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 US Growth US equities

US equities
Change in NAV (12/01/2018)
348.07 USD
Alex  FARMAN-FARMAIAN (Edgewood Management LLC)–FR0010675603–
Alex FARMAN-FARMAIAN (Edgewood Management LLC)
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
348.07 USD
Change in NAV (12/01/2018)
5
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (12/01/2018)
348.07 USD
Risk and reward profile
1234567
Recommended holding period
> 5 years
Alex FARMAN-FARMAIAN (Edgewood Management LLC)  
 
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The UCITS' management objective is to outperform its benchmark index through exposure to North American equity markets, selecting securities on a discretionary basis from an investment universe comparable to that of the benchmark.

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Commentary 29/12/2017

While the appreciation of FANG (Facebook, Amazon, Netflix and Google) stocks gets much press, the US stock market has had much breadth in its rise this year. Note that the dowdy Dow Jones 30 Industrials Index was up an impressive +27.2% for the year and a scorching +10.8% in the Fourth Quarter. The stronger than expected economic news coupled with the freshly passed tax law has favored most US companies by materially reducing the corporate tax rate they pay. This promises to drive-up the after tax net income accruing to shareholders for the upcoming 2018 year and forward. It will likely affect industries and businesses differently, but in general it will boost profits. The stock market was certainly not blind to either of these factors, which explains some of the strong appreciation we enjoyed this year. Looking forward some are beginning to wonder how long this bullish appreciation can continue. Obviously no one can tell, although there is never any shortage of well-informed opinions. Here are some of the fundamentals that underpin the stock market today.First and foremost the Federal Reserve remains cautious but dovish due to the current lack of inflation, and monetary conditions are still somewhat accommodative. Second, US company profits clearly continue to improve, even if one strips-out the upward bump from the just legislated reduction in tax rates. Third, although strange to say, public appetite for equities remains very muted, with continued outflows from combined domestic equity mutual funds and ETFs even during this bullish year. Lastly, from a purely technical stock point of view, it seems there is solid “breadth” in the number of stocks that are rising and it is not just a few doing all the work to boost the indices. Add to the aforementioned that the select companies in the portfolio have long-term earnings growth prospects that in aggregate we estimate could be some +18% annually over the next few years. They are also generally non-cyclical and have, what we deem, excellent and time-tested management teams at their helms. Although surely we will see some ups and downs in the periods ahead, all of the above factors lead us to continue to be cautiously optimistic for the long-term.

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Change in NAV

Chart – Base 100 (12/01/2018)
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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 A-USD Cumulative Annualised
Since 01/01/2018

5.97 %

4.26 %

5.97 %

4.26 %

1 Year

32.70 %

24.44 %

32.70 %

24.44 %

3 Year

50.36 %

44.23 %

14.55 %

12.97 %

5 year

112.38 %

104.29 %

16.24 %

15.34 %

Since inception

248.07 %

279.42 %

14.67 %

15.76 %

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

Share class (A-USD)

Benchmark

5.97 %

4.26 %

32.70 %

24.44 %

50.36 %

44.23 %

112.38 %

104.29 %

248.07 %

279.42 %

Annualised

Share class (A-USD)

Benchmark

32.70 %

24.44 %

14.55 %

12.97 %

16.24 %

15.34 %

14.67 %

15.76 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmark
1 Year*8.17 %5.54 %5.14 %0.78 %1.88 %3.64 %
3 Year *12.78 %10.00 %5.79 %0.90 %0.12 %1.04 %
Max. drawdownAlphaBeta
Share class A-USDBenchmarkShare class A-USDBenchmarkShare class A-USDBenchmark
1 Year*-3.17 %0.10 %1.15 %
3 Year *-18.17 %-0.05 %1.15 %
Max. monthly gain Since inception15.54 %
Max. monthly loss Since inception-16.07 %
Share class A-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 8.17 % 12.78 % 5.54 % 10.00 %
Tracking Error 5.14 % 5.79 %
Sharpe ratio 3.64 % 1.04 %
Alpha 0.10 % -0.05 %
Correlation coefficient 0.78 % 0.90 %
Information ratio 1.88 % 0.12 %
Max. monthly loss -16.07 %
Max. monthly gain 15.54 %
Max. drawdown -3.17 % -18.17 %
Beta 1.15 % 1.15 %

Fund information

Inception Date (Fund)
05/12/2008
Inception Date (Part)
05/12/2008
Legal form
Mutual Fund
Benchmark
S&P 500 (NR)
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010675603
AuM (fund)
254 M (USD)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
EDGEWOOD
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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