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Edmond de Rothschild Asset Management (France) (EDRAM)

PRI reporting framework 2018

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - INF 03]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG issues [LEI 08 - 10] Outputs and outcomes [LEI 12 - 14]
Direct - Listed Equity Active Ownership
Engagement [LEA 01 - 14] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 14] (Proxy) voting and shareholder resolutions [LEA 15 - 24] Overview [LEA 15] Process [LEA 16 - 20] Outputs and outcomes [LEA 21 - 24]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 13] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 07] (B) Implementation: Thematic [FI 08 - 10] (C) Implementation: Integration [FI 11 - 13] Fixed income - Engagement [FI 15 - 17] Outputs and outcomes [FI 18 - 19]
Assurance
Assurance [CM1 01.1 - 01.7]
Export Public Responses
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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

% of assets under management (AUM) in ranges

% of assets under management (AUM) in ranges

Further options for investment managers (may be selected in addition to the above)

01.2. Please describe your hedge fund strategy and classification [OPTIONAL]

Options presented for fund of hedge funds:

01.3. Additional information. [Optional]

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

France

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

189 FTE

02.4. Additional information. [Optional]

Edmond de Rothschild Asset Management (France)* is part of the Edmond de Rothschild Group.

The Edmond de Rothschild Group, which is headquartered in Geneva, offers a wide range of financial services throughout the world. The Group is structured around two main strategic activities: asset management and private banking. Today, the Group has € 155 billion of assets under management and 2,700 employees across 26 offices, branches and subsidiaries throughout the world.

All of the entities of the Group ultimately belong to the Rothschild family through a Swiss holding based in Geneva. Edmond de Rothschild Holding S.A. is the financial group's ultimate holding company and is controlled by Baron Benjamin de Rothschild: this holding controls, directly and/or indirectly, all of the Edmond de Rothschild Group's entities. As a signatory of the PRI (Principles for Responsible Investment) since 2010, the entity submitting the PRI reporting is Edmond de Rothschild Asset Management (France), the main asset management company of the Group, a limited company under French law which main shareholder is Edmond de Rothschild (France) (99.85% ownership), a fully operational bank chartered under French law.

With one investment hub in Paris and 2 representative offices exclusively dedicated to the funds’ commercialization (Madrid and Frankfurt) in the world, Edmond de Rothschild Asset Management (France) comprises 189 people, where team spirit and individual responsibility are our key values. Our investment teams which total 49 professionals, representing more than 26% of our total staff, are dedicated to analysis and portfolio management, and are responsible for the management of close to €30 bn as at end of December 2017.

 

*Edmond de Rothschild Asset Management (France) or Edmond de Rothschild AM (France) is the commercial name of one of the asset management entities (including branches and subsidiaries) of the Edmond de Rothschild (EdR) Group. It also refers to the Asset Management business line of the EdR Group”

 

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2017

04.2. Indicate your total AUM at the end of your reporting year, Exclude subsidiaries you have chosen not to report on and any advisory/execution only assets.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 10-50% 30.7 <10% 5
Fixed income 10-50% 34.8 <10% 1.7
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 <10% 0.2
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 <10% 4.1
Other (1), specify 10-50% 12.3 <10% 0.2
Other (2), specify 10-50% 10.6 <10% 0.4

'Other (1)' specified 

          Asset Allocation/Balanced/Diversified

'Other (2)' specified 

          Overlay/Structured Products/Alternative/UCITS/FSP

06.2. Publish asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]

Organization structure

Edmond de Rothschild Asset Management (France) is an established and renowned multi specialist investment house directed by an Executive Board whose members are:

  • Didier Deleage, Chief Executive Officer Edmond de Rothschild Asset Management  (France) and Chief Operating Officer Global Asset Management,
  • Philippe Uzan, Chief Investment Officer investments,
  • Nicolas Dubourg, Head of Investment Solutions Global Asset Management,

The structure of Edmond de Rothschild Asset Management (France) reflects the DNA of our independent and agile multi-specialist investment house. Purposefully focused on active management and specialties based investment approach, Edmond de Rothschild Asset Management (France) is structured around 3 investment platforms (49 investment professionals) promoting research & innovation and building accordingly solutions adapted to the needs and constraints of our clients:

  • The Portfolio management platform: it covers a large number of products, ranging from equities and corporate bonds to asset allocation: Asset Allocation and Sovereign Debt, International Equities, European Equities, Corporate Debt and SRI management. Within this platform, the reinforcement of synergies between the Equity teams and Corporate debt team is encouraged. This platform implements a long-term conviction based investment approach independent from benchmark constraints to a large extent.
  • The Investment Solutions platform: in line with our culture of innovation and our desire to develop tailor-made approaches, Edmond de Rothschild AM (France) has set up an Investment Solutions Department. This transversal department aims at building specific solutions for all our clients (internal and external, institutional and retail). This department includes financial engineers, as well as asset management analysts (risk & currency overlay management).  
  • The "Private Banking" management platform: this platform brings together all of the portfolio management teams dedicated to the Group's private banks. It aims at offering to our private clients the entire range of our products and tailor-made solutions adapted to each locality and regulation, in line with Edmond de Rothschild AM (France) values of excellence, creativity and discretion.

 

Activity

As an independent asset manager with a strong history, Edmond de Rothschild AM (France) is an established and renowned multi specialist investment house covering a wide range of strategies across asset classes through open-ended funds, dedicated solutions via direct lines, funds of funds and overlay management.

Our performance results testify to the firm’s capacity to deliver sustainable performance. Our philosophy is founded on a strong culture of innovation and a long term approach to investment aiming to generate significant performance within a solid risk framework:

  • Innovation is a fundamental component to our approach; not only in terms of design of products and dedicated solutions, but also with respect to implemented investment approach within portfolios;
  • Active management on the basis of a thorough internal analysis: Our portfolios are actively managed aiming at generating outperformance and optimizing the risk/return profiles at all times. Selection of instruments varies according to the specificities of each approach (conviction management, quantitative management) but investment decisions mainly rely on a thorough internal research, independently from benchmarks;
  • Fully integrated risk management: Our approach aims at having a comprehensive understanding of risks borne by portfolios and at quantifying those risks over the mid to long term; we identify and assess those risks before investing and carry out a rigorous monitoring of those risks along the life of our investments.

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Private)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

 

 

Developed Markets

  Emerging, Frontier and Other Markets
Total100%

09.2. Additional information. [Optional]

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