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Zénith Sécurité Formula Funds

Formula Funds
Change in NAV (14/08/2017)
113.03 EUR
Valentin  ROUTIER–FR0010841247–
Valentin ROUTIER
Thomas IGNACZAK–FR0010841247–
Thomas IGNACZAK
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
8 years from 17 May 2010
113.03 EUR
Change in NAV (14/08/2017)
0
1234567
Risk and reward profile
8 years from 17 May 2010
Recommended holding period
Change in NAV (14/08/2017)
113.03 EUR
Risk and reward profile
1234567
Recommended holding period
8 years from 17 May 2010
Valentin ROUTIER  
Thomas IGNACZAK  
The identity of the managers presented in this document may change during the life of the product.
Contact

Investment objective

The Fund's objective is to allow unitholders to benefit from a full capital guarantee upon maturity and a performance defined by a formula linked to the Eurostoxx 50 index over an investment horizon of eight years. Since 17 May 2010, the average annual performance of the Eurostoxx 50 index is calculated each year by replacing negative performance with 0% (the “Average Performance”). If, on the Fund's anniversary date, this average is higher than 40%, the Fund's final performance will not exceed: a “Minimum Final Performance” of 40%, or an annual rate of return of 4.30%, and 70% of the average annual performance of the Eurostoxx 50 index, calculated since the start of the Fund in year 8 by replacing negative performance with 0%. If the Average Performance at an anniversary date was never higher than 40%, the Fund's final performance will be equal to 70% of the average performance of the Eurostoxx 50 index calculated since the start of the Fund in year 8 by replacing negative performance with 0%.

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Commentary 31/03/2017

Equity markets delivered widely differing performances for the last month of Q1 2017. European equities climbed +5.7% while US and Japanese markets ended up near break-even, at +0.1% and -0.5%, respectively. In Europe, the Dutch Prime Minister's conservative party won the parliamentary elections, beating the far right. This was reassuring for investors worried about the possible spread of the populist trend begun in 2016. It had been symbolised by the Brexit referendum last June, and Theresa May officially triggering the UK's exit process a few days before March's end. In the United States, the Federal Reserve focused all attention this month by opting to raise its key rates +0.25%, its second hike since Donald Trump's election. This new step by the US central bank coincided with Congress's rejection of the Obamacare replacement bill — a first failure for the Trump administration, raising doubts over the latter's ability to implement his proposed reforms. Meanwhile, on both sides of the Atlantic, the positive momentum driving economic indicators has continued, as reflected by consumer confidence levels in the United States and climbing PMI indices in Europe. In Japan, the central bank has announced continuation of its QE programme while noting a widespread rebound in economic activity. Meanwhile, emerging equity markets have continued their new-year uptrend, to post a +1.9% gain in local currency. The emerging world is benefiting from the acceleration in corporate earnings growth, a sharp decline in the USD over the period (-0.80% against the euro), and easing US long-term interest rates. Like the interest rates of leading developed countries, the US's 10-year rate ended the month below its 2.40% threshold after hitting a high at 2.62%. Despite a distinct rebound at the month end, US oil prices recorded a significant fall in March (WTI -7%).

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Change in NAV

Chart – Base 100 (14/08/2017)
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 Cumulative Annualised
Since 01/01/2017

0.45 %

4.87 %

0.45 %

4.87 %

1 Year

1.08 %

15.68 %

1.06 %

15.41 %

3 Year

0.87 %

13.23 %

0.29 %

4.21 %

5 year

8.04 %

42.83 %

1.56 %

7.38 %

Since inception

13.03 %

31.12 %

1.64 %

3.67 %

Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative

Share class ()

Benchmark

0.45 %

4.87 %

1.08 %

15.68 %

0.87 %

13.23 %

8.04 %

42.83 %

13.03 %

31.12 %

Annualised

Share class ()

Benchmark

1.06 %

15.41 %

0.29 %

4.21 %

1.56 %

7.38 %

1.64 %

3.67 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class BenchmarkShare class BenchmarkShare class BenchmarkShare class BenchmarkShare class Benchmark
1 Year*1.76 %11.47 %9.70 %0.97 %-1.56 %1.45 %
3 Year *3.95 %15.61 %11.99 %0.93 %-0.28 %0.23 %
Max. drawdownAlphaBeta
Share class BenchmarkShare class BenchmarkShare class Benchmark
1 Year*-1.01 %-0.02 %0.15 %
3 Year *-8.82 %-0.08 %0.24 %
Max. monthly gain Since inception4.01 %
Max. monthly loss Since inception-5.17 %
Share class
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 1.76 % 3.95 % 11.47 % 15.61 %
Tracking Error 9.70 % 11.99 %
Sharpe ratio 1.45 % 0.23 %
Alpha -0.02 % -0.08 %
Correlation coefficient 0.97 % 0.93 %
Information ratio -1.56 % -0.28 %
Max. monthly loss -5.17 %
Max. monthly gain 4.01 %
Max. drawdown -1.01 % -8.82 %
Beta 0.15 % 0.24 %

Fund information

Inception Date (Fund)
05/02/2010
Inception Date (Part)
05/02/2010
Legal form
Mutual Fund
Benchmark
STOXX 50 (PI)
Currency (fund)
EUR
Currency (share class)
EUR
Distribution Policy
Accumulation
Valuation frequency
Weekly
Minimum initial investment
1 Share
ISIN Code
FR0010841247
AuM (fund)
5 M (EUR)
Regulatory authority
AMF
Management company
Edmond de Rothschild Asset Management (France)
Incorporation
France
Maximum management fee
1,500 %
Current management fee
1.500 %
Subscription and redemption conditions
Every Monday before 12.00 p.m. at the day’s NAV
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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