Edmond de Rothschild

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EdR Prifund Alpha Uncorrelated Non-directional strategies

Non-directional strategies
Change in NAV (31/03/2019)
88.39 CHF
Alternative  investment committee–LU1805229306–
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)
88.39 CHF
Change in NAV (31/03/2019)
Risk and reward profile
Recommended holding period
Change in NAV (31/03/2019)
88.39 CHF
Risk and reward profile
Recommended holding period
Alternative investment committee  
The identity of the managers presented in this document may change during the life of the product.

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 28/02/2019

Equity markets continued their second month of recovery in February after December lows, however to a more modest extent. The MSCI World Index gained +2.8%, while the S&P 500 Index was up +3.0%. Catalysts for positive moves in the equity markets included U.S. government shutdown resolution, conciliatory rhetoric on trade tariffs and a dovish tone by global central banks, particularly in the US where Jerome Powell stated on February 27th the Fed will stop reducing the balance sheet. In the US, consumer confidence increased, jobless claims dropped, and actual job growth remained strong. The big winner in February on the equity side was the Shanghai Composite gaining 13.9%, having benefitted from China's loosening policy. Emerging markets in general were not as positive with the MSCI EM Index up 0.1%. Contributions from China were partially offset by declining markets in Brazil, India and Russia. European equities fared well during February; the MSCI Europe Index gained +3.3%, as a rise of the composite PMI for the Eurozone surprised positively. On the fixed income side, sovereign bond markets were muted on the back of an improved risk environment. Furthermore, some commodities fared well, in particular, oil and base metals. Brent gained +6.7%. Gold finished slightly lower (-0.6%).In that context, hedge funds were up (HFRX Global Hedge Fund Index 0.6%), led mainly by Equity Long/Short strategies (HFRX Equity Hedge Index +1.2%). Our fund had mixed results, finishing down 31bp for the month, and up 21bp YTD. Non directional equities had a flattish month, with most managers in positive territory, between +2.65%, by a systematic market neutral AI based manager, to +0.2%, and three managers slightly negative, between -1.6% and-0.7%. The Multistrategy managers had a positive month between +1.2% and +0.5%, best contributor for the month. Event Driven managers were slightly positive, with one manager outperforming his peers, up 3.2%, offset by small losses of 2 other managers. CTAs were flat as a group with one fund offsetting the other manager's losses. Macro managers had the worst performance, driven down by two commodity centered managers that continued to suffer.

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Fund information

Inception Date (Fund)
Inception Date (Part)
Legal form
Market index
JPMorgan Cash Index Swiss Franc Currency 1 Month
Currency (fund)
Currency (share class)
Distribution Policy
Valuation frequency
Official Monthly / Technical Wednesday
AuM (fund)
396 M (USD)
Regulatory authority
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild (Suisse) S.A.
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.