both by 20 basis points. The market pushed back timing expectations for central bank tightening. The next Fed rate hike is now expected by the market to be in 2018, following the continual inflation data that is underwhelming the market. In the Eurozone, investors are becoming less concerned that the ECB will announce a ‘hard' taper in the near term, despite the strong economic data. The strength of the single currency could give the ECB pause. Jackson Hole was relatively uneventful, with no monetary policy changes signaled by either Janet Yellen or Mario Draghi. August saw a lull in this year's near constant corporate spread compression. Geopolitical tensions rose, the VIX spiked mid-month, and equity markets ended flat to lower depending on the region. Investment grade spreads rose, regardless of the lack of supply in August.

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Change in NAV

Chart – Base 100 (21/09/2017)
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 A-USD Cumulative Annualised
Since 01/01/2017

3.64 %

3.76 %

3.64 %

3.76 %

1 Year

1.58 %

2.11 %

1.58 %

2.11 %

3 Year

6.38 %

9.96 %

2.08 %

3.21 %

5 year

7.50 %

10.43 %

1.46 %

2.00 %

Since inception

91.12 %

97.98 %

3.94 %

4.16 %

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

Share class (A-USD)

Benchmark

3.64 %

3.76 %

1.58 %

2.11 %

6.38 %

9.96 %

7.50 %

10.43 %

91.12 %

97.98 %

Annualised

Share class (A-USD)

Benchmark

1.58 %

2.11 %

2.08 %

3.21 %

1.46 %

2.00 %

3.94 %

4.16 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmark
1 Year*2.42 %2.41 %0.44 %0.98 %-1.89 %0.62 %
3 Year *2.65 %2.49 %0.72 %0.96 %-1.66 %1.07 %
Max. drawdownAlphaBeta
Share class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmark
1 Year*-3.41 %-0.02 %0.99 %
3 Year *-3.41 %-0.10 %1.03 %
Max. monthly gain Since inception2.61 %
Max. monthly loss Since inception-2.32 %
Share class A-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 2.42 % 2.65 % 2.41 % 2.49 %
Tracking Error 0.44 % 0.72 %
Sharpe ratio 0.62 % 1.07 %
Alpha -0.02 % -0.10 %
Correlation coefficient 0.98 % 0.96 %
Information ratio -1.89 % -1.66 %
Max. monthly loss -2.32 %
Max. monthly gain 2.61 %
Max. drawdown -3.41 % -3.41 %
Beta 0.99 % 1.03 %

Fund information

Inception Date (Fund)
18/12/2000
Inception Date (Part)
18/12/2000
Legal form
SICAV
Benchmark
BofA Merrill Lynch 1-10 Year US Corporate
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1080015180
AuM (fund)
82 M (USD)
Regulatory authority
CSSF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild (Suisse) S.A.
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
Subscription fee
1.00 % max

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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