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 India Emerging equities

Emerging equities
Change in NAV (16/08/2018)
100.05 EUR
Ludovic  VAUTHIER–FR0013307402–
Ludovic VAUTHIER
Patricia URBANO–FR0013307402–
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
100.05 EUR
Change in NAV (16/08/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (16/08/2018)
100.05 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.

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Commentary 30/06/2018

India's industrial growth has rebounded, climbing +4.9% by the end of April 2018. Inflation, too, has continued to rise, reaching 4.9%, in line with expectations, while core inflation has even hit 6.2%. This is one of the main reasons the Reserve Bank of India raised its key rate by 25 bps after an 11-month freeze. The trade deficit climbed to $14.7 billion USD in May, which is not surprising given the rise in crude oil prices. For the moment, the rupee is holding steady against the USD, down only 1.5% in June despite foreign investors drawing €650 million USD from the country. Within the portfolio, we have taken a more defensive position by increasing our cash flow — through reduced exposure to industrials (Larsen, Bharat Electronics) and consumer discretionaries (Maruti, Eicher) — in favour of consumer staples (Britannia) and IT services (Infosys). We also took some of our profits on Avenue Supermarts to initiate a small position on V-Mart (retail clothing distributor). Over the next few months, we will remain cautious on the Indian market due to the weak capex, mild inflationary pressures, and high oil prices that could put pressure on the rupee. The consequences of a potential trade war seem, for the moment, quite limited, since the Indian economy is essentially a domestic affair

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Fund information

Inception Date (Fund)
09/02/2005
Inception Date (Part)
11/01/2018
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
FR0013307402
AuM (fund)
106 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
1,700 %
Current management fee
1.700 %
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

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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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