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EdR Fund US Value & Yield US equities

US equities
Change in NAV (18/10/2017)
197.55 EUR
Christophe  FOLIOT–LU1103304645–
Christophe FOLIOT
Adeline SALAT-BAROUX–LU1103304645–
Adeline SALAT-BAROUX
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
197.55 EUR
Change in NAV (18/10/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (18/10/2017)
197.55 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Christophe FOLIOT  
Adeline SALAT-BAROUX  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Sub-Fund actively selects undervalued and recovery stocks that have a healthy balance sheet and whose prospects are improving. The Sub-Fund is invested in North American large capitalisations.

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Commentary 29/09/2017

Discounted US stocks started to rotate as interest rates rose, while low volatility stocks have begun to underperform. In sector terms, this resulted in an outperformance by financial and energy stocks, while technology, utilities and consumer stocks were left behind. In this situation, in the wake of a challenging summer, the portfolio performed well in both absolute and relative terms during September. The fund's largest rebounds were linked to oil production and services companies (their stocks still posting declines of around -20% since the beginning of the year, while oil prices got back to their January levels). In contrast, Bombardier, the railroad and aerospace manufacturer, was penalised by the US Department of Commerce's announcement it would launch proceedings to impose tariffs on C-Series jet plane sales to US airlines. The portfolio's relative performance backlog remains considerable this year and can be attributed to its heavy energy sector overweighting, and substantial underweighting on the technology sector, in which there are no longer any attractive discounted stocks to be found. This trend could well continue given the historic level of valuation and performance spreads, the likelihood of tax reform, and a modest upturn in inflation.

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Change in NAV

Chart – Base 100 (18/10/2017)
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 J-EUR Cumulative Annualised
Since 01/01/2017

-6.60 %

3.61 %

-6.60 %

3.61 %

1 Year

6.29 %

13.17 %

6.29 %

13.17 %

3 Year

33.86 %

53.82 %

10.19 %

15.41 %

5 year

87.43 %

109.43 %

13.38 %

15.92 %

Since inception

111.42 %

150.17 %

12.69 %

15.76 %

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

Share class (J-EUR)

Benchmark

-6.60 %

3.61 %

6.29 %

13.17 %

33.86 %

53.82 %

87.43 %

109.43 %

111.42 %

150.17 %

Annualised

Share class (J-EUR)

Benchmark

6.29 %

13.17 %

10.19 %

15.41 %

13.38 %

15.92 %

12.69 %

15.76 %

*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*16.20 %12.65 %6.72 %0.92 %-0.85 %0.98 %
3 Year *17.09 %12.38 %9.06 %0.85 %-0.59 %1.03 %
Max. drawdownAlphaBeta
Share class J-EURBenchmarkShare class J-EURBenchmarkShare class J-EURBenchmark
1 Year*-17.62 %-0.13 %1.17 %
3 Year *-35.76 %-0.54 %1.18 %
Max. monthly gain Since inception13.45 %
Max. monthly loss Since inception-16.09 %
Share class J-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 16.20 % 17.09 % 12.65 % 12.38 %
Tracking Error 6.72 % 9.06 %
Sharpe ratio 0.98 % 1.03 %
Alpha -0.13 % -0.54 %
Correlation coefficient 0.92 % 0.85 %
Information ratio -0.85 % -0.59 %
Max. monthly loss -16.09 %
Max. monthly gain 13.45 %
Max. drawdown -17.62 % -35.76 %
Beta 1.17 % 1.18 %

Fund information

Inception Date (Fund)
28/12/2000
Inception Date (Part)
15/07/2011
Legal form
SICAV
Benchmark
S&P 500 (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1103304645
AuM (fund)
866 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

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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