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EdR Prifund Income Strategy Diversified bonds

Diversified bonds
Change in NAV (16/08/2017)
97.65 CHF
Laurent  TRUCHI–LU0502484537–
Laurent TRUCHI
Marine DUCHET-GUILLERD–LU0502484537–
Marine DUCHET-GUILLERD
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
97.65 CHF
Change in NAV (16/08/2017)
3
1234567
Risk and reward profile
Recommended holding period
Change in NAV (16/08/2017)
97.65 CHF
Risk and reward profile
1234567
Recommended holding period
Laurent TRUCHI  
Marine DUCHET-GUILLERD  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Sub-Fund aims to grow your capital by investing mainly in securities that are bonds or other debt securities, admitted to an official stock exchange or traded on a “regulated market”. A regulated market is a market that is regulated, operating regularly, recognised and open to the public. These investments are made with no geographical restrictions.

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Commentary 31/07/2017

The European Central Bank's position, stated at Sintra at June's end, was interpreted by investors as a willingness on the part of the Bank to accelerate the pace of the normalisation in European monetary policy. This has continued to impact European interest rates. Their sharp rise at June's end continued into early July. Then, they were finally stabilised, and the market gradually tightened again over the period until mid-July, when the ECB adapted its discourse in order to reassure the markets. With core inflation now at low levels, talk about a planned ending to QE should be pushed back until later this year, subject to improving economic data, and, in particular, any increase inflationary pressure. In the United States, the first signs of slowing momentum have been witnessed, and the absence of key reforms coupled with low inflation, could delay the final rate hike expected this year, if the economic situation were to worsen. In the second half of July, investors accordingly targeted risk-taking, particularly on the high yield sector, and this despite the reduction in market liquidity, given the quarterly reporting season's results. Further depreciation of the US dollar and rebounding oil prices benefited emerging markets, and in particular, emerging market currencies. Given this environment, the fund held up well to the rate hikes and captured the gains in high-yield assets. Tight risky asset valuations and historically low levels on the VIX at the month end made the situation pretty unsustainable in the long run and raised fears of an upcoming correction. Accordingly, we kept our positioning of the credit market conservative and opportunistic.

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Change in NAV

Chart – Base 100 (16/08/2017)
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 B-CHF Cumulative Annualised
Since 01/01/2017

0.76 %

-0.50 %

0.76 %

-0.50 %

1 Year

0.63 %

-0.82 %

0.62 %

-0.80 %

3 Year

-0.95 %

-2.02 %

-0.32 %

-0.68 %

5 year

5.07 %

-2.02 %

0.99 %

-0.41 %

Since inception

5.76 %

-1.83 %

0.77 %

-0.25 %

Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

Share class (B-CHF)

Market index

0.76 %

-0.50 %

0.63 %

-0.82 %

-0.95 %

-2.02 %

5.07 %

-2.02 %

5.76 %

-1.83 %

Annualised

Share class (B-CHF)

Market index

0.62 %

-0.80 %

-0.32 %

-0.68 %

0.99 %

-0.41 %

0.77 %

-0.25 %

*Rolling periods

Annual performance



Statistics

Volatility
Share class B-CHFMarket index
1 Year*0.94 %0.01 %
3 Year *2.09 %0.10 %
Max. monthly gain Since inception
Max. monthly loss Since inception
Share class B-CHF
Market index
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 0.94 % 2.09 % 0.01 % 0.10 %
Tracking Error

Fund information

Inception Date (Fund)
28/05/2009
Inception Date (Part)
28/04/2010
Legal form
SICAV
Market index
JPMorgan Cash Index Swiss Franc Currency 1 Month
Currency (fund)
EUR
Currency (share class)
CHF
Distribution Policy
Distribution
Valuation frequency
Official Wednesday / Technical Monthly
ISIN Code
LU0502484537
AuM (fund)
39 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
0,750 %
Current management fee
0.750 %
Subscription fee
3.00 % 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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