Edmond de Rothschild

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EdR Prifund Alpha Uncorrelated Non-directional strategies

Non-directional strategies
Change in NAV (31/05/2019)
222.71 USD
Alternative  investment committee–LU0129763305–
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
222.71 USD
Change in NAV (31/05/2019)
4
1234567
Risk and reward profile
Recommended holding period
Change in NAV (31/05/2019)
222.71 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 favourable 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%). Our fund was up 14bp. Non directional equities, with about 40% allocation, had quite a good month, between +2.5% for the two top performers, and slightly negative, + 60bp for the weakest fund, contributing about 90 bp to the fund. Multi Strategy and Event Driven funds were also positive, around 1% on average, CTA's were flat, and Macro had a negative month, mainly due to one manager down about 4%. We continue to rotate away from lower volatility/return funds into higher octane but duly uncorrelated managers, Most recent addition includes a “Quantamental” Macro manager.

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Change in NAV

Chart – Base 100 (31/05/2019)
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 A-USD Cumulative Annualised

-1.04 %

2.34 %

1.31 %

1.47 %

0.36 %

0.97 %

Since inception

122.71 %

34.29 %

4.54 %

1.65 %

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

Share class (A-USD)

Market index

122.71 %

34.29 %

Annualised

Share class (A-USD)

Market index

-1.04 %

2.34 %

1.31 %

1.47 %

0.36 %

0.97 %

4.54 %

1.65 %

*Rolling periods

Annual performance



Statistics

VolatilitySharpe ratioMax. drawdownAlpha
Share class A-USDMarket indexShare class A-USDMarket indexShare class A-USDMarket indexShare class A-USDMarket index
1 Year*4.75 %0.38 %0.34 %-2.69 %0.23 %
3 Year *2.32 %0.21 %0.47 %-3.21 %0.27 %
Max. monthly gain Since inception5.25 %
Max. monthly loss Since inception-6.21 %
Share class A-USD
Market index
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 4.75 % 2.32 % 0.38 % 0.21 %
Tracking Error
Sharpe ratio 0.34 % 0.47 %
Alpha 0.23 % 0.27 %
Max. monthly loss -6.21 %
Max. monthly gain 5.25 %
Max. drawdown -2.69 % -3.21 %

Fund information

Inception Date (Fund)
23/05/2001
Inception Date (Part)
23/05/2001
Legal form
SICAV
Market index
JPMorgan Cash Index US Dollar Currency 1 Month
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Official Monthly / Technical Wednesday
ISIN Code
LU0129763305
AuM (fund)
538 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

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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