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 Tricolore Rendement Europe equities

Europe equities
Change in NAV (20/06/2018)
165.64 EUR
Pierre  NEBOUT–FR0010594325–
Pierre NEBOUT
François BRETON–FR0010594325–
François BRETON
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
165.64 EUR
Change in NAV (20/06/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (20/06/2018)
165.64 EUR
Risk and reward profile
1234567
Recommended holding period
> 5 years
Pierre NEBOUT  
François BRETON  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

Over a recommended investment period of more than five years, the UCITS is managed with the aim of achieving net asset value growth by investing primarily in French companies whose valuation characteristics indicate that they are likely to perform strongly. The selection criteria will be outlined in the investment strategy.

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Commentary 31/05/2018

At the beginning of the year the euro zone showed a consensus on what equity exposure should be favoured. It sought a solid recovery cycle, supported by positive financial conditions, waning political risk in the wake of Macron's election, while making the euro more attractive for non-residents. The economic cycle in the United States (driven by tax support measures and immediately reflected in US corporate earnings growth) as well as its monetary cycle (with monetary tightening and reductions in the Federal Reserve's balance sheet) gave a positive surprise. Long-term interest rates turned upwards, crossing the 3% threshold, while the USD reversed its downtrend. The first victims were the debt-laden emerging economies: Argentina, Turkey and Brazil. Moreover, the acceleration in US momentum contrasted with the slowdown seen in leading indicators in the euro zone. The downgrading of the euro zone was worsened by the re-emergence of political risk to the European project (with the Italian, and to a lesser extent, Spanish political crises). This was immediately sanctioned by widening rate spreads between the European periphery and Germany. And it spread to the credit market, and financial debt in particular. The sector hierarchy was resolved, in a global market that was relatively unaffected. Sharp falls in the financial and domestic sectors were off-set by a good performance in the quality, export and technology sectors. The portfolio suffered from its domestic positioning (absence of luxury sectors and quality defensive exporters), despite sales made in mid-May to restore the cash position to 8% (with reductions in Nokia, Alstom, Thales, Fortum, Metro and Engie). We remain convinced that the portfolio's heavily restructured companies should benefit from the leverage effect in the economy, which, if it stops accelerating, will nevertheless remain at high levels. And also from a weaker euro. Indeed, we reckon believe the ECB will probably be more complacent on the timing of an end to its accommodative policy.

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Change in NAV

Chart – Base 100 (20/06/2018)
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 I-EUR Cumulative Annualised
Since 01/01/2018

-1.19 %

3.20 %

-1.19 %

3.20 %

1 Year

-2.88 %

4.20 %

-2.88 %

4.20 %

3 Year

14.86 %

21.58 %

4.72 %

6.72 %

5 year

59.64 %

68.37 %

9.80 %

10.98 %

Since inception

65.64 %

39.71 %

5.08 %

3.34 %

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

Share class (I-EUR)

Benchmark

-1.19 %

3.20 %

-2.88 %

4.20 %

14.86 %

21.58 %

59.64 %

68.37 %

65.64 %

39.71 %

Annualised

Share class (I-EUR)

Benchmark

-2.88 %

4.20 %

4.72 %

6.72 %

9.80 %

10.98 %

5.08 %

3.34 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmark
1 Year*11.22 %12.56 %3.92 %0.95 %-1.71 %0.32 %
3 Year *13.30 %13.67 %4.01 %0.96 %-0.44 %0.42 %
Max. drawdownAlphaBeta
Share class I-EURBenchmarkShare class I-EURBenchmarkShare class I-EURBenchmark
1 Year*-7.42 %-0.12 %0.85 %
3 Year *-22.84 %-0.11 %0.93 %
Max. monthly gain Since inception14.79 %
Max. monthly loss Since inception-21.88 %
Share class I-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 11.22 % 13.30 % 12.56 % 13.67 %
Tracking Error 3.92 % 4.01 %
Sharpe ratio 0.32 % 0.42 %
Alpha -0.12 % -0.11 %
Correlation coefficient 0.95 % 0.96 %
Information ratio -1.71 % -0.44 %
Max. monthly loss -21.88 %
Max. monthly gain 14.79 %
Max. drawdown -7.42 % -22.84 %
Beta 0.85 % 0.93 %

Fund information

Inception Date (Fund)
04/12/1998
Inception Date (Part)
16/04/2008
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
FR0010594325
AuM (fund)
1,456 M (EUR)
Regulatory authority
AMF
EU Regulation
UCITS
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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