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EdR Prifund Alpha Property Securities Indirect real estate

Indirect real estate
Change in NAV (30/04/2017)
118.62 EUR
Roger  GUERRA–LU0242657657–
Roger GUERRA
Alexandre WIECZOREK–LU0242657657–
Alexandre WIECZOREK
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
118.62 EUR
Change in NAV (30/04/2017)
3
1234567
Risk and reward profile
Recommended holding period
Change in NAV (30/04/2017)
118.62 EUR
Risk and reward profile
1234567
Recommended holding period
Roger GUERRA  
Alexandre WIECZOREK  
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 obtain optimal long-term growth of the invested capital through a diversified portfolio composed of transferable securities from the real estate sector or related to the real estate sector worldwide and more particularly in Europe, Asia and North America.

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Commentary 30/04/2017

For the sixth month in a row, April saw a buoyant equity market performance. In Europe, the economic outlook has remained attractive both for companies, whose seasonal reports have reassured investors, and politically, with Emmanuel Macron emerging from the first round of the French presidential elections as the most favoured candidate. For investors, Macron represents European renewal and has allayed fears of the European Union disintegrating. The euro's +1.9% gain was another consequence of this optimistic atmosphere. In the United States, equity prices benefited from a strong start to the Q1 corporate reporting season. Defensive sectors, including real estate, found less favour in this climate. Note that crude oil lost -5% this month, due to the growth in published oil reserves. In Asia, the BoJ indicated that it would continue its accommodative policy even though there are signs that the economy is improving. The FTSE EPRA/NAREIT Developed Index gained +0.9% over the month, boosted by its exposure to Europe (+3.1%) and Asia (+1.8%). In contrast, the US component dipped slightly (-0.2%). Sub-sector performances varied widely with US commercial real estate recording the largest decline (-4%), followed by self-storage (-2.9%) and hotels (-1.4%). Fund managers are becoming more wary over US REITs, given their high sensitivity in the event of a medium-term rate hike. Overall, the key lies in allocation to sectors that will suffer little from a shift in rates, especially those where prices have already climbed well. The range of yield spreads in April offered a very attractive environment for active fund managers. Given this environment, Prifund Alpha Property Securities is in line with its index.

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Change in NAV

Chart – Base 100 (30/04/2017)
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

Performance A-EUR Cumulative Annualised
Since 01/01/2017 1.32 % 1.32 %
1 Year 3.54 % 3.54 %
3 Year 11.34 % 3.64 %
5 year 23.27 % 4.27 %
Since inception 18.62 % 1.54 %
Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

1.32 %

3.54 %

11.34 %

23.27 %

18.62 %

Annualised

3.54 %

3.64 %

4.27 %

1.54 %



Fund information

Inception Date (Fund)
22/02/2006
Inception Date (Part)
22/02/2006
Legal form
SICAV
Market index
FTSE EPRA/NAREIT Developed Index
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Official Monthly / Technical Wednesday
ISIN Code
LU0242657657
AuM (fund)
76 M (EUR)
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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