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EdR Tricolore Europe equities

Europe equities
Change in NAV (23/05/2017)
184.00 EUR
Pierre  NEBOUT–FR0010902718–
Pierre NEBOUT
Marc HALPERIN–FR0010902718–
Marc HALPERIN
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
184.00 EUR
Change in NAV (23/05/2017)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (23/05/2017)
184.00 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Pierre NEBOUT  
Marc HALPERIN  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The fund's management aim, over a recommended investment period exceeding five years, is to grow its NAV through investments primarily made on the French equity markets.

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Commentary 28/04/2017

The first round of the French presidential elections lifted the political risk premium weighing down on the market in France. Now the market can re-focus on the fundamentals. And they're looking good. Leading indicators from all the euro zone countries point to an acceleration of growth under way, backed up by a chain of quarterly earnings reports, and in particular, the organic growth apparent. The market is bargaining on a defeat for Marine Le Pen (lower risk premium), but not yet a victory for Emmanuel Macron. This in the sense that at this stage the market is not buying wholesale into either the dynamics of earnings growth, or the prospect of reform in France (privatisation, reduced labour costs, reduced business taxation and tax simplification when it comes to savings). The market can reasonably pause, particularly given the valuations reached, and wait for an exit upstream from doubts over US reflation and the necessary changes to the ECB's line — namely less political risk and vigour in euro zone growth, which warrants an adjustment to the discourse on interest rate levels and/or an end to QE. What's more, the election is heightening market visibility in two steps: Rebalancing performance in favour of France and the euro zone on the earnings momentum behind market leaders, and also exploiting new opportunities for reform in France, which could in turn re-boot European integration. Dans ce contexte, quelques prises de bénéfices ont été prises sur des dossiers qui se sont bien revalorisés comme Tarkett, Airbus, Edenred, Ubisoft.

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Change in NAV

Chart – Base 100 (23/05/2017)
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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

Performance I-EUR Cumulative Annualised
Since 01/01/2017 15.22 % 15.22 %
1 Year 29.73 % 29.73 %
3 Year 31.35 % 9.51 %
5 year 119.70 % 17.04 %
Since inception 84.00 % 9.10 %
Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

15.22 %

29.73 %

31.35 %

119.70 %

84.00 %

Annualised

29.73 %

9.51 %

17.04 %

9.10 %



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class I-EUR15.65 %16.08 %4.95 %4.49 %0.95 %0.96 %0.74 %0.06 %1.58 %0.60 %
Benchmark14.09 %14.40 %
Max. monthly lossMax. monthly gainMax. drawdownAlphaBeta
Since inceptionSince inception1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class I-EUR-26.16 %16.34 %-14.55 %-26.80 %0.04 %-0.02 %1.05 %1.08 %
Benchmark
Share class I-EUR
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 15.65 % 16.08 % 14.09 % 14.40 %
Tracking Error 4.95 % 4.49 %
Sharpe ratio 1.58 % 0.60 %
Alpha 0.04 % -0.02 %
Correlation coefficient 0.95 % 0.96 %
Information ratio 0.74 % 0.06 %
Max. monthly loss -26.16 %
Max. monthly gain 16.34 %
Max. drawdown -14.55 % -26.80 %
Beta 1.05 % 1.08 %

Fund information

Inception Date (Fund)
30/11/2006
Inception Date (Part)
24/05/2010
Legal form
Mutual Fund
Benchmark
SBF 120 (NR)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
500000.00 EUR
ISIN Code
FR0010902718
AuM (fund)
17 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
1,000 %
Current management fee
1.000 %
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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