Edmond de Rothschild

Welcome to our Fund Center

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.

Please enter your country and indicate which investor category you belong to:
Mobile Logo

EdR India Emerging equities

Emerging equities
Change in NAV (21/11/2017)
172.27 EUR
Ludovic  VAUTHIER–FR0010594309–
Ludovic VAUTHIER
Patricia URBANO–FR0010594309–
Patricia URBANO
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
172.27 EUR
Change in NAV (21/11/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (21/11/2017)
172.27 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Ludovic VAUTHIER  
Patricia URBANO  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

Over a recommended investment period of more than five years, the UCITS is managed with the aim of achieving net asset value growth by investing in companies in the Indian subcontinent (essentially India, but also Pakistan, Sri Lanka and Bangladesh), in accordance with selection criteria described in the investment strategy.

View more View less

Commentary 31/10/2017

The Indian Government has announced a $32 billion recapitalisation for public banks. This took us by surprise as, concerned at the state of the balance sheets of public sector banks (not those in the private sector), we had reduced our exposure to the sector early this month. This recapitalisation is excellent news as the total amount of non-performing and restructured loans came $84 billion, with only €42 billion provisioned. So this recapitalisation should steer the country clear of a banking crisis. Among the companies that have already published their results, average earnings growth remains moderate at 7%, in line with expectations. In the banking sector, results were mixed. As usual, the good performers include HDFC Bank (+25%), and Yes Bank — though the latter's 25% earnings growth is more controversial since the bank has not followed the RBI's policy recommendations on its non-performing loans. Icici Bank saw its results falling by 34% due to a higher provisioning rate. As for HDFC (mortgage finance company), its results climbed 17%. In the consumer sector, earnings were also mixed. The automotive sector's Maruti posted 21% growth in Ebitda, but just 4% in net profits, mainly because of higher tax rates. Among the high-performing consumer staples companies were Unilever (+16.5%), which has benefited from its premiumization strategy, and Godrej (+13%). Dabur (+1%) and ITC (+6%) are still struggling. In Telecoms, Bharti, after suffering damage in a fierce price war launched by Reliance Jio, saw its earnings fall by 77%. However, by acquiring Tata's mobile business, and on news of a probable Reliance Communications' shut-down, the sector is consolidating between three top players. That's why we bought Bharti. We sold our position on Future Retail to raise exposure to Avenue Supermarts, also in the distribution sector. While the recapitalisation of Indian public banks is excellent news, we remain sceptical about earnings growth among Indian companies in the near term, prompting us to remain somewhat cautious.

View more View less

Change in NAV

Chart – Base 100 (21/11/2017)
Avertissement
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

25.11 %

19.24 %

25.11 %

19.24 %

1 Year

30.80 %

25.34 %

30.80 %

25.34 %

3 Year

23.36 %

23.12 %

7.24 %

7.17 %

5 year

72.60 %

69.81 %

11.53 %

11.16 %

Since inception

72.27 %

70.63 %

5.82 %

5.72 %

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

Share class (E-EUR)

Benchmark

25.11 %

19.24 %

30.80 %

25.34 %

23.36 %

23.12 %

72.60 %

69.81 %

72.27 %

70.63 %

Annualised

Share class (E-EUR)

Benchmark

30.80 %

25.34 %

7.24 %

7.17 %

11.53 %

11.16 %

5.82 %

5.72 %

*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*15.69 %15.59 %5.07 %0.95 %-0.01 %1.38 %
3 Year *18.02 %18.09 %5.11 %0.96 %0.07 %0.47 %
Max. drawdownAlphaBeta
Share class E-EURBenchmarkShare class E-EURBenchmarkShare class E-EURBenchmark
1 Year*-9.04 %0.02 %0.95 %
3 Year *-32.08 %0.06 %0.96 %
Max. monthly gain Since inception28.40 %
Max. monthly loss Since inception-30.31 %
Share class E-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 15.69 % 18.02 % 15.59 % 18.09 %
Tracking Error 5.07 % 5.11 %
Sharpe ratio 1.38 % 0.47 %
Alpha 0.02 % 0.06 %
Correlation coefficient 0.95 % 0.96 %
Information ratio -0.01 % 0.07 %
Max. monthly loss -30.31 %
Max. monthly gain 28.40 %
Max. drawdown -9.04 % -32.08 %
Beta 0.95 % 0.96 %

Fund information

Inception Date (Fund)
09/02/2005
Inception Date (Part)
14/04/2008
Legal form
Mutual Fund
Benchmark
MSCI India (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010594309
AuM (fund)
121 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 9.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % max
Performance fee
15,000 %

Fund documentation

Select all

(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.

Top