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EdR Fund US Value & Yield US equities

US equities
Change in NAV (17/08/2017)
297.23 EUR
Christophe  FOLIOT–LU1103305295–
Christophe FOLIOT
Adeline SALAT-BAROUX–LU1103305295–
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
297.23 EUR
Change in NAV (17/08/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (17/08/2017)
297.23 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 31/07/2017

US equity markets climbed in dollar terms, in an economic climate currently dominated by the publication of corporate earnings reports. GDP reached 2.6% year-on-year for the second quarter, on first estimate. The confidence levels at small and medium enterprises, as well as business indicators such as manufacturing and non-manufacturing ISM, were very high. The Trump Administration's indecisive vacillation no longer has any impact on the markets, which do not anticipate any action on the part of the president during his mandate. So far, the seasonal corporate reports have mostly proved very encouraging, with aggregate sales growth at 6%, and profits at 8%, for the companies that have published so far. Johnson Controls' -10% drop in the period following publication of its mixed results, and Whirlpool's -7% slide contributed to the fund's negative performance over the period. But this has not put our investment case on either of these companies into doubt. There were no movements within the portfolio in July. The current structure of the fund seems well-adapted to the market scenario that we are anticipating: Namely, that the growth observed so far — while not excessive — will continue and soon produce a reduction in the extreme valuation differences between cyclical and non-cyclical values.

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Change in NAV

Chart – Base 100 (17/08/2017)
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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 K-EUR Cumulative Annualised
Since 01/01/2017

-12.62 %

-1.62 %

-12.62 %

-1.62 %

1 Year

1.99 %

8.49 %

1.99 %

8.49 %

3 Year

21.41 %

48.08 %

6.66 %

13.93 %

5 year

70.56 %

91.96 %

11.26 %

13.92 %

Since inception

197.23 %

235.88 %

13.49 %

15.11 %

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

Share class (K-EUR)

Benchmark

-12.62 %

-1.62 %

1.99 %

8.49 %

21.41 %

48.08 %

70.56 %

91.96 %

197.23 %

235.88 %

Annualised

Share class (K-EUR)

Benchmark

1.99 %

8.49 %

6.66 %

13.93 %

11.26 %

13.92 %

13.49 %

15.11 %

*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*15.50 %12.64 %6.90 %0.90 %-0.30 %0.65 %
3 Year *16.94 %12.62 %8.91 %0.86 %-0.73 %1.20 %
Max. drawdownAlphaBeta
Share class K-EURBenchmarkShare class K-EURBenchmarkShare class K-EURBenchmark
1 Year*-13.06 %-0.04 %1.10 %
3 Year *-35.84 %-0.62 %1.15 %
Max. monthly gain Since inception29.62 %
Max. monthly loss Since inception-22.48 %
Share class K-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 15.50 % 16.94 % 12.64 % 12.62 %
Tracking Error 6.90 % 8.91 %
Sharpe ratio 0.65 % 1.20 %
Alpha -0.04 % -0.62 %
Correlation coefficient 0.90 % 0.86 %
Information ratio -0.30 % -0.73 %
Max. monthly loss -22.48 %
Max. monthly gain 29.62 %
Max. drawdown -13.06 % -35.84 %
Beta 1.10 % 1.15 %

Fund information

Inception Date (Fund)
28/12/2000
Inception Date (Part)
09/01/2009
Legal form
SICAV
Benchmark
S&P 500 (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
LU1103305295
AuM (fund)
856 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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