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 Financial Bonds Corporate bonds

Corporate bonds
Change in NAV (19/01/2018)
118.54 USD
Julien  de SAUSSURE–FR0011882281–
Julien de SAUSSURE
Benjamine NICKLAUS–FR0011882281–
Benjamine NICKLAUS
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
> 3 years
118.54 USD
Change in NAV (19/01/2018)
3
1234567
Risk and reward profile
> 3 years
Recommended holding period
Change in NAV (19/01/2018)
118.54 USD
Risk and reward profile
1234567
Recommended holding period
> 3 years
Julien de SAUSSURE  
Benjamine NICKLAUS  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The UCITS' objective is to outperform the Bank of America Merrill Lynch EMU Financial Corporate Index over the recommended investment period through a portfolio exposed to bonds issued primarily by international financial institutions.

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Commentary 29/12/2017

Leading central banks gave their take in the first fortnight of December on the state of the economy, growth prospects and inflation expectations. In the euro zone, as in the United States, central bankers argue that growth will accelerate in 2018 thanks to better fundamentals in Europe as well as the tax reforms passed by the US Congress. However, central bankers no longer believe that inflation will reach higher levels in 2018, which is quite surprising. This attitude may explain a rise in world interest rates, notably from 0.30% to 0.43% on the 10-year German bund and from 2.14% to 2.22% on the US 5-year Treasury note. Credit markets held steady over the month as spread tightening offset rising interest rates. The results of the regional elections in Catalonia, which ended with the separatist bloc in the lead, have not affected the valuation of our positions on Spain. Positions on Italy underperformed at the month end on the news that Parliament was being dissolved, with elections to be held on March 4, 2018. This did not, however, prevent Unicredit from issuing its latest 2017 AT1 with a 5.375% coupon. The fund posted a modestly positive result for the month, with good performances across all segments and strong appreciation by the Atradius T2 bond in the wake of its positive rating outlook by Moody's.

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Change in NAV

Chart – Base 100 (19/01/2018)
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 BH-USD Cumulative Annualised
Since 01/01/2018

0.91 %

0.03 %

0.91 %

0.03 %

1 Year

11.71 %

3.47 %

11.71 %

3.47 %

3 Year

19.03 %

7.42 %

5.97 %

2.41 %

Since inception

18.47 %

10.93 %

4.81 %

2.91 %

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

Share class (BH-USD)

Benchmark

0.91 %

0.03 %

11.71 %

3.47 %

19.03 %

7.42 %

18.47 %

10.93 %

Annualised

Share class (BH-USD)

Benchmark

11.71 %

3.47 %

5.97 %

2.41 %

4.81 %

2.91 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class BH-USDBenchmarkShare class BH-USDBenchmarkShare class BH-USDBenchmarkShare class BH-USDBenchmarkShare class BH-USDBenchmark
1 Year*2.71 %1.66 %2.46 %0.45 %3.35 %1.31 %
3 Year *4.82 %2.31 %3.53 %0.72 %0.91 %0.85 %
Max. drawdownAlphaBeta
Share class BH-USDBenchmarkShare class BH-USDBenchmarkShare class BH-USDBenchmark
1 Year*-1.14 %0.16 %0.74 %
3 Year *-8.34 %0.16 %1.49 %
Max. monthly gain Since inception3.26 %
Max. monthly loss Since inception-2.99 %
Share class BH-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 2.71 % 4.82 % 1.66 % 2.31 %
Tracking Error 2.46 % 3.53 %
Sharpe ratio 1.31 % 0.85 %
Alpha 0.16 % 0.16 %
Correlation coefficient 0.45 % 0.72 %
Information ratio 3.35 % 0.91 %
Max. monthly loss -2.99 %
Max. monthly gain 3.26 %
Max. drawdown -1.14 % -8.34 %
Beta 0.74 % 1.49 %

Fund information

Inception Date (Fund)
10/03/2008
Inception Date (Part)
11/06/2014
Legal form
Mutual Fund
Benchmark
BofA Merrill Lynch Euro Financial
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0011882281
AuM (fund)
2,036 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
1,200 %
Current management fee
1.200 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
1.00 % max
Performance fee
20,000 %

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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