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 (18/02/2019)
99.19 EUR
Benjamin  MELMAN–FR0013307642–
Benjamin MELMAN
Eliezer BENZIMRA–FR0013307642–
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
99.19 EUR
Change in NAV (18/02/2019)
2
1234567
Risk and reward profile
18 months
Recommended holding period
Change in NAV (18/02/2019)
99.19 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 31/01/2019

January was coloured by the cautious tone adopted by central banks. The ECB pointed to downside risks to the economy with business indicators running at half-steam. Meanwhile, the US Federal Reserve confirmed that it was now in neutral gear on rate hikes, despite its benchmarks posting a better performance. Interest rates generally tightened with European curves flattening (-8 bps and -13 bps on 5- and 30-year German bonds). However, Italy was the exception, as its rates steepened in this tightening (down -26 bps and -6 bps on its 5- and 30-year bonds), together with the US yield curve (dipping -8 bps and -2 bps on the 5- and 30-year bond). In this environment, emerging, high yield, financial and peripheral debt outperformed. They were also supported by easing concerns over US-China trade negotiations and by particularly strong demand on the year's opening auctions, in particular in Spain (with more than €50 billion in demand) and Greece with a large new 5-year issue (exceeding €10 billion).

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Change in NAV

Chart – Base 100 (18/02/2019)
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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 CR-EUR Cumulative Annualised

-0.54 %

-0.36 %

Since inception

-0.81 %

-0.40 %

-0.73 %

-0.36 %

Since 01/01/2019 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (CR-EUR)

Benchmark

-0.81 %

-0.40 %

Annualised

Share class (CR-EUR)

Benchmark

-0.54 %

-0.36 %

-0.73 %

-0.36 %

*Rolling periods

Annual performance



Fund information

Inception Date (Fund)
14/05/2007
Inception Date (Part)
10/01/2018
Legal form
Mutual Fund
Benchmark
EONIA Capitalise (EUR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0013307642
AuM (fund)
625 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
0,500 %
Current management fee
0.500 %
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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