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 (21/02/2018)
137.02 USD
Pierre  NEBOUT–FR0010998179–
Pierre NEBOUT
François BRETON–FR0010998179–
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
137.02 USD
Change in NAV (21/02/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (21/02/2018)
137.02 USD
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 31/01/2018

European equity indices posted a marked uptrend in January, thanks to a global economic momentum that remains sustained, synchronous, and reinvigorated by tax reforms in the United States that will prolong the US cycle. The IMF has announced an upgrade to its economic outlook, and the political horizon is clearing up in Germany following a coalition government deal between the SPD and CDU. Despite this buoyant environment, two key facts raise questions and are having some impact on the market trend. One is the rise in sovereign rates (with the 10-year US bond rate climbing from 2.4% at end 2017 to 2.7% at January's end, as well as the German bund up from 0.4% to around 0.7%). The other is the growing weakness manifested by the USD. The ongoing rise in sovereign rates on both sides of the Atlantic may be justified by an improvement in growth prospects, coupled with signs of renewed inflation. But the USD's decline raises more questions about its causes, its consequences (the euro's relative strength is cutting into some of the earnings growth European companies are enjoying), and its remedies. The ECB seems to have initially contributed to the euro's appreciation by hinting at a necessary adjustment to monetary policy given the improvement in the economic situation, before it becomes worrying. At the sector level, the outperformance posted by discounted financial and cyclical stocks reflects this reflationary trend. Meanwhile, M&A, and more generally business transformation activity, both remain strong. Successive bids such as Sanofi's for Bioverativ and Ablynx, Kering's Puma spin-off, and Altice Europe's US spin-off, Barcelo's offer on Spain's NH Hotel, and news of an ambitious transformation plan by Carrefour's new CEO Alexandre Bompard, among others, are in this flurry. Given this environment, the month's main movements were to strengthen the position on Altran, while reducing on Capgemni, Eiffage, Engie and Fnac-Darty after their robust contributions to portfolio performance.

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Change in NAV

Chart – Base 100 (21/02/2018)
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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 B-USD Cumulative Annualised
Since 01/01/2018

3.12 %

2.62 %

3.12 %

2.62 %

1 Year

28.22 %

30.85 %

28.22 %

30.85 %

3 Year

26.01 %

29.53 %

8.00 %

8.99 %

5 year

52.35 %

57.62 %

8.78 %

9.52 %

Since inception

37.02 %

43.66 %

4.55 %

5.26 %

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

Share class (B-USD)

Benchmark

3.12 %

2.62 %

28.22 %

30.85 %

26.01 %

29.53 %

52.35 %

57.62 %

37.02 %

43.66 %

Annualised

Share class (B-USD)

Benchmark

28.22 %

30.85 %

8.00 %

8.99 %

8.78 %

9.52 %

4.55 %

5.26 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class B-USDBenchmarkShare class B-USDBenchmarkShare class B-USDBenchmarkShare class B-USDBenchmarkShare class B-USDBenchmark
1 Year*12.32 %10.89 %3.46 %0.96 %-1.55 %3.16 %
3 Year *14.31 %13.98 %3.72 %0.97 %-0.26 %0.86 %
Max. drawdownAlphaBeta
Share class B-USDBenchmarkShare class B-USDBenchmarkShare class B-USDBenchmark
1 Year*-4.87 %-0.13 %1.09 %
3 Year *-22.10 %-0.06 %0.99 %
Max. monthly gain Since inception15.70 %
Max. monthly loss Since inception-19.37 %
Share class B-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 12.32 % 14.31 % 10.89 % 13.98 %
Tracking Error 3.46 % 3.72 %
Sharpe ratio 3.16 % 0.86 %
Alpha -0.13 % -0.06 %
Correlation coefficient 0.96 % 0.97 %
Information ratio -1.55 % -0.26 %
Max. monthly loss -19.37 %
Max. monthly gain 15.70 %
Max. drawdown -4.87 % -22.10 %
Beta 1.09 % 0.99 %

Fund information

Inception Date (Fund)
04/12/1998
Inception Date (Part)
28/01/2011
Legal form
Mutual Fund
Benchmark
SBF 120 (NR)
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010998179
AuM (fund)
1,565 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
2,000 %
Current management fee
2.000 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
3.00 % 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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