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 Prifund Alpha Diversified Multi-strategy

Multi-strategy
Change in NAV (30/09/2018)
159.93 EUR
Alternative  investment committee–LU0173396135–
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)
1234567
159.93 EUR
Change in NAV (30/09/2018)
4
1234567
Risk and reward profile
Recommended holding period
Change in NAV (30/09/2018)
159.93 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.
Contact

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 31/08/2018

The month of August showed divergence in performance between Europe and North America. While the US stock markets were up 3.3%, the EuroStoxx50 declined 3.7%. The turmoil in Turkey negatively impacted European stock markets driven by the likelihood of a weakening Turkish lira contagion across Europe. On the other hand, the good performance of the US markets was driven by large cap stocks - mainly Apple and Amazon gaining 19.6% and 13.2% respectively. The continued US / China trade tensions have resulted in the Chinese onshore CSI 300 Index to decline by an additional 5% bringing the YTD down to 15.5%. Base metals continued their negative trend due to trade tensions; zinc ended the month at -6% and Copper -5%. Emerging Market currencies experienced extensive weakness, led by the unfolding currency crises in Turkey (the lira declined 25% versus the USD) and Argentina. EM also suffered from the consequences of USD strength driven by US growth outperformance, rate differentials and USD liquidity tightening. In fixed income market, Italian 10-year BTPs remained volatile due to fears over the country's fiscal policy while Fitch downgraded Italy's debt outlook to negative; which lead to their yields increasing by 52 bps. Credit spreads increased in EM Sovereign and Corporates indices as well as in Europe in reaction to the stress generated by the situation in Italy. Global hedge fund indices were up in August; nevertheless remain in negative territory YTD, with directional strategies losing the most.Our fund was slightly up in August. Non-Directional Equity funds posted the strongest results 2.3% with systematic funds outperforming discretionary ones. The main detractors were Macro strategies both discretionary and quantitative, as well as CTAs. Macro managers lost -1.3% mainly due to EM exposure. One fund focused on commodities was also a significant detractor. CTAs were down -1.3% mainly from their EM exposures and currency trades. Event Driven funds had mixed results, which led to a 0.2% loss explained by two major risks – regulatory approval risk and China trade war. Global equity L/S managers were up 1.4% albeit Asian managers suffered from the continued US/China trade war tensions. Multistrategy funds were slightly up this month, hurt by the widening credit spreads environment.

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Change in NAV

Chart – Base 100 (30/09/2018)
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 B-EUR Cumulative Annualised

0.93 %

11.15 %

-0.39 %

13.36 %

0.89 %

10.46 %

Since inception

63.87 %

183.84 %

3.46 %

7.45 %

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

Share class (B-EUR)

Market index

63.87 %

183.84 %

Annualised

Share class (B-EUR)

Market index

0.93 %

11.15 %

-0.39 %

13.36 %

0.89 %

10.46 %

3.46 %

7.45 %

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
28/07/2003
Inception Date (Part)
31/03/2004
Legal form
SICAV
Market index
MSCI AC World (Local) (NR)
Currency (fund)
USD
Currency (share class)
EUR
Distribution Policy
Distribution
Valuation frequency
Official Monthly / Technical Wednesday
ISIN Code
LU0173396135
AuM (fund)
31 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
1,250 %
Current management fee
1.250 %
Subscription fee
5.00 % max
Redemption fee
3.00 % max
Performance fee
5,000 %

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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