Edmond de Rothschild

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EdR Prifund Alpha Uncorrelated ($) Non-directional strategies

Non-directional strategies
Change in NAV (16/08/2018)
171.44 USD
Alternative  investment committee–LU0220400658–
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
171.44 USD
Change in NAV (16/08/2018)
4
1234567
Risk and reward profile
Recommended holding period
Change in NAV (16/08/2018)
171.44 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 30/06/2018

During June, the Fed proceeded with another rate hike, the ECB committed to ending its QE program in the near term, and the month was marked by continued trade tensions between multiple countries. This impacted markets globally, and volatility was sustained across equities, FX and rates markets. In that context, global equity markets lost some ground, with EM markets taking a hit, while the US ended in positive territory. The USD appreciated against most currencies, with the lion's share of EM FX depreciated. Nearly all commodity markets were down, led by grains and metals, while crude oil continued to appreciate. In the US, 10 Year rates ended the month at 2.86%, unchanged from May end, while short term rates rose, flattening the yield curve. In Europe, peripheral spreads compressed and rates decreased. Credit spreads increased in most markets, led by EM and EU spreads, while US IG/HY ones expanded slightly. Global hedge fund indices were down in June and are negative YTD, with directional strategies losing the most. Our hedge fund was down 0.66% in June. The worst detractors were Global Macro, Non-Directional Equities and Multistrategy managers. Macro managers lost 2.3% mainly from exposure to EM and Commodity markets. Non-Directional Equities, the core component of the portfolio, ended the month down 0.2%, with discretionary managers outperforming systematic ones. Multistrategy funds had mixed results, which led to a 0.1% loss, driven mainly from a manager that was hurt by the sector rotation that occurred between cyclical and defensive names in the second half of the month. CTAs were up 0.2% mainly from their long equity exposures. Event Driven managers were the top performing strategy, gaining 1.2%, mostly driven by their merger arbitrage trades, which benefited from the positive ruling in the Time Warner/AT&T case.

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Change in NAV

Chart – Base 100 (16/08/2018)
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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 C-USD Cumulative Annualised

3.19 %

1.60 %

-0.25 %

0.91 %

2.26 %

0.61 %

Since inception

71.44 %

15.16 %

4.64 %

1.19 %

Since 01/01/2018 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (C-USD)

Market index

71.44 %

15.16 %

Annualised

Share class (C-USD)

Market index

3.19 %

1.60 %

-0.25 %

0.91 %

2.26 %

0.61 %

4.64 %

1.19 %

*Rolling periods

Annual performance



Statistics

VolatilitySharpe ratioMax. drawdownAlpha
Share class C-USDMarket indexShare class C-USDMarket indexShare class C-USDMarket indexShare class C-USDMarket index
1 Year*5.90 %0.22 %0.55 %-0.90 %0.57 %
3 Year *2.71 %0.17 %0.50 %-6.48 %-0.42 %
Max. monthly gain Since inception5.31 %
Max. monthly loss Since inception-6.16 %
Share class C-USD
Market index
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 5.90 % 2.71 % 0.22 % 0.17 %
Tracking Error
Sharpe ratio 0.55 % 0.50 %
Alpha 0.57 % -0.42 %
Max. monthly loss -6.16 %
Max. monthly gain 5.31 %
Max. drawdown -0.90 % -6.48 %

Fund information

Inception Date (Fund)
23/05/2001
Inception Date (Part)
30/09/2006
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
Minimum initial investment
1000000.00 USD EQ EUR
ISIN Code
LU0220400658
AuM (fund)
197 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
0,625 %
Current management fee
0.625 %
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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