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 Goldsphere Gold & Precious Metals

Gold & Precious Metals
Change in NAV (15/06/2018)
57.36 USD
Emmanuel  PAINCHAULT–FR0010657890–
Emmanuel PAINCHAULT
Pierre PEDROSA–FR0010657890–
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
57.36 USD
Change in NAV (15/06/2018)
7
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (15/06/2018)
57.36 USD
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 UCITS' objective, over a recommended investment period of more than 5 years, is to outperform the benchmark index, the FTSE Gold Mines Price Index, by selecting securities, on a discretionary basis, predominantly in the gold sector and linked to the exploration, extraction, transformation and/or marketing of gold.

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Commentary 31/05/2018

Geopolitical risk levels were running high in May. Most notable was the decision by the US Administration to withdraw from the nuclear deal with Iran. This event is inflationary in that it helps to keep oil prices high. Other events, between the political stalemate in Italy and Donald Trump's changing position on the possibility of a meeting with North Korean leader Kim Jong-un, have had a more limited impact on the gold price. The environment nevertheless argues for a certain degree of risk aversion, reflected by a +3.7% hike in the USD, and accentuated on the euro due to the situation in Italy. Measured on the DXY, the rise in the USD is better contained at +2.3%. The latest FOMC also confirmed the likelihood of another rate hike of +25 bps in June, and remains confident about reaching its medium-term inflation target. Between the bearish elements (USD gains, and the Federal Reserve), and the bullish (oil prices, geopolitics), the price of gold remained relatively stable, falling by -1.3% in USD and rising by +2.4% in euros. The gold mining sector outperformed gold prices, falling -0.5% in USD and up +2.98% in euros. The fund has moved exactly in-line with its benchmark. The companies that contributed positively to performance were Agnico Eagle (posting growth and free cash-flows), Kirkland Lake (strong production growth, which could reach 620k oz in 2018 and 1m oz over the long term), Goldcorp (strong generation of free cash-flows to come), Alacer (significant revaluation still ahead with the upcoming start to its sulphides project), and RoxGold (raised expectations for this year after an excellent Q1). Meanwhile, Kinross (tax hike risk in Mauritania), Semafo (operating costs above expectations for Q1) and TMAC Resources (recovery rates still limited) were the main negative contributors. We have initiated a new position on Atlantic Gold, a rising producer present in Nova Scotia, Canada, with management that is highly cost-focused.

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Change in NAV

Chart – Base 100 (15/06/2018)
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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 A-USD Cumulative Annualised
Since 01/01/2018

-9.75 %

-6.66 %

-9.75 %

-6.66 %

1 Year

-7.29 %

-2.56 %

-7.29 %

-2.56 %

3 Year

8.93 %

25.50 %

2.89 %

7.86 %

5 year

-24.28 %

-15.61 %

-5.40 %

-3.33 %

Since inception

-42.64 %

-38.06 %

-5.56 %

-4.81 %

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

Share class (A-USD)

Benchmark

-9.75 %

-6.66 %

-7.29 %

-2.56 %

8.93 %

25.50 %

-24.28 %

-15.61 %

-42.64 %

-38.06 %

Annualised

Share class (A-USD)

Benchmark

-7.29 %

-2.56 %

2.89 %

7.86 %

-5.40 %

-3.33 %

-5.56 %

-4.81 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmark
1 Year*21.03 %21.65 %5.34 %0.97 %-0.94 %-0.26 %
3 Year *36.50 %39.39 %6.23 %0.99 %-0.69 %0.14 %
Max. drawdownAlphaBeta
Share class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmark
1 Year*-19.09 %-0.11 %0.94 %
3 Year *-37.55 %-0.34 %0.92 %
Max. monthly gain Since inception54.63 %
Max. monthly loss Since inception-34.15 %
Share class A-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 21.03 % 36.50 % 21.65 % 39.39 %
Tracking Error 5.34 % 6.23 %
Sharpe ratio -0.26 % 0.14 %
Alpha -0.11 % -0.34 %
Correlation coefficient 0.97 % 0.99 %
Information ratio -0.94 % -0.69 %
Max. monthly loss -34.15 %
Max. monthly gain 54.63 %
Max. drawdown -19.09 % -37.55 %
Beta 0.94 % 0.92 %

Fund information

Inception Date (Fund)
30/09/2008
Inception Date (Part)
30/09/2008
Legal form
Mutual Fund
Benchmark
FTSE Gold Mines Index (NR)
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010657890
AuM (fund)
28 M (USD)
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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