SUB FUND RISK PROFILE The fund is rated 6 on a scale of 7, a high risk/return fund profile which reflects its ability to be up to 100% exposed to equity markets. The risks described below are not exhaustive: it is the responsibility of investors to analyse each investment’s risk and to come to their own opinion. Discretionary management risk: The discretionary management style is based on expectations of the performance of different markets (equities, bonds). However, there is a risk that the Fund may not be invested in the best-performing values at all times. Equity risk: The value of a stock may change depending on factors specific to the issuer but also on exogenous, political or economic factors that may lead to substantial variations in the net assets which may have a negative impact on the performance of the fund. Risk from investing in small and mid cap companies: Investment in small and medium enterprises may entail greater risk than that generally deriving from investments in larger and better established enterprises. Sub-Funds which invest in smaller companies may fluctuate in value more than other Sub-Funds because of the greater potential volatility of Share prices of smaller companies. Exchange rate risk: Assets may be exposed to exchange rate risk when currency exposure of certain assets of the relevant Sub-Fund into another currency. Concentration risk: Certain Sub-Funds may concentrate their investments in assets belonging to certain specific sectors of the economy, and they will consequently be subject to the risks associated with the concentration of investments in the sectors in question. November 2018. This document is issued by Edmond de Rothschild Asset Management (France). Non-binding document. This document is for information purpose only. Any reproduction, disclosure or dissemination without prior consent from the Edmond de Rothschild Group is strictly prohibited. The information provided in this document should not be considered as an offer, an inducement, or solicitation to deal by anyone in any jurisdiction where it would be unlawful or where the person providing it is not qualified to do so. It is not intended to constitute, and should not be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell or continue to hold any investment. EdRAM shall incur no liability for any investment decisions based on this document. The Funds presented herein may not be registered and/or authorised in your country. You should seek advice from your professional advisor if you are in doubt as to whether any of the Funds mentioned might be suitable for your individual situation. Any investment involves specific risks. We recommend investors to ensure the suitability and/or appropriateness of any investment to its individual situation, using appropriate independent advice, where necessary. Furthermore, investors must read the key investor information document (KIID) and/or any other legal documentation requested by local regulation, that are provided to them before any subscription and available at, or upon request free of charge. « Edmond de Rothschild Asset Management » or « EdRAM » is the commercial name of the asset management entities of the Edmond de Rothschild Group. GLOBAL DISTRIBUTOR EDMOND DE ROTHSCHILD ASSET MANAGEMENT (FRANCE) 47, rue du Faubourg Saint-Honoré, 75401 Paris Cedex 08 Société anonyme governed by an executive board and a supervisory board with capital of 11,033,769 euros AMF Registration No. GP 04000015 - 332.652.536 R.C.S. Paris MANAGEMENT COMPANY EDMOND DE ROTHSCHILD ASSET MANAGEMENT (LUXEMBOURG) 16, Boulevard Emmanuel Servais, L – 2535 Luxembourg SUB INVESTMENT MANAGER EDMOND DE ROTHSCHILD ASSET MANAGEMENT (FRANCE) 47, rue du Faubourg Saint-Honoré, 75401 Paris Cedex 08