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 (20/06/2018)
1,146.75 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
1,146.75 USD
Change in NAV (20/06/2018)
2
1234567
Risk and reward profile
> 6 months
Recommended holding period
Change in NAV (20/06/2018)
1,146.75 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 31/05/2018

May was an very weak month for corporate investment grade credit. US markets were led by Europe this month. May was dominated by the Italian political situation. Concerns over the new government sent European credit spreads sharply higher. At one point the Italian 2 year yield climbed to 3% (having started the month in negative yield territory). In addition, political developments in Spain, renewed tariffs by the U.S on some of its key economic allies, and continued weakness in Emerging markets due to the strength of the USD combined to reduce risk appetite and pushed investors into the safety of benchmark bonds. In this context the 10 year Treasury yield fell 11bps and the 10 year Bund yield fell 22bps. Credit spreads rose sharply. The Bloomberg Barclays EuroAgg Corporate 7-10 Year Avg Spread rose from 116bps to 149bps, putting spreads at a level last seen in early 2017. Financials underperformed. In the US market, the spread widening was more muted, with the JP Morgan JULI 7 to 10 spread index moving from 134bps to 144bps.

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Change in NAV

Chart – Base 100 (20/06/2018)
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
Since 01/01/2018

0.53 %

0.74 %

0.53 %

0.74 %

1 Year

0.97 %

1.37 %

0.97 %

1.37 %

3 Year

1.84 %

2.23 %

0.61 %

0.74 %

5 year

2.46 %

2.43 %

0.49 %

0.48 %

Since inception

14.68 %

16.36 %

1.10 %

1.22 %

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

Share class (C-USD)

Benchmark

0.53 %

0.74 %

0.97 %

1.37 %

1.84 %

2.23 %

2.46 %

2.43 %

14.68 %

16.36 %

Annualised

Share class (C-USD)

Benchmark

0.97 %

1.37 %

0.61 %

0.74 %

0.49 %

0.48 %

1.10 %

1.22 %

*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*0.11 %0.03 %0.10 %0.38 %-3.90 %-0.03 %
3 Year *0.22 %0.14 %0.20 %0.45 %-0.68 %-0.18 %
AlphaBeta
Share class C-USDBenchmarkShare class C-USDBenchmark
1 Year*-0.02 %1.37 %
3 Year *0.01 %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 0.11 % 0.22 % 0.03 % 0.14 %
Tracking Error 0.10 % 0.20 %
Alpha -0.02 % 0.01 %
Correlation coefficient 0.38 % 0.45 %
Information ratio -3.90 % -0.68 %
Max. monthly loss -2.31 %
Max. monthly gain 1.59 %
Max. drawdown -0.03 % -0.18 %
Beta 1.37 % 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)
13 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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