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EdR Prifund Alpha Concentrated Multi-strategy

Multi-strategy
Change in NAV (31/07/2017)
91.53 EUR
Alternative  investment committee–LU1223129179–
Alternative investment committee
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
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91.53 EUR
Change in NAV (31/07/2017)
4
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Risk and reward profile
Recommended holding period
Change in NAV (31/07/2017)
91.53 EUR
Risk and reward profile
1234567
Recommended holding period
Alternative investment committee  
 
The identity of the managers presented in this document may change during the life of the product.
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Investment objective

The objective of the Sub-Fund is to provide long-term optimum growth of your capital by investing in “alternative management” funds (hedgefunds).

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Commentary 31/07/2017

Global equity markets posted gains in July led by Italy, China, Brazil and India. The US Dollar declined against other major currencies, whilst the Euro keeps strengthening. Global risk appetite remains strong with a weakening USD favouring exposure to EM markets where valuations remain relatively cheap. Commodities were positive led by a surge in oil, but also gains in gasoline, coffee, copper, sugar and precious metals, whilst natural gas, wheat and corn declined. Inflation expectations remain high in the US economy as the dollar keeps weakening and oil prices appreciated, making a stronger case for a Fed rate hike later this year. In July, US interest rates posted modest increases across most maturities, whilst European yields posted narrow declines. Euro high yield spreads reached 10-year lows. Implied volatility went down during the month near historical lows.In that context, our Hedge Funds posted positive performances across the board in July. Global Equity Long/Short was the best performing strategy led by exposure to European names and US technology, healthcare and energy names. Our Macro manager posted positive performances from actively trading commodities, particularly oil, and Emerging Markets, albeit a decline in the USD against most major currencies. Our Multi-Strategy managers posted strong positive gains, mainly from exposure to market neutral L/S equities, Relative Value trading and Event Driven Special Situations. Our CTA managers were up for the first month since March mainly from exposure to systematic trend-following and momentum. They notably adjusted their positioning in the foreign exchange market over the recent months and are now benefiting from short USD and long EUR positions. Our Fixed Income & Credit manager was slightly up due to Fixed Income-based Relative Value arbitrage trading. At the end of the month, we have not changed the allocation of the fund.

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Change in NAV

Chart – Base 100 (31/07/2017)
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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 R-EUR Cumulative Annualised
Since 01/01/2017

2.45 %

10.94 %

2.45 %

10.94 %

1 Year

-0.44 %

16.51 %

-0.44 %

16.51 %

Since inception

-8.47 %

15.05 %

-3.85 %

6.42 %

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

Share class (R-EUR)

Market index

2.45 %

10.94 %

-0.44 %

16.51 %

-8.47 %

15.05 %

Annualised

Share class (R-EUR)

Market index

-0.44 %

16.51 %

-3.85 %

6.42 %

*Rolling periods

Annual performance



Statistics

VolatilityCorrelation coefficientSharpe ratioMax. drawdownAlpha
Share class R-EURMarket indexShare class R-EURMarket indexShare class R-EURMarket indexShare class R-EURMarket indexShare class R-EURMarket index
1 Year*5.34 %7.33 %0.78 %2.30 %-2.82 %-0.77 %
3 Year *
Beta
Share class R-EURMarket index
1 Year*0.57 %
3 Year *
Max. monthly gain Since inception1.73 %
Max. monthly loss Since inception-2.70 %
Share class R-EUR
Market index
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 5.34 % 7.33 %
Tracking Error
Sharpe ratio 2.30 %
Alpha -0.77 %
Correlation coefficient 0.78 %
Max. monthly loss -2.70 %
Max. monthly gain 1.73 %
Max. drawdown -2.82 %
Beta 0.57 %

Fund information

Inception Date (Fund)
28/04/2003
Inception Date (Part)
30/04/2015
Legal form
SICAV
Market index
MSCI AC World (Local) (NR)
Currency (fund)
USD
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Official Monthly / Technical Wednesday
Minimum initial investment
1000000.00 EUR
ISIN Code
LU1223129179
AuM (fund)
43 M (USD)
Regulatory authority
CSSF
EU Regulation
AIFM
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild (Suisse) S.A.
Incorporation
Luxembourg
Maximum management fee
0,625 %
Current management fee
0.625 %

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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