Edmond de Rothschild

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This site provides extensive information about the ranges of Edmond de Rothschild Group funds. In particular, it provides simplified access to key fund-related data (performance, net asset values, features) and their commercial or legal documents.

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EdR Fund US Value US equities

US equities
Change in NAV (14/06/2018)
113.99 EUR
Christophe  FOLIOT–LU1781815219–
Christophe FOLIOT
Adeline SALAT-BAROUX–LU1781815219–
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
113.99 EUR
Change in NAV (14/06/2018)
3
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (14/06/2018)
113.99 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 31/05/2018

Canadian aircraft maker Bombardier has announced the surprise certification of two new business jets, with letters of intent from Asian customers, as well as new orders for its CSeries jet airliners. Airbus's stake in the CSeries is expected to be finalised for the summer, together with implementation of its transformation plan, established in 2015, which has helped the stock to rebound very strongly since the beginning of the year. In the healthcare sector, a position was initiated on CVS, a leader in medical prescription and drug distribution. The stock suffered excessively from fears related to Amazon's entry into distribution. CVS has been pursuing a vertical integration strategy with its takeover bid for the healthcare insurer Aetna. The company is accelerating its transformation with the deployment of its MinuteClinic rapid care centres, across its pharmacy network. EdR US Value's relative performance was penalised by the underperformance of financial stocks and a sharp rebound for technology stocks in May. This return to grace reflects good choices in investment spending but also a lack of faith in more traditional sectors of the US economy. We made a few changes to the portfolio, reducing the stake in oil E&P stocks and initiating a position on National Oilwell — whose business is sensitive to the pick-up in investment spending by energy companies. The energy sector was the leading contributor to performance in May. Major E&P stocks posted encouraging results, reaffirming their discipline on capital expenditure and focus on shareholder returns. The energy sector has also been the leading contributor since the beginning of the year. Meanwhile, despite the rise in long-term rates, performance spreads between Growth and Value styles have continued to widen (to 800 bps at May's end) and the revaluation potential for our portfolio convictions remains intact.

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Change in NAV

Chart – Base 100 (14/06/2018)
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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 CR-EUR Cumulative Annualised

Since inception

13.99 %

12.47 %

Since 01/01/2018 1 Year 3 Year 5 year Since inception
Cumulative

Share class (CR-EUR)

Benchmark

13.99 %

12.47 %

Annualised

Share class (CR-EUR)

Benchmark

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
28/12/2000
Inception Date (Part)
03/04/2018
Legal form
SICAV
Benchmark
S&P 500 (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
LU1781815219
AuM (fund)
829 M (EUR)
Regulatory authority
CSSF
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
Subscription fee
3.00 % 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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