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 Japan Japan equities

Japan equities
Change in NAV (21/02/2018)
112.84 EUR
Takahiro  UEMURA (SMAM)–FR0012799773–
Takahiro UEMURA (SMAM)
Takashi SHIMODAIRA(ProductSpecialist)(SMAM)–FR0012799773–
Takashi SHIMODAIRA(ProductSpecialist)(SMAM)
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
112.84 EUR
Change in NAV (21/02/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (21/02/2018)
112.84 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Takahiro UEMURA (SMAM)  
Takashi SHIMODAIRA(ProductSpecialist)(SMAM)  
The identity of the managers presented in this document may change during the life of the product.
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Investment objective

The UCITS' investment objective is to outperform the TOPIX Net Total Return Index over the recommended investment period of 5 years.

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Commentary 31/01/2018

In the beginning of the month, the Japan stock market started with a big advance on the back of favorable market sentiment in expectation for robust growth in the world economy. In the middle of the month, under cautious mood with Nikkei 225 staying at a year high level, the market turned to soften as a result of USD weakness (JPY appreciation versus USD) triggered by US Treasury Secretary, Steven Mnuchin's remarks suggesting an approval of weaker US dollar. Investors' growing profit-taking activities by selling well-performing external demand-oriented stocks gave negative pressure on the market. Ahead of renewing the year-to-date high, the market was up and down hovering within a boxed range, partly supported by BOJ's purchases of ETFs at oversold levels. At the month end, the market was dominated by net sellers upon (a) correction of US and European stock markets, (b)the negative news reporting Apple's plan to adjust its production volume of iPhone X for the months of January to March 2018, (c) less-than-expected earnings of major semiconductor production enterprises such as Tokyo Electron for October to December 2017, and (d) an unveiled issue of illegal asset outflow out of one of the major crypto currency exchange, Coincheck. For sector performance, top performing sectors in this month include (a)Game (led by Nintendo which was enjoying favorable sales of its popular game kit, SWITCH), (b) Machine Tools & Bearings (in expectation for taking benefits from China's modernization of its industrial structure), (c)Securities (stock prices of small-and-mid cap stock-oriented brokers rose in favor of recent increase in turnovers on the back of a rise in Nikkei 225 index). On the other hand, the worst performing sectors include (a) Iron & Steel (softened upon JPY appreciation), (b) Media (disappointed by continuously diminishing demand for conventional advertisements on TV commercial message and shift to alternative advertisements on internet especially in cosmetics and health-supporting food producer clients), (c) Construction (delay in progress of construction operation due to heavier snowfall than usual year).

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Change in NAV

Chart – Base 100 (21/02/2018)
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Performance CH-EUR Cumulative Annualised

Since inception

12.84 %

11.31 %

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

Share class (CH-EUR)

Benchmark

12.84 %

11.31 %

Annualised

Share class (CH-EUR)

Benchmark

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
30/12/2010
Inception Date (Part)
07/06/2017
Legal form
Mutual Fund
Benchmark
TOPIX Net Total Return
Currency (fund)
JPY
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0012799773
AuM (fund)
22,827 M (JPY)
Regulatory authority
AMF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
Sumitomo
Incorporation
France
Maximum management fee
2,000 %
Current management fee
2.000 %
Subscription and redemption conditions
Daily before 4.30 pm C.E.T.on next 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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