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EdR Monde Flexible Flexible strategies

Flexible strategies
Change in NAV (14/08/2017)
285.10 EUR
Michael  NIZARD–FR0007023692–
Michael NIZARD
Benjamin MELMAN–FR0007023692–
Benjamin MELMAN
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
3 years
285.10 EUR
Change in NAV (14/08/2017)
4
1234567
Risk and reward profile
3 years
Recommended holding period
Change in NAV (14/08/2017)
285.10 EUR
Risk and reward profile
1234567
Recommended holding period
3 years
Michael NIZARD  
Benjamin MELMAN  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The UCITS' objective, over its recommended investment period, is to invest in bullish international equity markets whilst still adapting to any market downturns. To do this, the UCITS will rely on managing the equity risk by using hedging strategies, based on the discretionary management of geographical and thematic allocation, and on the opportunistic management of exposure to the interest rate and currency markets.

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Commentary 31/07/2017

July saw currency fluctuations, particularly on the euro, which broke the 1.15 €/$ ceiling, a limit rarely exceeded since the euro fell sharply in 2014. The ECB's meeting on July 20 did not reverse this trend, even though Mario Draghi was more accommodating than in his last speech, in Sintra, at June's end. Economic improvement in the euro zone, confirmed by the purchasing manager indices (PMI), which are still at historically high levels, explain this movement. As do more moderate expectations of a rate hike by the US Federal Reserve, plus the difficulties encountered by the Trump Administration. The euro's 3.6% gain against the US dollar had an impact on European equities, wiping out the gains made at the beginning of the month, with stocks ending down -0.3% (DJStoxx 600 in EUR). On the other hand, US equities benefited from dollar's weakening to gain 2% (S&P 500). The reporting season has begun with results coming out from mid-July. It has been rather good so far, but not exceptional, with an expected gain of 7% over the year on both sides of the Atlantic, but with an encouraging proportion of positive surprises in corporate sales. After a significant hike in interest rates in the last days of June, the trend slowed down in the wake of the ECB's meeting. So in July, growth on Germany's 10-year bund was contained (+7 bps), while the spread with rates in peripheral countries narrowed. Short-term rates have decreased further, thereby steepening the yield curve. The picture was similar in the United States, with long term rates stabilising while short rates fell.

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Change in NAV

Chart – Base 100 (14/08/2017)
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 A-EUR Cumulative Annualised
Since 01/01/2017

3.99 %

3.99 %

1 Year

7.72 %

7.68 %

3 Year

14.88 %

4.73 %

5 year

33.24 %

5.90 %

Since inception

87.01 %

3.36 %

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

Share class (A-EUR)

Benchmark

3.99 %

7.72 %

14.88 %

33.24 %

87.01 %

Annualised

Share class (A-EUR)

Benchmark

7.68 %

4.73 %

5.90 %

3.36 %

*Rolling periods

Annual performance



Statistics

VolatilityMax. drawdown
Share class A-EURBenchmarkShare class A-EURBenchmark
1 Year*4.79 %-2.38 %
3 Year *7.48 %-16.83 %
Max. monthly gain Since inception12.71 %
Max. monthly loss Since inception-23.55 %
Share class A-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 4.79 % 7.48 %
Tracking Error
Max. monthly loss -23.55 %
Max. monthly gain 12.71 %
Max. drawdown -2.38 % -16.83 %

Fund information

Inception Date (Fund)
01/09/1998
Inception Date (Part)
01/09/1998
Legal form
Mutual Fund
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0007023692
AuM (fund)
29 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 10.00 am C.E.T. on day's net asset value
Subscription fee
2.00 % 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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