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EdR Selective Japan Japan equities

Japan equities
Change in NAV (14/08/2017)
19,095.46 JPY
Takahiro  UEMURA–FR0010976555–
Takahiro UEMURA
Takashi SHIMODAIRA(ProductSpecialist)–FR0010976555–
Takashi SHIMODAIRA(ProductSpecialist)
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
Recommended holding period
> 5 years
19,095.46 JPY
Change in NAV (14/08/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (14/08/2017)
19,095.46 JPY
Risk and reward profile
1234567
Recommended holding period
> 5 years
Takahiro UEMURA  
Takashi SHIMODAIRA(ProductSpecialist)  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The UCITS' investment objective is to outperform the TOPIX Net Total Return Index over the recommended investment period of 5 years.

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Commentary 31/07/2017

In the first half of the month, Japans equity market showed a moderate gain on the back of solid macro economy in US and Europe, positive expectation for corporate earnings result announcement for the period of April to June, normalization of central bank's monetary policies (expectation for the ECB's tapering and outlook for the FRB's simulative reduction in US), while there was a phase of falling as a result of Japan's given party, LDP's historic defeat in the Tokyo metropolitan assembly election which was held on the 2nd of July. Progress of JPY depreciation functioned as a supporting tailwind for the Japan equity market.In the second half of the month, upside of the stock market was capped by risk-off behaviors of investors and progress of Japanese Yen appreciation against US dollar in fear of several negative political factors such as (a) a reported fall in Abe government approval ratio to below 30% level, so-called critical line, in a survey of mass media, (b) Russian gate suspicion of the US President Donald Trump's son-in-law Jared Kushner, Senior Adviser to the president, and (c) North Korea's demonstration of ICBM (intercontinental ballistic missile) launching test. For sector performance on the SMAM's sub-sector classification criteria, this month's top five performing sectors include Iron & Steel (in favor of Mainland China's crude steel production capacity reduction), Non-ferrous Metals and Electric Cable (in favor of a rise in copper price), Machine Tools & Bearings (robust growth of incoming orders from Mainland China), Industrial Electric Appliances (robust growth of incoming orders for robotics for industrial use).On the other hand, the worst performing sectors include Money Center Banks & Trust Banks (discouraged by stagnant long-term interest rates at low level), Other Manufacturing (pressured by profit-taking after a rise in stock prices), Land Transportation (relatively low position in terms of expected earnings results for April-June within all industries), Securities (in fear of uncertain political situations and geopolitical risk).

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Change in NAV

Chart – Base 100 (14/08/2017)
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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 A-JPY Cumulative Annualised
Since 01/01/2017

11.70 %

6.33 %

11.70 %

6.33 %

1 Year

24.01 %

23.08 %

23.86 %

22.94 %

3 Year

34.75 %

31.59 %

10.44 %

9.57 %

5 year

128.53 %

125.14 %

17.96 %

17.61 %

Since inception

91.24 %

85.07 %

10.30 %

9.75 %

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

Share class (A-JPY)

Benchmark

11.70 %

6.33 %

24.01 %

23.08 %

34.75 %

31.59 %

128.53 %

125.14 %

91.24 %

85.07 %

Annualised

Share class (A-JPY)

Benchmark

23.86 %

22.94 %

10.44 %

9.57 %

17.96 %

17.61 %

10.30 %

9.75 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class A-JPYBenchmarkShare class A-JPYBenchmarkShare class A-JPYBenchmarkShare class A-JPYBenchmarkShare class A-JPYBenchmark
1 Year*10.97 %12.53 %6.64 %0.85 %-0.06 %2.34 %
3 Year *13.25 %16.03 %7.65 %0.88 %0.12 %0.59 %
Max. drawdownAlphaBeta
Share class A-JPYBenchmarkShare class A-JPYBenchmarkShare class A-JPYBenchmark
1 Year*-5.92 %0.12 %0.74 %
3 Year *-25.30 %0.28 %0.73 %
Max. monthly gain Since inception16.53 %
Max. monthly loss Since inception-18.85 %
Share class A-JPY
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 10.97 % 13.25 % 12.53 % 16.03 %
Tracking Error 6.64 % 7.65 %
Sharpe ratio 2.34 % 0.59 %
Alpha 0.12 % 0.28 %
Correlation coefficient 0.85 % 0.88 %
Information ratio -0.06 % 0.12 %
Max. monthly loss -18.85 %
Max. monthly gain 16.53 %
Max. drawdown -5.92 % -25.30 %
Beta 0.74 % 0.73 %

Fund information

Inception Date (Fund)
30/12/2010
Inception Date (Part)
04/01/2011
Legal form
Mutual Fund
Benchmark
TOPIX Net Total Return
Currency (fund)
JPY
Currency (share class)
JPY
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010976555
AuM (fund)
16,614 M (JPY)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
Sumitomo
Incorporation
France
Maximum management fee
2,000 %
Current management fee
2.000 %
Subscription and redemption conditions
Daily before 4.30 pm C.E.T.on next day's net asset value
Subscription fee
3.00 % max
Performance fee
15,000 %

Fund documentation

Select all

(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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