Edmond de Rothschild

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Edmond de Rothschild Precious Metals Fund - EdR (Edmond de Rothschild) physical gold & overlay Gold & Precious Metals

Gold & Precious Metals
Change in NAV (15/08/2018)
944.67 USD
Benjamin  DUBOIS–CH0246173667–
Benjamin DUBOIS
Alban GOULLETQUER–CH0246173667–
Alban GOULLETQUER
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
944.67 USD
Change in NAV (15/08/2018)
6
1234567
Risk and reward profile
Recommended holding period
Change in NAV (15/08/2018)
944.67 USD
Risk and reward profile
1234567
Recommended holding period
Benjamin DUBOIS  
Alban GOULLETQUER  
The identity of the managers presented in this document may change during the life of the product.
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Investment objective

The Fund's objective is to achieve a long term performance comparable to or above the returns of physical gold while reducing the price volatility of gold through a dynamic hedging programme that allows the fund to profit from price appreciation and limits the impact of drawdowns.

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Commentary 31/07/2018

After an initial climb in gold's price, the yellow metal traded broadly lower for the remainder of the month. A decline in US Treasury yields boosted USD-denominated gold as signs of a potential recession hit the market. Needless to say, robust consumer and producer inflation reports in the US later supported two more rate hikes in the US. Furthermore, the threat of additional tariffs on Chinese goods to the order of $200 billion increased demand for the US dollar as a safe haven asset. Pressure continued on the precious metal following a hawkish statement by Fed Chair Powell at the Congressional Testimony. However, a series of tweets by President Trump helped gold to recover some of its losses. Trump tweeted his disappointment with the Fed's rising interest rates regime at a time when the economy is going so well. In this environment, the overlay programme fulfilled its objective by strengthening the hedge ratio as gold slid lower during the month.

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Fund information

Inception Date (Fund)
28/10/2014
Inception Date (Part)
24/10/2017
Legal form
FPC
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
10000.00 USD
ISIN Code
CH0246173667
AuM (fund)
8 M (USD)
Regulatory authority
FINMA
Management company
CACEIS (Switzerland) S.A.
Delegated Management Company
Edmond de Rothschild Asset Management (Suisse) S.A
Incorporation
Switzerland
Maximum management fee
0,210 %
Current management fee
0.210 %
Subscription fee
5.00 % max
Redemption fee
0.50 % max
Performance fee
20,000 %

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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