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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Millesima 2021 Corporate bonds

Corporate bonds
Change in NAV (19/01/2018)
110.86 EUR
Raphaël  CHEMLA–FR0013076494–
Raphaël CHEMLA
Julie GUALINO-DALY–FR0013076494–
Julie GUALINO-DALY
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
110.86 EUR
Change in NAV (19/01/2018)
3
1234567
Risk and reward profile
Recommended holding period
Change in NAV (19/01/2018)
110.86 EUR
Risk and reward profile
1234567
Recommended holding period
Raphaël CHEMLA  
Julie GUALINO-DALY  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The management objective is to obtain an annual performance, net of management fees, exceeding 4.4% over the recommended holding period, i.e. from the Fund's launch date to 31 December 2021.

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Commentary 29/12/2017

The leading central banks gave their take in the first fortnight of December on the state of the economy, growth prospects and inflation expectations. What is really interesting is that fundamentally, in both the euro zone and the United States, central bankers believe that growth will accelerate in 2018 thanks to better fundamentals in Europe and the tax reform passed by the US Congress. However, central bankers no longer believe that inflation will reach higher levels in 2018, which is quite surprising. This attitude may explain a rise in world interest rates, notably from 0.30% to 0.43% on the 10-year German bund and from 2.14% to 2.22% on the US 5-year Treasury note. The High Yield market was flat on the month, with Xover opening and closing at 230bp. Construction and Materials was the stellar outperformer this month whereas Technology and Healthcare underperformed the most. B notes rebounded (+0.3%) and came ahead of BB (-0.20%) and CCC (-0.3%). Altice Bonds were the top performers in December, followed by Valeant and OL bonds. The High Yield market ends 2017 with a strong performance of 5.8%, with a recorded year on primary side (EUR 100bn gross).

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Change in NAV

Chart – Base 100 (19/01/2018)
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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 E-EUR Cumulative Annualised
Since 01/01/2018

0.18 %

0.18 %

1 Year

2.75 %

2.75 %

Since inception

10.87 %

5.64 %

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

Share class (E-EUR)

Benchmark

0.18 %

2.75 %

10.87 %

Annualised

Share class (E-EUR)

Benchmark

2.75 %

5.64 %

*Rolling periods

Annual performance



Statistics

VolatilityMax. drawdown
Share class E-EURBenchmarkShare class E-EURBenchmark
1 Year*1.40 %-0.98 %
3 Year *
Max. monthly gain Since inception2.12 %
Max. monthly loss Since inception-2.33 %
Share class E-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 1.40 %
Tracking Error
Max. monthly loss -2.33 %
Max. monthly gain 2.12 %
Max. drawdown -0.98 %

Fund information

Inception Date (Fund)
25/01/2016
Inception Date (Part)
04/03/2016
Legal form
Mutual Fund
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0013076494
AuM (fund)
250 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
1,400 %
Current management fee
1.400 %
Subscription fee
4.00 % 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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