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 USD Corporate Short Term Corporate bonds

Corporate bonds
Change in NAV (19/09/2018)
1,152.32 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
1,152.32 USD
Change in NAV (19/09/2018)
2
1234567
Risk and reward profile
> 6 months
Recommended holding period
Change in NAV (19/09/2018)
1,152.32 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 UCITS aims to outperform the Fed Funds Effective rate over the recommended investment period using a portfolio representing the opportunities available on the short-term corporate Investment Grade credit markets in US dollars.

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Commentary 31/07/2018

In July, credit spreads tightened significantly on the back of lower primary issuance as well as the return of risk appetite among investors. In this context, high beta names outperformed and within the Investment Grade universe BBB issuers were the best performers. In terms of sectors, technology, communications and staples led while cyclicals in general lagged in the wake of trade tensions between the US and the rest of the world.This good performance has been tempered by the rise in government yields with 10 year German bund ending the month at 0.44% (0.3% on the 30th of June) and 10 year US treasury yield at 2.96% (vs 2.86%). The ECB had a mildly dovish meeting. The Bank of Japan sent mixed signals. On one hand it cut its inflation forecast and reaffirmed its commitment to a very accommodative monetary policy but on the other hand it has allowed the 10 year yield to move in a wider range (+0.2% -0.2%) from its 0% target, which triggered a sell-off in JGBs. Despite critical tweets from the White House, the Fed is on course to keep hiking rates given the confirmed strength of the US economy. GDP grew 4.1% quarter-on-quarter, a strong print despite being slightly lower than consensus. Nevertheless both US and EUR IG corporate indices registered their best months of the year.

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Change in NAV

Chart – Base 100 (19/09/2018)
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

1.21 %

0.64 %

0.78 %

0.58 %

0.55 %

0.39 %

Since inception

15.23 %

15.86 %

1.12 %

1.16 %

Since 01/01/2018 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (C-USD)

Benchmark

15.23 %

15.86 %

Annualised

Share class (C-USD)

Benchmark

1.21 %

0.64 %

0.78 %

0.58 %

0.55 %

0.39 %

1.12 %

1.16 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioMax. drawdown
Share class C-USDBenchmarkShare class C-USDBenchmarkShare class C-USDBenchmarkShare class C-USDBenchmarkShare class C-USDBenchmark
1 Year*0.12 %0.04 %0.10 %0.65 %-3.41 %-0.03 %
3 Year *0.21 %0.16 %0.19 %0.52 %-0.33 %-0.18 %
AlphaBeta
Share class C-USDBenchmarkShare class C-USDBenchmark
1 Year*-0.04 %2.00 %
3 Year *0.02 %0.68 %
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 0.12 % 0.21 % 0.04 % 0.16 %
Tracking Error 0.10 % 0.19 %
Alpha -0.04 % 0.02 %
Correlation coefficient 0.65 % 0.52 %
Information ratio -3.41 % -0.33 %
Max. monthly loss -2.31 %
Max. monthly gain 1.59 %
Max. drawdown -0.03 % -0.18 %
Beta 2.00 % 0.68 %

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)
11 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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