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 (08/12/2017)
77.86 EUR
Emmanuel  PAINCHAULT–FR0011891357–
Emmanuel PAINCHAULT
Pierre PEDROSA–FR0011891357–
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
77.86 EUR
Change in NAV (08/12/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (08/12/2017)
77.86 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 30/11/2017

The month-end saw a meeting between the OPEC and non-OPEC countries that are participating in the cut on production capacity. Members highlighted the progress made in reducing oil inventories, and the efforts still needed to get them back in line with the 5 years average. These countries have accordingly agreed to continue their efforts for the whole of 2018. In its current state, the market environment calls for prices ranging from $55 to $60/bbl for Brent crude. Oil prices climbed +3% for Brent over the month and nearly +6% for WTI. Metals came under more pressure, with a -3% drop on the LME index (mainly for aluminium and nickel) explained by a more uncertain environment over the month, especially in China (with its industrial production, Manufacturing PMI, etc). Part of the slowdown may, however, be linked to the slowdown in the economy during the Communist Party Congress. The manufacturing PMI index for November is accordingly showing a recovery. Gold price has stabilised at $1275/oz. At the sector level, the market was relatively flat this month. Note the rise posted by Exploration & Production (E&P) companies, which are starting to react to the increase in oil prices. The energy and basic materials sectors, however, were slightly down in euros over the month. The fund modestly outperformed its benchmark, thanks in part to the good performance posted by E&Ps (Continental, Pioneer) and by Patterson in the oil services industry. But it was above all the companies linked to New Materials (cobalt, lithium), that contributed the most (Galaxy, Orocobre Syrah, CleanTeq). Lundin Mining's significant underperformance (-25%) weighted on the fund's outperformance. The company downgraded its medium-term growth guidance. The market's reaction has, however, been excessive. So we have strengthened our position on this key player in the copper industry. Meanwhile, we sold Suncor and Torc O&G following their recent performance and also to strengthen the portfolio's investments in its New Materials sector. A significant cash reserve has been maintained to cope with the sector's greater volatility.

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Change in NAV

Chart – Base 100 (08/12/2017)
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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 E-EUR Cumulative Annualised
Since 01/01/2017

-11.67 %

-2.21 %

-11.67 %

-2.21 %

1 Year

-13.80 %

-2.12 %

-13.80 %

-2.12 %

3 Year

-3.84 %

15.73 %

-1.30 %

4.99 %

Since inception

-22.14 %

5.49 %

-6.94 %

1.55 %

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

Share class (E-EUR)

Benchmark

-11.67 %

-2.21 %

-13.80 %

-2.12 %

-3.84 %

15.73 %

-22.14 %

5.49 %

Annualised

Share class (E-EUR)

Benchmark

-13.80 %

-2.12 %

-1.30 %

4.99 %

-6.94 %

1.55 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class E-EURBenchmarkShare class E-EURBenchmarkShare class E-EURBenchmarkShare class E-EURBenchmarkShare class E-EURBenchmark
1 Year*15.57 %10.27 %8.55 %0.86 %-1.18 %0.01 %
3 Year *19.73 %16.30 %7.24 %0.94 %-0.85 %0.28 %
Max. drawdownAlphaBeta
Share class E-EURBenchmarkShare class E-EURBenchmarkShare class E-EURBenchmark
1 Year*-22.40 %-0.19 %1.31 %
3 Year *-45.25 %-0.52 %1.13 %
Max. monthly gain Since inception15.82 %
Max. monthly loss Since inception-18.23 %
Share class E-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 15.57 % 19.73 % 10.27 % 16.30 %
Tracking Error 8.55 % 7.24 %
Sharpe ratio 0.01 % 0.28 %
Alpha -0.19 % -0.52 %
Correlation coefficient 0.86 % 0.94 %
Information ratio -1.18 % -0.85 %
Max. monthly loss -18.23 %
Max. monthly gain 15.82 %
Max. drawdown -22.40 % -45.25 %
Beta 1.31 % 1.13 %

Fund information

Inception Date (Fund)
22/11/2004
Inception Date (Part)
17/06/2014
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
FR0011891357
AuM (fund)
23 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
2,400 %
Current management fee
2.400 %
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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