Edmond de Rothschild

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EdR Prifund Alpha Global Opportunity Directional strategies

Directional strategies
Change in NAV (02/05/2019)
164.66 USD
Alternative  investment committee–LU0145921481–
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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164.66 USD
Change in NAV (02/05/2019)
4
1234567
Risk and reward profile
Recommended holding period
Change in NAV (02/05/2019)
164.66 USD
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 (hedge funds).

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Commentary 31/03/2019

In March the rise in the US stock market led global equities to their third consecutive month of gains. The S&P 500 TR strengthened further, up +1.9% for the month and registered its best quarterly performance (+13.1%) since 2009 and hence recovered most of the losses of Q4 2018. Best performing sectors were IT, industrials, energy, consumer discretionary and telecommunication. In the Eurozone, equities followed the upturn, the MSCI Europe Net TR index gained +0.6%, despite a less favorable outlook regarding a slowdown of its economy. During mid-March the German Council of Economic Experts slashed its 2019 growth forecast down from 1.8% to 0.8%, whereby the German government is preparing for a harsher slowdown than expected. Elsewhere Japanese stocks reacted with volatility to the US yield inversion and Brexit confusion; the Topix Net TR corrected slightly -0.1%. Emerging markets fared well, as shown by the MSCI EM Net TR index which rose +0.8%. US 10 year Treasuries fell to their lowest levels since 2017, while yields on German 10 year Bunds turned negative. Commodities experienced a setback during March, notably natural gas (-5.5%), while gold lost-1.6% over profit taking. Only Brent rose significantly (+5.1%). The US dollar strengthened against the EUR (+1.4%) and receded slightly against the JPY (-0.5%). The fund returned 1.5% in March (Class A USD) with majority of the underlying funds generating positive returns. The top performer was an Equity L/S fund that returned over 6% in March, benefitting both from both longs and shorts - on the long side a number of positions in healthcare companies contributed together with a payments processing firm. The second top performer was an event driven fund that benefitted from activist equity positions.

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Change in NAV

Chart – Base 100 (02/05/2019)
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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 B-USD Cumulative Annualised

3.63 %

6.74 %

5.18 %

11.96 %

1.91 %

8.72 %

Since inception

69.61 %

191.17 %

3.12 %

6.42 %

Since 01/01/2019 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (B-USD)

Market index

69.61 %

191.17 %

Annualised

Share class (B-USD)

Market index

3.63 %

6.74 %

5.18 %

11.96 %

1.91 %

8.72 %

3.12 %

6.42 %

*Rolling periods

Annual performance



Statistics

VolatilityCorrelation coefficientSharpe ratioMax. drawdownAlpha
Share class B-USDMarket indexShare class B-USDMarket indexShare class B-USDMarket indexShare class B-USDMarket indexShare class B-USDMarket index
1 Year*11.88 %27.28 %0.85 %0.19 %-5.27 %0.05 %
3 Year *4.78 %9.45 %0.80 %1.16 %-5.27 %0.02 %
Beta
Share class B-USDMarket index
1 Year*0.37 %
3 Year *0.41 %
Max. monthly gain Since inception4.80 %
Max. monthly loss Since inception-8.26 %
Share class B-USD
Market index
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 11.88 % 4.78 % 27.28 % 9.45 %
Tracking Error
Sharpe ratio 0.19 % 1.16 %
Alpha 0.05 % 0.02 %
Correlation coefficient 0.85 % 0.80 %
Max. monthly loss -8.26 %
Max. monthly gain 4.80 %
Max. drawdown -5.27 % -5.27 %
Beta 0.37 % 0.41 %

Fund information

Inception Date (Fund)
27/02/2002
Inception Date (Part)
27/02/2002
Legal form
SICAV
Market index
MSCI AC World (Local) (NR)
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Distribution
Valuation frequency
Official Monthly / Technical Wednesday
ISIN Code
LU0145921481
AuM (fund)
85 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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