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EdR USD Corporate Short Term Corporate bonds

Corporate bonds
Change in NAV (22/06/2017)
1,135.89 USD
Raphaël  CHEMLA–FR0010263590–
Raphaël CHEMLA
Julien deSAUSSURE–FR0010263590–
Julien deSAUSSURE
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
> 6 months
1,135.89 USD
Change in NAV (22/06/2017)
2
1234567
Risk and reward profile
> 6 months
Recommended holding period
Change in NAV (22/06/2017)
1,135.89 USD
Risk and reward profile
1234567
Recommended holding period
> 6 months
Raphaël CHEMLA  
Julien deSAUSSURE  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The goal of the mutual fund is to outperform the 6-12 month Federal Funds Effective Rate index. Within an investment-grade-bond based portfolio in USD, the manager can decide between sensitivity from 0 to 1.5, inclusive, and a credit risk from issuers chosen by fundamental analysis.

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Commentary 31/05/2017

The US bond markets performed positively in May. To the contrary of the Eurozone, political risk increased in the US, as President Trump's reflationary program seems harder and longer to implement. Although the employment picture remained robust, other activity indicators such as the ISM disappointed. A Fed hike in June already priced in, the market was looking for, and received, reassurance from the Fed that the balance sheet reduction will be extremely gradual. The yield of the 10 year Treasury went from 2.29% to 2.20%.The CDX IG CDS index went from 64 to 61 as credit sectors tightened in, across all major sectors. Several events in Europe also helped the US market, as the election of Mr Macron in France, as well as the ECB signaling no indication of a change in their monetary policy stance helped to boost bond markets globally.

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Change in NAV

Chart – Base 100 (22/06/2017)
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 C-USD Cumulative Annualised
Since 01/01/2017

0.30 %

0.38 %

0.30 %

0.38 %

1 Year

0.47 %

0.60 %

0.47 %

0.60 %

3 Year

0.86 %

0.96 %

0.28 %

0.32 %

5 year

1.79 %

1.19 %

0.36 %

0.24 %

Since inception

13.59 %

14.80 %

1.12 %

1.21 %

Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

Share class (C-USD)

Benchmark

0.30 %

0.38 %

0.47 %

0.60 %

0.86 %

0.96 %

1.79 %

1.19 %

13.59 %

14.80 %

Annualised

Share class (C-USD)

Benchmark

0.47 %

0.60 %

0.28 %

0.32 %

0.36 %

0.24 %

1.12 %

1.21 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class C-USDBenchmarkShare class C-USDBenchmarkShare class C-USDBenchmarkShare class C-USDBenchmarkShare class C-USDBenchmark
1 Year*0.18 %0.03 %0.18 %0.12 %-0.37 %-0.01 %
3 Year *0.27 %0.07 %0.26 %0.29 %-0.19 %
Max. drawdownAlphaBeta
Share class C-USDBenchmarkShare class C-USDBenchmarkShare class C-USDBenchmark
1 Year*-0.10 %0.76 %
3 Year *-0.46 %-0.01 %1.12 %
Max. monthly gain Since inception1.59 %
Max. monthly loss Since inception-2.31 %
Share class C-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 0.18 % 0.27 % 0.03 % 0.07 %
Tracking Error 0.18 % 0.26 %
Sharpe ratio -0.01 %
Alpha -0.01 %
Correlation coefficient 0.12 % 0.29 %
Information ratio -0.37 % -0.19 %
Max. monthly loss -2.31 %
Max. monthly gain 1.59 %
Max. drawdown -0.10 % -0.46 %
Beta 0.76 % 1.12 %

Fund information

Inception Date (Fund)
28/12/2005
Inception Date (Part)
28/12/2005
Legal form
Mutual Fund
Benchmark
Federal Funds Effective Rate capitalise
Currency (fund)
USD
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0010263590
AuM (fund)
42 M (USD)
Regulatory authority
AMF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
0,500 %
Current management fee
0.500 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
1.00 % max

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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