Edmond de Rothschild SICAV Financial Bonds.


Capitalise on the financial bond market through an opportunistic investment approach.
Chair by designer Philippe Druillet, bank lounges, Paris

Our
conviction



Financials, Banks and Insurance companies have solid investment characteristics with strong regulatory requirements and excess capital according to current regulation to sail through uncertain times.

Key
points

Environnementeco Black

Benchmark-agnostic1 approach to express convictions

Calendrier Black

Inception date: 10/03/2008

Etudiants Black

3 dedicated Portfolio Managers/Analysts with +15 years' average experience

Objectifs Black

3 years minimum investment horizon

Maitriserisque Black

Carries a risk of capital loss and credit risk

Blanc SFDR

SFDR classification Article 82

Why
invest?

Objectifs White

Capture the complexity and subordination premia3

With a focus on extracting the superior yield of financial credit with a contained risk exposure

Jaune Inflation White

A strengthening of financials’ balance sheets

The evolution of regulations enacted after 20084 has led to a significant improvement in monitoring the risks associated with investments in financials

Jaune Allocation White

Financials are among the best ESG5-rated sectors

thanks to solid fundamentals and supportive technicals

Fund
presentation



Our investment universe
The fund can invest globally but has historically focused on European financial issues denominated in EUR, USD and GBP, with no rating constraints and covering any subordination rank. The fund does not intend to hold equities, preference shares6 and corporate hybrids7.

This core investment universe includes, by subordination rank, Senior, Tier 1, Tier 2 and Contingent Convertibles of Financials. This universe is sufficiently deep and stable to allow the team to remain highly selective in the portfolio’s construction and management over time.

Our investment strategy
Access to complexity & subordination premia of banks and insurance companies in countries with a strong and healthy financial system.

The fund invests across the entire capital structure of European financial issuers using the full spectrum of available instruments from Senior8 bonds to the most junior, Contingent Convertibles (Cocos). Insurance subordinated9 debt is also used as a key diversification play.
The fund caps its investment in Contingent Convertibles to maximum 50% to keep a balanced approach combining return generation and risk management.

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 UCITS does not guarantee or protect the capital invested; investors may therefore not get back the full amount of their initial capital invested even if they hold their units for the recommended investment period.

Credit risk linked to investments in speculative securities: The UCITS may invest in issues from countries or companies rated, at the time of purchase, as “non-investment grade” by a rating agency (rating of less than BBB- according to Standard & Poor’s or any other equivalent rating assigned by an independent agency that has an equivalent internal rating issued by the Management Company) or which are considered equivalent by the Management Company. These issues are securities deemed speculative and present a higher risk of issuer default. This UCITS should be considered partly speculative and aimed specifically at investors who are aware of the risks inherent in investing in these securities. Thus, the use of “high yield” securities (speculative securities presenting a greater risk of issuer default) may result in a greater risk of falling NAV.

Risks related to contingent convertible bonds (Co-cos): Co-cos are subordinated debt securities issued by credit institutions or insurance or reinsurance companies, eligible in their regulatory capital and which have the specificity of being convertible into shares, or whose nominal value can be reduced (a so-called “write down” mechanism) in the event of the occurrence of a “trigger”, previously defined in the prospectus. A Coco includes an option to convert into shares at the issuer’s initiative in the event of a deterioration of its financial situation. In addition to the credit and interest rate risk inherent in the bonds, the activation of the conversion option may result in a decrease in the value of the Coco above that of the issuer’s other conventional bonds. Depending on the terms of the relevant Coco, certain triggering events may result in a permanent write-down to zero of the principal investment and/or accrued interest or a conversion of the bond into equity.

Interest rate risk: By holding debt securities and money market instruments, funds are exposed to changes in interest rates. This risk is defined as a rise on interest rates causes a decline in bonds valuation and therefore a fall in of the fund’s NAV.

1. Benchmark: 80% of the ICE BofA Euro Financial index and 20% of the ICE BofA Contingent Capital (EUR hedged) index.
2. 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: Funds promoting environmental and social characteristics. EdR SICAV Financial Bonds is a sub-fund of the French SICAV authorised by the AMF and authorised for marketing in Austria, Switzerland, Germany, Spain, France, United Kingdom, Italy, Luxembourg and Portugal.
3. The complexity and subordination premium refers to the extra return that investors can earn to compensate for the risks associated with investing in financial debt.
4. The 2008 financial crisis forced financial authorities and regulators to take strict measures to strengthen the balance sheets of financial institutions and their solvency. This new regulatory environment has led to the emergence of new capital instruments and an improvement in the quality of issuers. 
5. Environmental, Social, Governance.
6. Preference shares are a class of securities that offer specific prerogatives such as voting rights or enhanced dividends.
7. Hybrid bonds include perpetual debt or debt with the potential to be converted into a new bond at a later date.
8. Senior debt is priority debt that benefits from specific guarantees allowing it to be repaid with priority over other debt (called “subordinated” debt).
9. Subordinated debt has the particular characteristic of being repaid after the other creditors of this debt have been repaid. Subordinated debt is a financial instrument with a high level of risk

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 documents (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. Edmond de Rothschild SICAV Financial Bonds is registered under CNMV number 1801. Source of information: unless otherwise indicated, the sources used in this document are those of the Edmond de Rothschild Group. Copyright Edmond de Rothschild. All rights reserved.

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

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

Welcome to Edmond de Rothschild Asset Management

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This section of the website is only intended for professional investors within the meaning of COBS 3 of the FCA handbook as well as Investment Professionals, as defined under section 19(5) of the FSMA (Financial Promotion) Order and High net worth entities as defined under section 49 of the FSMA (Fianncial Promotion) Order, and is not suitable for individual and retail investors. If you are an individual or a retail investor, we kindly request that you do not access this section of the website.

This document has no contractual value and is intended for information purposes only. This website is not directed at any person in any jurisdiction where the publication or availability of the website is prohibited, due to that person's nationality or residence. Persons to whom such prohibitions apply must not access this website. Persons accessing the website are aware that they are solely responsible for compliance with applicable laws and regulation of their country of residence and/or citizenship. In doubt, they should seek advice from their independent tax advisor, legal counsel, and/or financial advisor.

Absence of advice or offer
The information provided in this website should not be considered as an offer or solicitation, to deal in any of the investments or funds mentioned herein, by anyone in any jurisdiction in which such offer or solicitation would be unlawful or in which the person making such offer or solicitation is not qualified to do so. The information on the website is being provided for informational purposes only and does not constitute an advertisement, a personal recommendation or an investment advice. This information is not exhaustive, is subject to change and may be modified or updated at any time by the Edmond de Rothschild Group without prior notice. This website is not intended for citizens or residents of the United States of America or "U.S.Persons" as defined by "Regulation S" under the U.S. Securities Act of 1933. No investment product presented herein is registered under the Securities Act of 1933 or any other United States regulation. Then, they cannot be offered or sold directly or indirectly in the United States of America, to or to the benefit of residents and citizens of the United States of America and to «U.S. Persons». Regulations concerning the marketing of financial instruments vary depending on the country and your status (as a professional client or equivalent). No UCI may be offered to an individual if the law in his or her country of origin or any other country concerning the individual or product prohibits it. The content of this website has not been reviewed or approved by any regulator in any jurisdiction. You are solely responsible for choosing your country of nationality or residence and for selecting your country's website. You acknowledge that this choice is compliant with all laws and regulations applicable in 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 authorised by the relevant regulator of the UCIs presented are accessible from this website free of charge. All other regulatory documentation can be obtained from the management company of the relevant UCI. Any investment in a UCI or a product should be done after having read and understood the applicable legal documentation. Edmond de Rothschild Asset Management (France) may receive UCI commission fees from Edmond de Rothschild Group companies in its role as a UCI distributor. These fees remunerate the selection and distribution of UCIs by Edmond de Rothschild Asset Management (France) and represent a portion of the commissions stated in the prospectus for the UCI (up to 50% of these commissions).

No assurance or guarantee
All data and material have been obtained from sources believed to be reliable, but their accuracy is not guaranteed. The data, comments and analysis provided in this website reflect the opinion of the Edmond de Rothschild Group and its affiliates with respect to the markets, their trends, regulations and tax issues, on the basis of its own expertise, economic analysis and information currently applicable. They are subject to modification without prior notice. Information provided in this website shall not be considered as any kind of undertaking or guarantee whatsoever from the Edmond de Rothschild Group and its affiliates.

Information on risks
Any investment involves specific risks. All potential investors must take prior measures and seek appropriate advice in order to analyse the risks and establish his or her own opinion independently of the Edmond de Rothschild Group in order to determine the suitability of such an investment to his or her own financial situation. Before making any investment decision, investors should read the relevant offering documents and in particular the investment policies and the risk factors. Investors should ensure they fully understand the risks associated with the investment and should also consider their own investment objective and risk tolerance level.
Risk of capital loss: investors may lose some or all of their original investment.

Information on investment performance
Past performance and volatility are not indicative of future performance and volatility and are not constant over time and may be independently affected by changes in exchange rates. Performance data is net of management and performance fees but does not include the annual costs or fees and charges when issuing or redeeming units. It may further be reduced by tax imposed by the investor's country of residence. Any reference to market rankings or awards is not a reliable indicator of the future rankings or awards of the financial instruments or the management company. If figures presented on this website are denominated in a currency other than the investor's domestic currency, the investor's returns may increase or decrease as a result of exchange rates fluctuations.

Legal Information/Roles and responsibilities
Edmond de Rothschild Asset Management (France) is a Société anonyme governed by an executive board and a supervisory board with capital of €11,033,769, located 47 rue du Faubourg Saint Honoré – 75008 Paris, France. The company is registered at the "Paris Registre du Commerce et des Sociétés" under reference number 332 652 536, as a portfolio management company authorised by the "Autorité des Marchés Financiers" under reference GP-04000015. Phone details: +331 40 17 25 25. The publishing director of the Asset Management section of the website is Christophe Caspar, Head of Group's Asset Management. Bruno Major, Head of Marketing, is responsible for the content of the Asset Management section of the website. 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 commercial name of the asset management entities (including branches and subsidiaries) of the Edmond de Rothschild Group. It also refers to the Asset Management division of the Edmond de Rothschild Group.

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When you access and use the Site, Edmond de Rothschild Asset Management (France) uses technical cookies considered essential in order to allow the main services of the Site to function optimally. You can technically block them using your browser settings, but your experience on the Site may be degraded. The personal data collected from the website will be processed automatically by Edmond de Rothschild Asset Management (France), data controller, which can be contacted at Customer Services, 47 Rue du Faubourg Saint-Honoré, 75008 Paris "clientservice-am-fr@edr.com". The contact details of its Data Protection Officer are as follows: DPO Edmond de Rothschild (France), 47 Rue du Faubourg Saint Honoré 75008 Paris, "DPO@edr.com". 
In the United Kingdom, you can contact the Compliance department of Edmond de Rothschild (UK) Limited  "compliance@lcfr.co.uk.
This processing is carried out in order to manage your information requests and your relations with our firm, Edmond de Rothschild Asset Management (France). It is necessary to enable us to respond to requests made through contact forms on the website and for compliance with our legal and regulatory obligations.
The information required to obtain a response to a request are marked with an asterisk and failure to provide that information will prevent us from providing a response.
This data and, more generally, the information exchanged between you and our firm in the context of our relations, is confidential. This confidentiality obligation particularly concerns information relating to your identity and your personal situation or wealth. This confidentiality obligation will continue after the end of our relationship.
The recipient of this data is Edmond de Rothschild Asset Management (France). The data collected may be transferred to other entities in the Edmond de Rothschild Group or to third-parties, particularly data processors or partners located in France, European Union member states, the United Kingdom or in Switzerland (noting that the European Commission recognised via decision no. 2000/518/EC of 26 July 2000 that this third country offers adequate protection) for the purposes of management of information requests and relations with Edmond de Rothschild Asset Management (France), as well as the execution of the Edmond de Rothschild Asset Management (France) policy on preventing and managing conflicts of interest or to satisfy its legal and regulatory obligations, provided that such disclosure is restricted to a need-to-know basis. By providing us with such data, you consent to it being processed and communicated under the conditions described above and you release Edmond de Rothschild Asset Management (France) from its professional secrecy obligation in that respect. All personal data will be kept in accordance with the various applicable retention periods, i.e. for five years after the business relationship ends should no shorter or longer period be specifically stipulated. You have the right to ask the data controller for access to your personal data and to request the correction, deletion or restriction of its processing, as well as the right to object to its processing and the right to portability of your data. Exercising the right to object to the processing of data shall prevent us from responding to requests submitted. You also have the right to define the instructions for what happens to your data after your death.
If you are dissatisfied with the processing of your data, you have the possibility to submit a complaint to the French data protection registrar, the Commission Nationale de l'Informatique et des Libertés (CNIL), at the following address: 3 Place de Fontenoy, TSA 80715, 75334 Paris Cedex 07 – 01 53 73 22 22.In the United Kingdom, the competent supervisory authority is the Information Commissioner's Office (Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF. For more information: https: // ico. org.uk/.
You are informed that Edmond de Rothschild Asset Management (France) may record telephone conversations, particularly for certain transactions. You explicitly authorise Edmond de Rothschild Asset Management (France) to make such recordings.
You may opt out, in writing, from receiving marketing communications.
Finally, as a natural person, not acting in a professional capacity, if you do not wish to receive telemarketing calls (excluding contractual relations in progress), you have the right to be placed on the no-call list free of charge (Bloctel service).

Governing law
Use of this site and these terms and conditions are subject to French law. Any dispute arising in connection with the application of these terms and conditions and use of this site shall be referred to the French courts.

Hypertext links
The establishment by any person of hypertext links leading to this website without the prior approval of Edmond de Rothschild Asset Management (France) is prohibited. Before establishing any such links, it is your responsibility to request the permission of the Group Edmond de Rothschild. Your request should be addressed to the Marketing Department, 47 Rue du Faubourg Saint-Honoré, 75401 Paris, Cedex 08, France, or to the following email address: info@edram.fr.

Copyright
Edmond de Rothschild Group. Any total or partial reproduction of the content of these pages in full or in part is prohibited, except as stipulated below. The pages on the website may be downloaded onto a hard drive or printed for your personal use, provided this notice is printed on each copy, no alterations are made to any of the pages and no use is made of all or any of them in any other work or publication, using any medium whatsoever. The distribution or copying of all or part of these pages for commercial purposes is also prohibited.

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Important information

Access to the website
This section of the website is intended for non-professional investors as opposed to professional investors as defined within the meaning of COBS 3 of the FCA handbook. This document has no contractual value and is intended for information purposes only. This website is not directed at any person in any jurisdiction where the publication or availability of the website is prohibited, due to that person's nationality or residence. Persons to whom such prohibitions apply must not access this website. Persons accessing the website are aware that they are solely responsible for compliance with applicable laws and regulation of their country of residence and/or citizenship. In doubt, they should seek advice from their independent tax advisor, legal counsel, and/or financial advisor.

Absence of advice or offer
The information provided in this website should not be considered as an offer or solicitation, to deal in any of the investments or funds mentioned herein, by anyone in any jurisdiction in which such offer or solicitation would be unlawful or in which the person making such offer or solicitation is not qualified to do so. The information on the website is being provided for informational purposes only and does not constitute an advertisement, a personal recommendation or an investment advice. This information is not exhaustive, is subject to change and may be modified or updated at any time by the Edmond de Rothschild Group without prior notice.
This website is not intended for citizens or residents of the United States of America or "U.S.Persons" as defined by "Regulation S" under the U.S. Securities Act of 1933. No investment product presented herein is registered under the Securities Act of 1933 or any other United States regulation. Then, they cannot be offered or sold directly or indirectly in the United States of America, to or to the benefit of residents and citizens of the United States of America and to «U.S. Persons».
Regulations concerning the marketing of financial instruments vary depending on the country and your status (as a professional client or equivalent). No UCI may be offered to an individual if the law in his or her country of origin or any other country concerning the individual or product prohibits it. The content of this website has not been reviewed or approved by any regulator in any jurisdiction.
You are solely responsible for choosing your country of nationality or residence and for selecting your country's website. You acknowledge that this choice is compliant with all laws and regulations applicable in 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 authorised by the relevant regulator of the UCIs presented are accessible from this website free of charge. All other regulatory documentation can be obtained from the management company of the relevant UCI. Any investment in a UCI or a product should be done after having read and understood the applicable legal documentation.
Edmond de Rothschild Asset Management (France) may receive UCI commission fees from Edmond de Rothschild Group companies in its role as a UCI distributor. These fees remunerate the selection and distribution of UCIs by Edmond de Rothschild Asset Management (France) and represent a portion of the commissions stated in the prospectus for the UCI (up to 50% of these commissions). 

No assurance or guarantee
All data and material have been obtained from sources believed to be reliable, but their accuracy is not guaranteed. The data, comments and analysis provided in this website reflect the opinion of the Edmond de Rothschild Group and its affiliates with respect to the markets, their trends, regulations and tax issues, on the basis of its own expertise, economic analysis and information currently applicable. They are subject to modification without prior notice. Information provided in this website shall not be considered as any kind of undertaking or guarantee whatsoever from the Edmond de Rothschild Group and its affiliates.

Information on risks
Any investment involves specific risks. All potential investors must take prior measures and seek appropriate advice in order to analyse the risks and establish his or her own opinion independently of the Edmond de Rothschild Group in order to determine the suitability of such an investment to his or her own financial situation. Before making any investment decision, investors should read the relevant offering documents and in particular the investment policies and the risk factors. Investors should ensure they fully understand the risks associated with the investment and should also consider their own investment objective and risk tolerance level.
Risk of capital loss: investors may lose some or all of their original investment.

Information on investment performance
Past performance and volatility are not indicative of future performance and volatility and are not constant over time and may be independently affected by changes in exchange rates. Performance data is net of management and performance fees but does not include the annual costs or fees and charges when issuing or redeeming units. It may further be reduced by tax imposed by the investor's country of residence.Any reference to market rankings or awards is not a reliable indicator of the future rankings or awards of the financial instruments or the management company. If figures presented on this website are denominated in a currency other than the investor's domestic currency, the investor's returns may increase or decrease as a result of exchange rates fluctuations.

Legal Information/Roles and responsibilities
Edmond de Rothschild Asset Management (France) is a Société anonyme governed by an executive board and a supervisory board with capital of €11,033,769, located 47 rue du Faubourg Saint Honoré – 75008 Paris, France. The company is registered at the "Paris Registre du Commerce et des Sociétés" under reference number 332 652 536, as a portfolio management company authorised by the "Autorité des Marchés Financiers" under reference GP-04000015. Phone details: +331 40 17 25 25.The publishing director of the Asset Management section of the website is Christophe Caspar, Head of Group's Asset Management. Bruno Major, Head of Marketing, is responsible for the content of the Asset Management section of the website. 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 commercial name of the asset management entities (including branches and subsidiaries) of the Edmond de Rothschild Group. It also refers to the Asset Management division of the Edmond de Rothschild Group. 

View the cookies policy
Personal data protection and cookies
View the personal data protection charter

When you access and use the Site, Edmond de Rothschild Asset Management (France) uses technical cookies considered essential in order to allow the main services of the Site to function optimally. You can technically block them using your browser settings, but your experience on the Site may be degraded. "The personal data collected from the website will be processed automatically by Edmond de Rothschild Asset Management (France), data controller, which can be contacted at Customer Services, 47 Rue du Faubourg Saint-Honoré, 75008 Paris ""clientservice-am-fr@edr.com"". The contact details of its Data Protection Officer are as follows: DPO Edmond de Rothschild (France), 47 Rue du Faubourg Saint Honoré 75008 Paris, "DPO@edr.com".
In the United Kingdom, you can contact the Compliance department of Edmond de Rothschild (UK) Limited  "compliance@lcfr.co.uk."
This processing is carried out in order to manage your information requests and your relations with our firm, Edmond de Rothschild Asset Management (France). It is necessary to enable us to respond to requests made through contact forms on the website and for compliance with our legal and regulatory obligations.
The information required to obtain a response to a request are marked with an asterisk and failure to provide that information will prevent us from providing a response.
This data and, more generally, the information exchanged between you and our firm in the context of our relations, is confidential. This confidentiality obligation particularly concerns information relating to your identity and your personal situation or wealth. This confidentiality obligation will continue after the end of our relationship.
The recipient of this data is Edmond de Rothschild Asset Management (France). The data collected may be transferred to other entities in the Edmond de Rothschild Group or to third-parties, particularly data processors or partners located in France, European Union member states, the United Kingdom or in Switzerland (noting that the European Commission recognised via decision no. 2000/518/EC of 26 July 2000 that this third country offers adequate protection) for the purposes of management of information requests and relations with Edmond de Rothschild Asset Management (France), as well as the execution of the Edmond de Rothschild Asset Management (France) policy on preventing and managing conflicts of interest or to satisfy its legal and regulatory obligations, provided that such disclosure is restricted to a need-to-know basis. By providing us with such data, you consent to it being processed and communicated under the conditions described above and you release Edmond de Rothschild Asset Management (France) from its professional secrecy obligation in that respect.
All personal data will be kept in accordance with the various applicable retention periods, i.e. for five years after the business relationship ends should no shorter or longer period be specifically stipulated.
You have the right to ask the data controller for access to your personal data and to request the correction, deletion or restriction of its processing, as well as the right to object to its processing and the right to portability of your data.
Exercising the right to object to the processing of data shall prevent us from responding to requests submitted.
You also have the right to define the instructions for what happens to your data after your death.
If you are dissatisfied with the processing of your data, you have the possibility to submit a complaint to the French data protection registrar, the Commission Nationale de l'Informatique et des Libertés (CNIL), at the following address: 3 Place de Fontenoy, TSA 80715, 75334 Paris Cedex 07 – 01 53 73 22 22.
In the United Kingdom, the competent supervisory authority is the Information Commissioner (Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF. For more information: https: // ico. org.uk/.
You are informed that Edmond de Rothschild Asset Management (France) may record telephone conversations, particularly for certain transactions. You explicitly authorise Edmond de Rothschild Asset Management (France) to make such recordings.
You may opt out, in writing, from receiving marketing communications.
Finally, as a natural person, not acting in a professional capacity, if you do not wish to receive telemarketing calls (excluding contractual relations in progress), you have the right to be placed on the no-call list free of charge (Bloctel service).

Governing law
Use of this site and these terms and conditions are subject to French law. Any dispute arising in connection with the application of these terms and conditions and use of this site shall be referred to the French courts. 

Hypertext links
The establishment by any person of hypertext links leading to this website without the prior approval of Edmond de Rothschild Asset Management (France) is prohibited. Before establishing any such links, it is your responsibility to request the permission of the Group Edmond de Rothschild. Your request should be addressed to the Marketing Department, 47 Rue du Faubourg Saint-Honoré, 75401 Paris, Cedex 08, France, or to the following email address: info@edram.fr. 

Copyright
Edmond de Rothschild Group. Any total or partial reproduction of the content of these pages in full or in part is prohibited, except as stipulated below. The pages on the website may be downloaded onto a hard drive or printed for your personal use, provided this notice is printed on each copy, no alterations are made to any of the pages and no use is made of all or any of them in any other work or publication, using any medium whatsoever. The distribution or copying of all or part of these pages for commercial purposes is also prohibited.

Technical Warning
The user of the website acknowledges that he/she has the ability and the means required to access and use this website. In this respect, the user acknowledges having checked that the computer system used contains no viruses and is in perfect working order. Furthermore, he/she acknowledges having checked, prior to use, that the browser used allows a secured access to the website. The website is accessible 24 hours a day and 7 days a week, except in the event of circumstances beyond our control, and/or technical, processing, telecommunications, or maintenance problems. The owner of the website cannot be held liable for technical faults that may be detected when using the website. By providing all necessary means, the owner of the website is firmly committed to providing a secure website for its users.
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