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 Geosphere Natural Resources

Natural Resources
Change in NAV (21/02/2018)
124.76 EUR
Emmanuel  PAINCHAULT–FR0010127522–
Emmanuel PAINCHAULT
Pierre PEDROSA–FR0010127522–
Pierre PEDROSA
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
124.76 EUR
Change in NAV (21/02/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (21/02/2018)
124.76 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Emmanuel PAINCHAULT  
Pierre PEDROSA  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Fund's investment objective, over a recommended investment period of more than five years, is to outperform its benchmark index, with exposure to commodity and energy-linked stocks.

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Commentary 31/01/2018

Oil rose modestly in January (+3% for Brent at $69/bbl, and +7% for WTI at $65/bbl). The pipeline incidents (North Sea, Libya) and the cold wave in the US that had fuelled the spike the previous month were resolved. However, the decline in reserves has continued, and the Opec countries are maintaining discipline in restricting their production. Oil prices, nickel (+7%), zinc (+8% to reach a 10-year high), iron ore (+9%) and gold (+3%) were also helped by the weakness of the USD. Uncertainties over US willingness to run a weak dollar, together with the risk of its possible exit from Nafta will continue to fuel volatility on exchange rates and commodity prices. The latest meeting of the Fed's FOMC also showed an increase in inflationary pressures. This is a plus for commodities and especially gold, and, for the latter, offsets the negative impact linked to the rise in US Treasury bond yields. At the sector level, the increase remains below the performance of the underlying assets and that of equity markets in general, which continue to be driven by the healthcare and technology sectors. The MSCI World Energy index fell by -0.4% (in euros) while the MSCI World Materials rose by +1.6%. The best performance in the sub-sectors comes from Mining & Metals companies, while the worst is from Oil & Gas E-P companies. The fund was particularly affected by the correction to lithium companies (Albemarle, Galaxy Resources), while SQM, the second largest lithium producer in the world, has been authorised by the Chilean regulator to step up its production in the coming years. The market fears a drop in lithium prices, but demand is expected to remain higher than supply. European Cobalt Limited (cobalt) and Syrah Resources (graphite) were caught in the correction dealt to the eMaterials sector. Good performances by Anadarko, ArcelorMittal, and our other positions in mining and energy were not enough to compensate. Today's synchronised growth environment between the economies remains positive for commodities.

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Change in NAV

Chart – Base 100 (21/02/2018)
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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 C-EUR Cumulative Annualised
Since 01/01/2018

-8.14 %

-6.19 %

-8.14 %

-6.19 %

1 Year

-17.72 %

-6.92 %

-17.72 %

-6.92 %

3 Year

-15.20 %

-1.27 %

-5.34 %

-0.42 %

5 year

-18.10 %

12.81 %

-3.91 %

2.44 %

Since inception

24.76 %

84.24 %

1.68 %

4.72 %

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

Share class (C-EUR)

Benchmark

-8.14 %

-6.19 %

-17.72 %

-6.92 %

-15.20 %

-1.27 %

-18.10 %

12.81 %

24.76 %

84.24 %

Annualised

Share class (C-EUR)

Benchmark

-17.72 %

-6.92 %

-5.34 %

-0.42 %

-3.91 %

2.44 %

1.68 %

4.72 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class C-EURBenchmarkShare class C-EURBenchmarkShare class C-EURBenchmarkShare class C-EURBenchmarkShare class C-EURBenchmark
1 Year*16.29 %10.68 %8.71 %0.87 %-1.16 %0.13 %
3 Year *19.89 %16.30 %7.00 %0.94 %-0.69 %0.25 %
Max. drawdownAlphaBeta
Share class C-EURBenchmarkShare class C-EURBenchmarkShare class C-EURBenchmark
1 Year*-22.37 %-0.20 %1.33 %
3 Year *-45.08 %-0.41 %1.15 %
Max. monthly gain Since inception12.67 %
Max. monthly loss Since inception-15.78 %
Share class C-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 16.29 % 19.89 % 10.68 % 16.30 %
Tracking Error 8.71 % 7.00 %
Sharpe ratio 0.13 % 0.25 %
Alpha -0.20 % -0.41 %
Correlation coefficient 0.87 % 0.94 %
Information ratio -1.16 % -0.69 %
Max. monthly loss -15.78 %
Max. monthly gain 12.67 %
Max. drawdown -22.37 % -45.08 %
Beta 1.33 % 1.15 %

Fund information

Inception Date (Fund)
22/11/2004
Inception Date (Part)
22/11/2004
Legal form
Mutual Fund
Benchmark
60% MSCI World Energy (NR)
40% MSCI World Materials (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010127522
AuM (fund)
14 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
2,000 %
Current management fee
2.000 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % max
Performance fee
15,000 %

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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