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 (19/04/2018)
103.16 USD
Benjamin  MELMAN–FR0011050400–
Benjamin MELMAN
Eliezer BENZIMRA–FR0011050400–
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
103.16 USD
Change in NAV (19/04/2018)
2
1234567
Risk and reward profile
18 months
Recommended holding period
Change in NAV (19/04/2018)
103.16 USD
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 29/03/2018

March saw US President Trump issuing protectionist statements, announcing new taxes on steel and aluminium imports, and raising concerns of a trade war with China. This set off a wave of risk aversion leading to a fall in equity and credit markets. In contrast, these announcements supported the sovereign bond markets, which tightened 18 bps and 13 bps in March on the 10-year German bund and US T-Note. The US Federal Reserve has confirmed the expected hike of 25 bps in its key rates. It's comments indicate that while the key scenario calls for two more rate hikes in 2018, a third is possible unless the rise in inflation, expected to reach just beyond the 2% target, threatens a sharp acceleration in the schedule. This strengthened the flattening trend between the long-term vs 2-year issues in Europe; and between the 2- and 5-year issues in the United States. Figures on European inflation, which fell short of expectations, also contributed to European bond outperformance. Supported by Germany's confirmation of a grand coalition agreement, which put Europe in the spotlights, peripheral bonds outperformed sovereign bond markets, tightening close to 40 bps on Spain's 10+ year issues. Despite elections giving populist parties a large majority, Italian bonds followed the trend, though to a lesser extent.

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Change in NAV

Chart – Base 100 (19/04/2018)
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 P-USD Cumulative Annualised
Since 01/01/2018

0.39 %

0.45 %

0.39 %

0.45 %

1 Year

1.96 %

1.23 %

1.96 %

1.23 %

Since inception

3.16 %

1.62 %

1.86 %

0.96 %

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

Share class (P-USD)

Benchmark

0.39 %

0.45 %

1.96 %

1.23 %

3.16 %

1.62 %

Annualised

Share class (P-USD)

Benchmark

1.96 %

1.23 %

1.86 %

0.96 %

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
14/05/2007
Inception Date (Part)
11/08/2016
Legal form
Mutual Fund
Benchmark
Federal Funds Effective Rate capitalise
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0011050400
AuM (fund)
735 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
0,750 %
Current management fee
0.750 %
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
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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