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 Multi Alternatif Equilibre Euro Multi-strategy

Multi-strategy
Change in NAV (31/08/2018)
14,261.03 EUR
Félix-Antoine  LAURIN–FR0010231613–
Félix-Antoine LAURIN
Pierre-Olivier MASMEJEAN–FR0010231613–
Pierre-Olivier MASMEJEAN
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
> 2 years
14,261.03 EUR
Change in NAV (31/08/2018)
3
1234567
Risk and reward profile
> 2 years
Recommended holding period
Change in NAV (31/08/2018)
14,261.03 EUR
Risk and reward profile
1234567
Recommended holding period
> 2 years
Félix-Antoine LAURIN  
Pierre-Olivier MASMEJEAN  
The identity of the managers presented in this document may change during the life of the product.
Contact

Commentary 28/02/2018

In her last speech as Chair of the Federal Reserve, Janet Yellen estimated that inflation would accelerate this year, while further rate hikes have been mentioned leading to pressure on interest rates. In Europe, this pressure reflects a change in investor perception, following the ECB's less accommodating tone, and an expectation that QE will come to an end next year. While the stock market correction that followed was triggered by the publication of monthly statistics on the US labour market (with wages climbing further than expected), the correction has been amplified by various technical phenomena, including the number of short positions on VIX contracts. Next, the publication of a higher-than-expected CPI has troubled investors. Disappointing January retail sales data and the widening US budget deficit (with the announcement of an infrastructure spending plan), has impacted the dollar heavily. At the month end, the Fed's new chairman, Jerome Powell, gave an optimistic view of the US economy and his confidence regarding inflation — which raised speculation of a fourth rate hike in 2018. In the euro zone, Q4 GDP performance in Germany and Italy (+2.9% and +1.6% respectively y-on-y) confirmed that growth has accelerated and become more widespread. Rising levels of investment are, in this respect, a strong indicator of the cycle's quality and durability. The strength of corporate reporting has also reinforced our positive take on European equities: we can see that growth in cyclical stocks has outperformed defensives. In the run-up to the Italian elections and the SPD's vote in Germany on whether to participate in a grand coalition government, the markets showed little anxiety. Within the Europe Midcaps portfolio, we have initiated a position on Edenred, which is recovering from a hike in inflation on the face value of its vouchers, and in Sophos Plc, a cyber-security provider targeting SMEs. Meanwhile, we have sold AA Plc in the wake of its new investment and revitalisation plan, which will reduce profitability over the next two years or even three, and whose potential for success seems somewhat unconvincing to us.

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Change in NAV

Chart – Base 100 (31/08/2018)
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 I-EUR Cumulative Annualised

-1.07 %

-0.36 %

-1.65 %

-0.33 %

0.57 %

-0.18 %

Since inception

42.61 %

25.08 %

2.14 %

1.34 %

Since 01/01/2018 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (I-EUR)

Benchmark

42.61 %

25.08 %

Annualised

Share class (I-EUR)

Benchmark

-1.07 %

-0.36 %

-1.65 %

-0.33 %

0.57 %

-0.18 %

2.14 %

1.34 %

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
23/11/2001
Inception Date (Part)
23/11/2001
Legal form
Mutual Fund
Benchmark
EONIA Capitalise (EUR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Bi-Monthly
Minimum initial investment
100000.00 EUR
ISIN Code
FR0010231613
AuM (fund)
7 M (EUR)
Regulatory authority
AMF
EU Regulation
AIFM
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
Edmond de Rothschild (Suisse) S.A.
Incorporation
France
Maximum management fee
0,020 %
Current management fee
0.020 %
Subscription fee
4.50 % max

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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