Edmond de Rothschild SICAV Euro Sustainable Credit.

Invest in corporate bonds with solid fundamentals and a sustainable approach.

EdRS Euro Sustainable Credit

Our
conviction

We believe that active management combined with a strict selection of issuers based on financial and sustainable criteria creates value over the long term.

Key
points

A fund dedicated to corporate bonds adopting a sustainable approach

High quality rating

(Min. 70% in Investment Grade bonds¹)

A comprehensive view of ESG challenges

(Environmental, Social and Governance)

2 years minimum investment horizon

Carries a risk of capital loss and credit risk

SFDR² classification Article 8

Why
invest?

A core allocation addressing two beliefs

Structural: Financing, according to the management company, European champions in exchange for a credit premium.

Periodic: Benefit from a renewed carry³ opportunities after a challenging 2022

Performance, resilience & reward

A long-term, track record (01/09/2015), highlighting the management team's ability to navigate through cycles⁴

Rewarded expertise: a 5-star Morningstar rating⁵ and a 5-leaves Climetrics rating⁶

Fund
presentation

Our purpose
Our investment approach and our success in implementing the best investment ideas are, in our view, a major factor of resilience in the context of market volatility and geopolitical instability. Indeed, our objective remains an outperformance against the benchmark with no additional risk. We therefore aim to select companies offering:

- Robust financial fundamentals over the long term.
- High extra-financial quality, assessed through our «Best-in-Universe»⁷ ESG analysis process.

In addition, the selection process aims to combine an attractive yield with a regular performance, in particular through active management of the modified duration.

Our approach
Our approach is based on the selection of top quality issuers.
Our fund managers draw on all the resources of the Fixed Income platform to extract, according to the management company, the best opportunities offered by the various credit segments: Investment Grade, High Yield (speculative bonds with a rating strictly below BBB- according to the Standard & Poor’s classification. The remuneration of these issues is high, but the default risk is higher), Financial subordinated debt⁸.

Finally, the portfolio has a minimum average rating of BBB-, i.e. an Investment Grade credit quality.

Main
investment risks

Risk Indicator

The risk indicator rates this fund on a scale of 1 to 7. This indicator is used to assess the level of risk of this product in comparison to other funds and a category 1 rating does not mean that the investment is risk free. In addition, it indicates the likelihood that this product will incur losses in the event of market movements or our inability to pay you.

This indicator assumes that you hold the product until the end of the recommended holding period of this fund. The actual risk may be very different if you choose to exit before the end of the recommended holding period of this Fund.

The risks described below are not exhaustive.

Risk of capital loss: The Sub-fund does not guarantee or protect the capital invested, so investors may not reco-ver the full amount of the capital they initially invested, even if they retain the shares for the duration of the recommended investment period.

Credit risk: The main risk linked to debt securities and/ or money market instruments such as treasury bills (BTFs and BTANs) or short-term negotiable securities is that of issuer default, due either to the non-payment of interest and/or the non repayment of capital. Credit risk is also associated with the downgrading of an issuer. Shareholders are reminded that the net asset value of the Sub-fund is likely to fall if a total loss is recorded on a financial instrument following default by an issuer. The inclusion of debt securities in the portfolio, whether directly or through UCIs, exposes the Sub-fund to the effects of variations in credit quality.

Credit risk linked to investment in speculative securi-ties: The Sub-fund may invest in issues from companies rated as non-investment grade by a rating agency (rating below BBB- from Standard & Poor’s or equivalent) or those with an equivalent internal rating from the Management Company. These issues are known as speculative securities and present a higher risk of issuer default. This sub-fund should therefore be considered partly specula-tive and as being aimed specifically at investors who are aware of the risks inherent in investing in such securities. As a result, the use of high-yield securities (speculative securities with a higher risk of issuer default) may incur a greater risk of a fall in the net asset value.

Interest rate risk: The exposure to interest rate products (debt securities and money market instruments) makes the sub-fund sensitive to interest rate fluctuations. In-terest rate risk might result in a fall in the value of the security and thus the net asset value of the sub-fund in the event of a change in the yield curve.

1. Investment Grade is a designation for low-risk bonds with financial ratings from AAA to BBB-. The default risk of these bonds is low and their yield is lower than high yield bonds.
2. SFDR classification: The investment policy of a fund may change over time and therefore its classification under the Sustainable Finance Disclosure Regulation (SFDR) may change. If you have any doubts about the SFDR classification of a fund, please contact your usual adviser. Article 8 SFDR: Article 8 funds under the Sustainable Finance Disclosure Regulation (SFDR): funds that promote environmental or social features.
3. Carry: A strategy that consists in holding bonds until their maturity, collecting the coupons over time, until they are repaid by the issuers at maturity. The interest of such a strategy lies in the visibility of the return, through the regular collection of coupons, as long as the investor holds the bonds from the beginning to the end of the strategy.
4. +5.16% (I-EUR share) versus -0.41% for the Bloomberg Barclays Euro Aggregate Corporates TR (EUR) index between 01/09/2015 and 30/12/2022. Past performance is not indicative of future performance and is not constant over time and may be independently affected by changes in exchange rates.
5. Morningstar ratings as at 30/12/2022 for the period “Overall” in the category “EUR Private Bonds” (I-EUR share).
6. Climetrics ratings as at 30/12/2022. Morningstar and Climetrics ratings are not market rankings and are not recommendations to buy, sell or hold units or shares of the funds managed by the Edmond de Rothschild Group. The reference to a ranking or price of this UCI does not prejudge the future rankings or prices of these UCIs or the manager.
7. Best-in-Universe: It consists in favouring the best-rated companies according to an extra-financial assessment, whatever their sector.
8. Subordinated debt: Subordinated debt is an unsecured bond that ranks below other, more senior bonds with respect to claims on assets or earnings. Subordinated debts are thus also known as junior securities. In the case of borrower default, creditors who own subordinated debt will not be paid out until after senior bondholders are paid in full.

For Swiss Investors: This marketing material is issued by Edmond de Rothschild (Suisse) S.A. located at 18 rue de Hesse, 1204 Geneva, Switzerland, a Swiss bank authorised and regulated by the Swiss Financial Market Supervisory Authority (“FINMA”). The “Edmond de Rothschild Fund” funds mentioned in this material are organized under the laws of Luxembourg and have been approved by the CSSF to be offered in Switzerland to non-qualified investors by the FINMA. This document is issued by Edmond de Rothschild Asset Management (France). This document is not legally binding. It is intended solely for information purposes. Any reproduction or use of all or part of its content is strictly prohibited without the authorisation of the Edmond de Rothschild Group. The information provided in this document shall not be construed as an offer or a solicitation to enter into a transaction in a jurisdiction in which said offer or solicitation would be illegal, or in which the person at the origin of this offer or solicitation is not authorised to act. This document does not constitute, nor shall it be interpreted as, investment, tax or legal advice or a recommendation to buy, sell or hold an investment. The Edmond de Rothschild Group may not be held liable for any investment or divestment decision made on the basis of the information contained in this document. This document has not been reviewed or approved by a regulator in any jurisdiction. The regulations on how an investment vehicle may be marketed vary by country. The UCIs presented herein may not be authorised for marketing in your country of residence. If you have the slightest doubt regarding your ability to subscribe to this UCI, we recommend that you speak to your usual advisor. The figures, comments, forecasts and other elements contained in this presentation reflect the views of the Edmond de Rothschild Group concerning the markets, their trends and regulations, in light of its expertise, the economic context and the information currently available. They may no longer be relevant at the time the investor reads them. As a result, the Edmond de Rothschild Group cannot be held liable for the quality or accuracy of information and economic data coming from third parties. Name of the asset management entities (including branches and subsidiaries) of the Edmond de Rothschild Group. Every investment carries specific risks. Investors should therefore ensure the suitability of any investment with respect to their personal circumstances, and when necessary seek independent advice. Furthermore, investors are advised to read the key information document (KID) and/or any other document required under local laws that is provided before subscription and available in French and English on the website under “Fund Center” or upon simple request free of charge. A summary of investors’ rights in French and English is available at the following link. Edmond de Rothschild Asset Management (France) may decide to cease marketing this Fund in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/ EU. Edmond de Rothschild Asset Management» or «EdRAM» is the trade name of the asset management entities of the Edmond de Rothschild Group.

Source of information: unless otherwise indicated, the sources used in this document are those of the Edmond de Rothschild Group.

CNMV registration number: 1801

GLOBAL DISTRIBUTOR AND SUB INVESTMENT MANAGER:
Edmond de Rothschild Asset Management (France)
47 rue du Faubourg Saint-Honoré / FR - 75401 Paris Cedex 08
Public limited company with Management Borad and Supervisory Board and a capital of 11,033,769 euros
AMF approval number GP 04000015 332.652.536 R.C.S. Paris

REPRESENTATIVE AND PAYING AGENT IN SWITZERLAND
EDMOND DE ROTHSCHILD (SUISSE) S.A.
Rue de Hesse 18 / CH - 1204 Geneva

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The regulations in each country regarding the marketing of a financial instrument vary depending on the country and your status (especially whether you are a professional client or equivalent). If you have any doubts about the marketing capability of this investment fund, we invite you to contact your usual advisor. No investment fund may be offered to a person if the law of their country of origin or any other country relevant to them or the product prohibits it. The content of the website has not been reviewed or approved by a regulator of any jurisdiction.
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The approved prospectuses and key information documents (KID) from the relevant country's regulator for the presented investment funds are freely available on the website. Other regulatory documents are available from the product’s management company. Any subscription to an investment fund or product should only be made after reviewing the relevant regulatory documents.
Edmond de Rothschild Asset Management (France) may receive commission rebates from entities of the Edmond de Rothschild Group in its capacity as the global distributor of investment funds. These rebates compensate Edmond de Rothschild Asset Management (France) for selecting and distributing the funds and represent part of the commissions stipulated in the fund’s prospectus (up to 50% of these commissions).

Absence of insurance or guarantee
All data and documents have been obtained from sources deemed reliable. However, the accuracy of this data and documents is not guaranteed. The data, comments, and analyses provided on this website reflect the opinion of the Edmond de Rothschild Group and its affiliated entities on markets, their developments, their regulation, and their taxation. This opinion is based on their expertise, economic analyses, and the information available to them at present. These data, comments, and analyses are subject to change without notice. The information provided on this website does not constitute any commitment or guarantee from the Edmond de Rothschild Group and its affiliated entities.

Risk Information
"Any investment carries specific risks. Potential investors should first consult their provider or advisor to form their own opinion on the risks inherent to each investment independently of the Edmond de Rothschild Group and its affiliated entities, in order to determine whether this investment is suitable for their financial and personal situation. Before making any investment decision, investors must review the relevant contractual documents, particularly the investment policies and risk factors. They must ensure they fully understand the risks associated with the investment and should also consider their own investment objectives and risk tolerance.
Risk of capital loss: There is a risk that investors may not recover the full amount invested.

Investment performance information
Past performance and volatility are not indicative of future performance and volatility and are not constant over time and may be independently affected by exchange rate fluctuations.
The indicated performances do not take into account costs and fees incurred during the issuance and redemption of shares but include ongoing fees, brokerage fees, and any performance fees charged. They also do not take into account any taxes imposed by the investor's country of residence.
The reference to a ranking or an award does not imply future rankings or awards for the financial instruments or the manager. If the figures expressed on this site are in a currency different from the country in which the investor resides, the gains received by the client may be increased or reduced depending on currency exchange fluctuations.

Legal Notices/Roles and Responsibilities
Edmond de Rothschild Asset Management (France) is a public limited company with an executive board and supervisory board, with a share capital of €11,033,769, headquartered at 47 rue du Faubourg Saint-Honoré, 75008 Paris, France. The company is registered with the Paris Trade and Companies Register under number 332 652 536 as a portfolio management company authorized by the Autorité des Marchés Financiers under number GP-04000015. Telephone: +33 1 40 17 25 25.
The publication director is Mr. Christophe Caspar, in his capacity as Head of the Group's Asset Management. The editor responsible for the Asset Management section of this website is Mr. Bruno Major, Marketing Director.
The website is hosted by Umbraco Cloud via Microsoft Azure, with the data center located in the Netherlands.
"Edmond de Rothschild Asset Management" or "EdRAM" is the trade name of the asset management entities (including subsidiaries and affiliated entities) of the Edmond de Rothschild Group. This name also refers to the Asset Management division of the Edmond de Rothschild Group.

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This processing is intended to adapt the website content according to local business rules and to compile anonymized statistics. The personal data collected in the context of this processing is mandatory as it allows access to the website and content tailored to the profile of the visitors. For more information on how your data is processed, please refer to our Personal Data Protection Charter and Cookie Policy.

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By clicking the button below "I accept," you acknowledge having read and understood this page, agree to comply with its content, and confirm that you are accessing this website in accordance with the laws and regulations of the jurisdiction or country in which you reside.

Important Information

Access to the Website
This section of the website is intended for non-professional investors, as opposed to professional investors as defined by Directive 2014/65/EU, known as the "MiFID Directive."
The content of this website has no contractual value and is designed exclusively for informational purposes.
This website is not intended for individuals in jurisdictions where the publication of or access to the website is prohibited due to their nationality or place of residence. Individuals affected by such prohibitions must not access this website. Individuals accessing the website acknowledge that they are solely responsible for complying with the laws and regulations applicable in their country of residence and/or nationality. In case of doubt, they should seek advice from their tax advisor, lawyer, and/or independent financial advisor.

Absence of Advice or Offer
The information on this website should not be considered as an offer or solicitation to engage in a transaction in a jurisdiction where such an offer or solicitation would be illegal or where the person making such an offer or solicitation is not authorized to act. The information on this website is provided solely for informational purposes and does not constitute active advertising/marketing, a personal recommendation, or investment advice. This information is not exhaustive, may change over time, and may be updated by the Edmond de Rothschild Group without notice and at any time.
This website is not intended for citizens or residents of the United States of America or for "U.S. Persons" as defined by Regulation S of the U.S. Securities Act of 1933. No investment product presented here is authorized for sale under the U.S. Securities Act of 1933 or any other regulations applicable in the United States. Therefore, no investment product may be offered or sold directly or indirectly in the United States of America to U.S. residents, U.S. citizens, or "U.S. Persons."
Regulations in each country regarding the marketing of a financial instrument vary depending on the country and your status (particularly as a non-professional client or equivalent). If you have any doubts about the marketing capability of this investment fund, we invite you to contact your usual advisor. No investment fund may be offered to a person if the law of their country of origin or any other relevant country prohibits it. The content of the website has not been reviewed or approved by any regulator of any jurisdiction.
You are solely responsible for selecting your country of nationality or residence and choosing the website for your country. You declare that this choice complies with all laws and regulations applicable to your country of nationality or residence; otherwise, this choice is made under your sole responsibility.

Regulatory Information
The prospectuses and KIDs (key information documents) approved and/or referenced by the regulator of the relevant country for the presented investment funds are freely accessible on the website. Other regulatory documents are available from the product’s management company. Any subscription to an investment fund or product should be made only after reviewing the relevant regulatory documents.
Edmond de Rothschild Asset Management (France) may receive commission rebates from entities of the Edmond de Rothschild Group in its capacity as the global distributor of investment funds. These rebates compensate Edmond de Rothschild Asset Management (France) for selecting and distributing the funds and represent part of the commissions specified in the fund’s prospectus (up to 50% of these commissions).

Absence of Insurance or Guarantee
All data and documents have been obtained from sources deemed reliable. However, the accuracy of this data and documents is not guaranteed. The data, comments, and analyses provided on this website reflect the opinion of the Edmond de Rothschild Group and its affiliated entities on markets, their development, regulation, and taxation. This opinion is based on their expertise, economic analyses, and the information available to them as of today. These data, comments, and analyses are subject to change without notice. The information provided on this website does not constitute any commitment or guarantee from the Edmond de Rothschild Group and its affiliated entities.

Risk Information
"All investments involve specific risks. Any potential investor should first consult their provider or advisor to form their own opinion on the risks inherent in each investment independently of the Edmond de Rothschild Group and its affiliated entities in order to determine whether this investment is suitable for their financial and personal situation. Before making any investment decision, investors must review the relevant contractual documents, particularly the investment policies and risk factors. They must ensure that they fully understand the risks associated with the investment and also consider their own investment objectives and level of risk tolerance.
Risk of capital loss: There is a risk that investors may not recover the full amount invested.

Investment Performance Information
Past performance and volatility do not predict future performance and volatility, and they are not constant over time and may be independently affected by exchange rate fluctuations.
The indicated performances do not account for costs and fees incurred during the issuance and redemption of shares but include ongoing fees, brokerage fees, and any performance fees charged. They also do not account for taxes imposed by the investor's country of residence.

The reference to a ranking or award does not imply future rankings or awards for the financial instruments or the manager. If the figures expressed on this website are in a currency different from the investor's country of residence, the gains received by the client may increase or decrease depending on currency exchange rate fluctuations.

Legal Notices/Roles and Responsibilities
Edmond de Rothschild Asset Management (France) is a public limited company with an executive board and supervisory board, with a share capital of €11,033,769, headquartered at 47 rue du Faubourg Saint-Honoré, 75008 Paris, France. The company is registered with the Paris Trade and Companies Register under number 332 652 536 as a portfolio management company authorized by the Autorité des Marchés Financiers under number GP-04000015. Telephone: +33 1 40 17 25 25.
The publication director is Mr. Christophe Caspar, in his capacity as Head of the Group's Asset Management. The editor responsible for the Asset Management section of this website is Mr. Bruno Major, Marketing Director.
The website is hosted by Umbraco Cloud via Microsoft Azure, with the data center located in the Netherlands.
"Edmond de Rothschild Asset Management" or "EdRAM" is the trade name for the asset management entities (including subsidiaries and affiliated entities) of the Edmond de Rothschild Group. This name also refers to the Asset Management division of the Edmond de Rothschild Group.

Personal Data Protection and Cookies
Consult the personal data protection charter.
Consult the cookie policy.

The personal data collected from the website will be subject to automated processing by Edmond de Rothschild Asset Management (France), the data controller, whose contact details are Client Service - 47 rue du Faubourg Saint-Honoré, 75008 Paris, "clientservice-am-fr@edr.com." The contact details of the Data Protection Officer are: DPO Edmond de Rothschild (France), 47 rue du Faubourg Saint-Honoré, 75008 Paris, "DPO@edr.com."
This processing is intended to adapt the website content according to local business rules and to compile anonymized statistics. The personal data collected in this context is mandatory as it allows access to the website and content tailored to the profile of visitors. For more information on the processing of your data, please refer to our Personal Data Protection Charter and Cookie Policy.

Copyright
Edmond de Rothschild Group. Any total or partial reproduction of the content of these pages is prohibited, subject to the restrictions outlined below. The pages of the website may be downloaded to disk or printed for personal use, provided that this notice is copied on each copy, no modifications are made to these pages, and no part of these pages is used in another work or publication in any format. It is also prohibited to distribute or copy any part of these pages for commercial purposes.

Technical Warning
The user of the website acknowledges that they have the necessary skills and means to access and use this website. In this regard, the user acknowledges having verified that the IT configuration used is free of viruses and is in proper working condition. Furthermore, before using the website, the user acknowledges ensuring that the browser used allows secure access to the website. The website is accessible 24 hours a day, 7 days a week, except in cases of force majeure, technical and/or IT difficulties, telecommunications difficulties, and/or maintenance. The website owner disclaims any liability for technical defects that may be detected while using the website. The website owner takes all possible measures, within the scope of a general obligation of means, to provide users with a secure website.
By clicking the button below "I accept," you acknowledge that you have read and understood this page, agree to comply with its content, and confirm that you are accessing this website in accordance with the laws and regulations of the jurisdiction or country in which you reside.