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 (20/04/2018)
366.23 EUR
Alex  FARMAN-FARMAIAN (Edgewood Management LLC)–FR0010688093–
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
366.23 EUR
Change in NAV (20/04/2018)
6
1234567
Risk and reward profile
> 5 years
Recommended holding period
Change in NAV (20/04/2018)
366.23 EUR
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 29/03/2018

The current market downdraft has been driven by consumer and investor unease with some of the major tech names namely the “FANG” stocks (Facebook, Amazon, Netflix and Google). These portfolio holdings helped power the very strong 1st quarter performance. We did trim some Netflix and Amazon due to high valuations and added to Facebook after the recent sell-off from its February peak. After much work and analysis, our thinking is that this storm will very likely pass, and that these companies' revenues and earnings will not be materially impacted. An overly detrimental regulatory framework is extremely difficult to imagine. Although possible, all the FANG companies are in very different businesses, and so one unified regulation would be tough to put in place. The Europeans are ahead of the U.S. with the upcoming May 25th implementation of the GDPR, as their citizens will have more control over their own personal data. All the companies we have spoken to, including Facebook, have said they are working on this and will be in compliance by the deadline. We believe that even if not mandated elsewhere, they are all taking self-regulation very seriously and will implement far more stringent data privacy controls. There will likely be negative headlines for a while and more “invasion of privacy” issues may surface at these companies. However, the stock prices have reacted accordingly and the valuations seem like they very much discount the worst case scenarios. Clearly we could be mistaken, but that is how it looks to us given our work on the individual names and their businesses. Earnings season is in full bloom in the next 2 weeks. We expect to hear a lot of managements speak about privacy, address investor unease and calm fears. Strong earnings results will also likely make markets focus on the underlying fundamentals of each business in the portfolio. The stock prices should reflect their long-term earnings' trajectory.

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Change in NAV

Chart – Base 100 (20/04/2018)
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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-EUR Cumulative Annualised
Since 01/01/2018

4.77 %

-1.94 %

4.77 %

-1.94 %

1 Year

9.34 %

0.76 %

9.34 %

0.76 %

3 Year

27.68 %

16.07 %

8.48 %

5.09 %

5 year

115.21 %

97.60 %

16.55 %

14.58 %

Since inception

266.21 %

276.73 %

14.84 %

15.19 %

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

Share class (B-EUR)

Benchmark

4.77 %

-1.94 %

9.34 %

0.76 %

27.68 %

16.07 %

115.21 %

97.60 %

266.21 %

276.73 %

Annualised

Share class (B-EUR)

Benchmark

9.34 %

0.76 %

8.48 %

5.09 %

16.55 %

14.58 %

14.84 %

15.19 %

*Rolling periods

Annual performance



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)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010688093
AuM (fund)
289 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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