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EdR Fund US Value & Yield US equities

US equities
Change in NAV (18/07/2017)
139.92 USD
Christophe  FOLIOT–LU1170683665–
Christophe FOLIOT
Adeline SALAT-BAROUX–LU1170683665–
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
139.92 USD
Change in NAV (18/07/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (18/07/2017)
139.92 USD
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 30/06/2017

US equity markets flat-lined in June, following steady gains in recent months. The US Federal Reserve reiterated its encouraging position on the state of the US economy and hiked its key rates by 25 bps, though without closing the door on other measures, in particular to reduce its balance sheet. The bond markets reacted to these announcements, sparking an upturn — in the knowledge that the year's low had been reached on June 14 — with US Treasury bonds trading at 2.13%. This is a level that, we believe, does not at all reflect the course of either of the Fed or the US economy. Looking at signals for the economy, there is no particular sign of a shift. Corporate confidence indicators and ISMs remain robust, though orders for durable goods were slightly below expectations, marking a slight dip. The fund outperformed its benchmark over the period, ending several months of occasional underperformance. In the telecom sector we strengthened Verizon following a sharp decline in the industry on concerns over a Sprint-Comcast merger. In the technology sector we sold ON Semiconductor, while also exiting Louisiana Pacific in the wake of its very positive equity market performance and achievement of our stock price targets. The slight shift in favour of discounted and cyclical stocks during the month could mark the turning point we have been waiting for, which could lead to readjustment of the market based on corporate fundamentals.

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Change in NAV

Chart – Base 100 (18/07/2017)
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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 N-USD Cumulative Annualised
Since 01/01/2017

0.76 %

10.75 %

0.76 %

10.75 %

1 Year

12.96 %

15.22 %

12.96 %

15.22 %

Since inception

39.92 %

30.98 %

26.88 %

21.08 %

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

Share class (N-USD)

Benchmark

0.76 %

10.75 %

12.96 %

15.22 %

39.92 %

30.98 %

Annualised

Share class (N-USD)

Benchmark

12.96 %

15.22 %

26.88 %

21.08 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class N-USDBenchmarkShare class N-USDBenchmarkShare class N-USDBenchmarkShare class N-USDBenchmarkShare class N-USDBenchmark
1 Year*11.90 %8.05 %7.32 %0.79 %0.05 %2.03 %
3 Year *
Max. drawdownAlphaBeta
Share class N-USDBenchmarkShare class N-USDBenchmarkShare class N-USDBenchmark
1 Year*-7.12 %-0.04 %1.17 %
3 Year *
Max. monthly gain Since inception11.20 %
Max. monthly loss Since inception-7.71 %
Share class N-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 11.90 % 8.05 %
Tracking Error 7.32 %
Sharpe ratio 2.03 %
Alpha -0.04 %
Correlation coefficient 0.79 %
Information ratio 0.05 %
Max. monthly loss -7.71 %
Max. monthly gain 11.20 %
Max. drawdown -7.12 %
Beta 1.17 %

Fund information

Inception Date (Fund)
28/12/2000
Inception Date (Part)
19/02/2016
Legal form
SICAV
Benchmark
S&P 500 (NR)
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
5000000.00 USD EQ EUR
ISIN Code
LU1170683665
AuM (fund)
885 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
0,550 %
Current management fee
0.550 %
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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