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EdR USD Corporate Short Term Corporate bonds

Corporate bonds
Change in NAV (20/04/2017)
1,134.95 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
1,134.95 USD
Change in NAV (20/04/2017)
2
1234567
Risk and reward profile
> 6 months
Recommended holding period
Change in NAV (20/04/2017)
1,134.95 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 28/02/2017

US credit markets continued to rebound from Q4-16 losses. Corporate credit spreads in the US tightened 11bps during the month, buoyed by a slowdown in primary issuance after a record January. Following this good performance, US IG corporate credit spreads are now tighter than their European counterparts for the first time since the European sovereign debt crisis. The US 10-year government yield closed the month at 2.40%, 6bps lower. Overall, economic numbers have been good but there is a growing divergence between confidence and job stats that have been fueling multi-year highs since Trump's election and inflation numbers that show little sign of acceleration. All in all, the market reckons that the state of the US economy is getting closer to the FED's objectives and the odds of rate hike in March went from 30% to 50% in February. In terms of sector, Basic Materials was again the best performer while Leisure underperformed.

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Change in NAV

Chart – Base 100 (20/04/2017)
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

Performance C-USD Cumulative performance Annualised performance
Since 01/01/2017 0.22 %  
1 Year 0.45 % 0.45 %
3 Year 0.81 % 0.27 %
5 year 1.60 % 0.32 %
Since inception 13.50 % 1.12 %
Performance C-USD Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance 0.22 % 0.45 % 0.81 % 1.60 % 13.50 %
Annualised performance 0.45 % 0.27 % 0.32 % 1.12 %


Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year
Share class C-USD0.20 %0.29 %0.20 %0.29 %0.13 %0.19 %-0.17 %0.16 %-0.01 %
Benchmark0.02 %0.06 %
Max. monthly lossMax. monthly gainMax. drawdownBeta
Since inceptionSince inception1 Year3 Year 1 Year3 Year
Share class C-USD-2.31 %1.59 %-0.11 %-0.46 %1.26 %0.99 %
Benchmark
Share class C-USD
Benchmark
1 Year 3 Year 1 Year 3 Year
Volatility 0.20 % 0.29 % 0.02 % 0.06 %
Tracking Error 0.20 % 0.29 %
Sharpe ratio -0.01 %
Correlation coefficient 0.13 % 0.19 %
Information ratio -0.17 % 0.16 %
Max. monthly loss -2.31 %
Max. monthly gain 1.59 %
Max. drawdown -0.11 % -0.46 %
Beta 1.26 % 0.99 %

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)
88 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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