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 2024 Corporate bonds

Corporate bonds
Change in NAV (08/11/2018)
1,224.68 EUR
Raphaël  CHEMLA–FR0011255207–
Raphaël CHEMLA
Julie GUALINO-DALY–FR0011255207–
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
1,224.68 EUR
Change in NAV (08/11/2018)
2
1234567
Risk and reward profile
Recommended holding period
Change in NAV (08/11/2018)
1,224.68 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

MILLESIMA 2024 aims, over its recommended investment period, to achieve performance linked to trends on the international fixed-income markets, particularly through exposure to high-yield securities maturing in December 2024 at the latest.

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Commentary 31/10/2018

Investors' concerns regarding economic growth increased in October on fears that global growth may slow due to trade tension and impacts of emerging markets. The IMF lowered its economic forecast and warned that growth in some of the biggest economies may have already peaked. The Italian risk continued to weight on the market with a one notch downgrade by Moody's for the sovereign rating which remains investment grade. In this context, European High Yield spreads widened by 52 basis points versus government bonds and thus posted a -0.97% loss over the month. Naturally, in this risk aversion move, lower rated bonds sharply underperformed BB's. All sectors had a negative performance excepted Media which posted a 0.3% of total return.On the primary market Warner Music Group (B1/B3) issued €250 million of a 8 years maturity bond with a 3.625% coupon, El Corte Inglès (Ba1/BB) issued a 6 years bonds with a coupon of 3% for an amount of €600 million, Playtech (B2) issued € 530 million of a 5 years bond with a 3% coupon, Rossini (B2/B) issued €1.3 billion through one 6.75% coupon tranche and one variable coupon tranche. Netflix (BB-) issued €1.1 billion and $800 million with respective coupons of 4.625% and 6.375% over a maturity of 11 years.

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Change in NAV

Chart – Base 100 (08/11/2018)
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 I-EUR Cumulative Annualised

-0.59 %

0.99 %

1.92 %

Since inception

22.47 %

3.20 %

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

Share class (I-EUR)

Benchmark

22.47 %

Annualised

Share class (I-EUR)

Benchmark

-0.59 %

0.99 %

1.92 %

3.20 %

*Rolling periods

Annual performance



Statistics

VolatilityMax. drawdown
Share class I-EURBenchmarkShare class I-EURBenchmark
1 Year*2.20 %-2.18 %
3 Year *1.78 %-2.19 %
Max. monthly gain Since inception1.74 %
Max. monthly loss Since inception-2.13 %
Share class I-EUR
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 2.20 % 1.78 %
Tracking Error
Max. monthly loss -2.13 %
Max. monthly gain 1.74 %
Max. drawdown -2.18 % -2.19 %

Fund information

Inception Date (Fund)
01/06/2012
Inception Date (Part)
01/06/2012
Legal form
Mutual Fund
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1000000.00 EUR
ISIN Code
FR0011255207
AuM (fund)
83 M (EUR)
Regulatory authority
AMF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
0,350 %
Current management fee
0.350 %
Subscription and redemption conditions
Daily before 11.00 am C.E.T. on day's net asset value
Subscription fee
4.00 % max
Redemption 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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