Edmond de Rothschild

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This site provides extensive information about the ranges of Edmond de Rothschild Group funds. In particular, it provides simplified access to key fund-related data (performance, net asset values, features) and their commercial or legal documents.

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EdR Prifund Income Strategy Diversified bonds

Diversified bonds
Change in NAV (17/01/2018)
105.03 GBP
Laurent  TRUCHI–LU0502486409–
Laurent TRUCHI
Marine DUCHET-GUILLERD–LU0502486409–
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
105.03 GBP
Change in NAV (17/01/2018)
3
1234567
Risk and reward profile
Recommended holding period
Change in NAV (17/01/2018)
105.03 GBP
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 31/12/2017

Central banks once again dominated the financial headlines in December. As expected, the US Federal Reserve hiked its key interest rates by 25 bps, while the ECB kept its key rates unchanged — with both leaving the door wide open for a normalisation to their accommodative monetary policies. The key point is the scale of economic growth upgrades that the two central banks made simultaneously. The ECB has forecast a growth rate of +2.3% for 2018 in the euro zone, against +1.8% previously, while the Fed has upgraded its outlook to +2.5% against +2.1%. Inflation remains something of an enigma, with both the Fed and ECB forecasts unchanged at +1.8% despite the extremely positive macroeconomic environment. How it unfolds will colour asset allocation decisions throughout 2018. At the political level, the big news was, of course, the success of the so-often rejected vote for tax reform by both chambers in the US Congress. This will make it possible as of January 2018 to reduce household tax rates, increase tax deductions and cut the corporate tax rate from 35% to 21%. The investment grade credit market in Europe has been affected by a moderate rise in long-term rates in the euro zone (with, for example, 10-year bonds up in Italy +25 bps, Germany +5 bps, France +10 bps) while recording a drop of 0.30%, with high yield bonds suffering less because of their lower interest-rate sensitivity, thereby dipping by only 0.12%. In the United States, the hike in oil prices and the near stability of 10-year bonds enabled high yield credit markets to close the year up 0.35%. Note, too, the positive performance of emerging bonds favoured by a rise in commodities and the weakness of the US dollar. The bond index in local currency recorded the best performance, with a hike of +1.45% in December. At the fund level we sold our position on Muzinich's L/S Credit Yield Fund to replace it with Bluebay IG Absolute Return Bond Fund in order to enhance the potential for alpha creation.

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Change in NAV

Chart – Base 100 (17/01/2018)
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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-GBP Cumulative Annualised
Since 01/01/2018

0.18 %

0.03 %

0.18 %

0.03 %

1 Year

1.38 %

0.30 %

1.36 %

0.29 %

3 Year

2.79 %

1.22 %

0.92 %

0.40 %

5 year

6.53 %

2.22 %

1.27 %

0.44 %

Since inception

13.55 %

3.96 %

1.66 %

0.50 %

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

Share class (B-GBP)

Market index

0.18 %

0.03 %

1.38 %

0.30 %

2.79 %

1.22 %

6.53 %

2.22 %

13.55 %

3.96 %

Annualised

Share class (B-GBP)

Market index

1.36 %

0.29 %

0.92 %

0.40 %

1.27 %

0.44 %

1.66 %

0.50 %

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
28/05/2009
Inception Date (Part)
28/04/2010
Legal form
SICAV
Market index
JPMorgan Cash Index GBP Currency 1 Month
Currency (fund)
EUR
Currency (share class)
GBP
Distribution Policy
Distribution
Valuation frequency
Official Wednesday / Technical Monthly
ISIN Code
LU0502486409
AuM (fund)
30 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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