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 Start Defensive strategies

Defensive strategies
Change in NAV (22/05/2018)
1,082.16 EUR
Benjamin  MELMAN–FR0010773614–
Benjamin MELMAN
Eliezer BENZIMRA–FR0010773614–
Eliezer BENZIMRA
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
18 months
1,082.16 EUR
Change in NAV (22/05/2018)
2
1234567
Risk and reward profile
18 months
Recommended holding period
Change in NAV (22/05/2018)
1,082.16 EUR
Risk and reward profile
1234567
Recommended holding period
18 months
Benjamin MELMAN  
Eliezer BENZIMRA  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The UCITS' management strategy is discretionary and opportunistic. The UCITS takes positions on the bond and equity markets and on currencies. The UCITS' objective is to seek absolute performance, decorrelated over the recommended investment period, on the main international equity and bond markets. In the context of its management, the UCITS' target volatility may be up to a maximum of 3%.

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Commentary 30/04/2018

Government bonds came under pressure in April. This was more acute in the United States, along with a 2% hike in the USD against the EUR. Note that the US 10-year T-bond has once again crossed the symbolic 3% threshold, a level last reached in 2014. Given the present trend, the US yield curve has continued to flatten, raising concerns among a growing number of Federal Reserve members over the possibility of the curve inverting. Volatility reduced on German bonds. In fact, at the ECB's latest meeting, it's President, Mario Draghi, saw no signs of monetary tightening ahead. The UK yield curve distinguished itself by steepening sharply while the shortest maturities eased. While the market was convinced that the Bank of England would still hike its key rate in May, the latest inflation figure has cast doubt on this scenario since it reveals a sharper-than-expected slowdown. Debt in peripheral European countries showed widely different movements. While Moody's raised Spain's rating, the market has underperformed due to its very busy primary market. Italy's debt has held up very well even though negotiations to form a new government have not yet succeeded. Meanwhile, the German government has announced it is ready to begin discussions on Greek debt relief, producing a strong outperformance by Greek bonds. With this shifting appetite for risk, corporate debt has seen spreads tightening, especially in the high yield credit segment. On the other hand, the emerging debt market has seen spreads widening due to the flight from this asset class.

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Change in NAV

Chart – Base 100 (22/05/2018)
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 S-EUR Cumulative Annualised
Since 01/01/2018

-0.26 %

-0.15 %

-0.26 %

-0.15 %

1 Year

-0.02 %

-0.36 %

-0.02 %

-0.36 %

3 Year

2.12 %

-0.91 %

0.70 %

-0.30 %

5 year

5.56 %

-0.77 %

1.09 %

-0.15 %

Since inception

8.22 %

0.95 %

0.90 %

0.11 %

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

Share class (S-EUR)

Benchmark

-0.26 %

-0.15 %

-0.02 %

-0.36 %

2.12 %

-0.91 %

5.56 %

-0.77 %

8.22 %

0.95 %

Annualised

Share class (S-EUR)

Benchmark

-0.02 %

-0.36 %

0.70 %

-0.30 %

1.09 %

-0.15 %

0.90 %

0.11 %

*Rolling periods

Annual performance



Statistics

VolatilityCorrelation coefficientMax. drawdownAlphaBeta
Share class S-EURBenchmarkShare class S-EURBenchmarkShare class S-EURBenchmarkShare class S-EURBenchmarkShare class S-EURBenchmark
1 Year*0.49 %0.10 %-0.69 %
3 Year *1.06 %0.03 %-0.15 %-2.13 %-0.08 %-5.87 %
Max. monthly gain Since inception0.77 %
Max. monthly loss Since inception-0.52 %
Share class S-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 0.49 % 1.06 % 0.03 %
Tracking Error
Alpha -0.08 %
Correlation coefficient 0.10 % -0.15 %
Max. monthly loss -0.52 %
Max. monthly gain 0.77 %
Max. drawdown -0.69 % -2.13 %
Beta -5.87 %

Fund information

Inception Date (Fund)
14/05/2007
Inception Date (Part)
11/08/2009
Legal form
Mutual Fund
Benchmark
EONIA Capitalise (EUR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
10000000.00 EUR
ISIN Code
FR0010773614
AuM (fund)
741 M (EUR)
Regulatory authority
AMF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
0,250 %
Current management fee
0.250 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Performance fee
15,000 %

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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