Edmond de Rothschild

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EdR Prifund Alpha Property Securities Indirect real estate

Indirect real estate
Change in NAV (30/04/2018)
100.43 USD
Roger  GUERRA–LU0242659190–
Roger GUERRA
Alexandre WIECZOREK–LU0242659190–
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
100.43 USD
Change in NAV (30/04/2018)
3
1234567
Risk and reward profile
Recommended holding period
Change in NAV (30/04/2018)
100.43 USD
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.
Contact

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 31/03/2018

Global equity markets closed in negative territory for the second month in a row (-2.2%), penalised chiefly by the United States (-2.6%), while Asia (-2.7%) and Europe (-1.1 %) also suffered. Fears of a trade war grew when the United States announced the introduction of import taxes on steel and aluminium for certain countries. The technology sector has also fallen sharply, following the data protection and Facebook scandal, plunging global markets into the red. Real estate stocks outperformed global equities this month (+2.3%), playing their role as a bond substitute. Europe performed particularly well in March (+3.0%), boosted by economic indicators and reassuring data on growth. Germany and Spain in particular benefited from the decline in political risk, which even offset Italy's negative impact and the rise of the Eurosceptic parties. The United States also performed well (+3.5%), driven by encouraging figures on the economy and prompting the Federal Reserve to hike its interest rates (+25 bps), as predicted, and thereby also raising its forecast of higher interest rates in 2019. All segments were in positive territory, especially residential real estate (+6.9%), health (+5.9%) and hotels (+4.6%). Asia was the worst performer this month (-1.1%), not helped by Hong Kong and the rise of trade tensions between the United States and China. In contrast, Japanese REITs benefited from their defensive bias and attracted investors. Prifund Alpha Property Securities closed in positive territory, slightly below the index, and has continued to outperform this year. Global and European real estate funds have been particularly constructive in the fund's positive performance, while Asian real estate managers closed lower.

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Change in NAV

Chart – Base 100 (30/04/2018)
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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
Since 01/01/2018

-0.96 %

15.79 %

-0.96 %

15.79 %

1 Year

4.98 %

21.35 %

4.98 %

21.35 %

3 Year

8.60 %

19.58 %

2.79 %

6.14 %

5 year

22.07 %

21.14 %

4.07 %

3.91 %

Since inception

27.70 %

12.68 %

2.15 %

1.04 %

Since 01/01/2018 1 Year 3 Year 5 year Since inception
Cumulative

Share class (B-USD)

Market index

-0.96 %

15.79 %

4.98 %

21.35 %

8.60 %

19.58 %

22.07 %

21.14 %

27.70 %

12.68 %

Annualised

Share class (B-USD)

Market index

4.98 %

21.35 %

2.79 %

6.14 %

4.07 %

3.91 %

2.15 %

1.04 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class B-USDMarket indexShare class B-USDMarket indexShare class B-USDMarket indexShare class B-USDMarket indexShare class B-USDMarket index
1 Year*9.84 %49.54 %38.12 %0.45 %-0.43 %0.41 %
3 Year *6.10 %17.20 %12.05 %0.65 %-0.28 %0.32 %
Max. drawdownAlphaBeta
Share class B-USDMarket indexShare class B-USDMarket indexShare class B-USDMarket index
1 Year*-3.47 %0.25 %0.09 %
3 Year *-5.58 %0.10 %0.23 %
Max. monthly gain Since inception4.39 %
Max. monthly loss Since inception-8.70 %
Share class B-USD
Market index
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 9.84 % 6.10 % 49.54 % 17.20 %
Tracking Error 38.12 % 12.05 %
Sharpe ratio 0.41 % 0.32 %
Alpha 0.25 % 0.10 %
Correlation coefficient 0.45 % 0.65 %
Information ratio -0.43 % -0.28 %
Max. monthly loss -8.70 %
Max. monthly gain 4.39 %
Max. drawdown -3.47 % -5.58 %
Beta 0.09 % 0.23 %

Fund information

Inception Date (Fund)
22/02/2006
Inception Date (Part)
26/10/2006
Legal form
SICAV
Market index
FTSE EPRA/NAREIT Developed Index
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Distribution
Valuation frequency
Official Monthly / Technical Wednesday
ISIN Code
LU0242659190
AuM (fund)
72 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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