Pharus Sicav Conservative
| Net Asset Value | 132,27 EUR |
|---|---|
| Fund Size | 43.400.377 EUR |
| Launch Date | 15 apr 2007 |
| Benchmark | ITALY FIDEURAM FLEXIBLE |
| Sicav | PHARUS SICAV |
|---|---|
| Management Company | PHARUS MANAGEMENT LUX SA |
| Investment Manager | Pharus Asset Management SA |
Risk & reward profile
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Global equity markets rose by +3% (+18% YTD in USD, +4.4% YTD in EUR), driven by the technology sector and increasing investment in artificial intelligence. Market sentiment was further supported by the Fed’s dovish shift, marked by a 25 basis point rate cut and the prospect of further reductions by the end of 2026.
The United States and China outperformed, while Europe posted more modest gains.
The reporting season confirmed strong demand for AI-related infrastructure, with new contracts and sector commentary pointing to an investment cycle that remains in full swing. Defensive and quality sectors continued to underperform.
Equity allocation remained at 31%, focused on leading companies trading at discounted valuations. On the bond side, portfolio duration was maintained at around 4.8 years.
Last updated on 09.10.2025
| Us 10yr Note (cbt)dec25 | 11.66 % |
|---|---|
| Euro Fx Curr Fut Dec25 | 11.24 % |
| Buoni Poliennali Del Tes 4% 15.11.30 | 11.08 % |
| Us 5yr Note (cbt) Dec25 | 8.97 % |
| S&p500 Emini Fut Dec25 | 7.25 % |
| Buoni Poliennali Del Tes 0.95% 15.09.27 | 6.74 % |
| Buoni Poliennali Del Tes 2.65% 01.12.27 | 6.31 % |
| France (govt Of) 2.5% 24.09.26 | 5.77 % |
| Bonos Y Oblig Del Estado 5.75% 30.07.32 | 5.47 % |
| France (govt Of) 2% 25.11.32 | 5.44 % |
SFDR Article: 8
The Sub-Fund does not have as its objective a sustainable investment, but promotes social characteristics with a proportion of sustainable investments with a social objective of at least 80% of its assets.
Objectives
The Sub-Fund’s sustainable investment objective is to select companies promoting peaceful, just and inclusive principles, evidencing a strong Sustainability rating and following good governance practices, while avoids the exposure to companies involved in controversial weapons production, tobacco production, adult entertainment, gambling sector, violation of United Nation Global Pact, as per the internal ESG policy defined.
Social characteristics promoted are mainly represented by the below:
- Security of products and health
- Human rights and human dignity
- Equality labour conditions
- Governance
Asset Allocation
All the investments are assessed ex ante by an independent external ESG advisor and need to be compliant with including criteria and not in breach with excluding criteria set out on the applicable ESG policy. Investments aligned with E/S characteristic must attain the social characteristics promoted by the financial product and must represent at least 80% of the Sub-fund’s asset. Sustainable investments are investments in securities whose rating is considered acceptable and which comply with the excluding criteria set out in the ESG policy applicable. Other Investments include cash, derivatives, bonds and equities which do not have any ESG rating or with a weak ESG rating and can represent up to 20% of the portfolio.
Principal adverse impacts
This financial product considers PAI and monitors additional PAI with the support of an ESG Advisor that produces, on quarterly basis, a complete report that illustrates the PAI and the results for the portfolio. Furthermore, the Sub-Fund focuses on the PAI number 10 and 11. PAI number 10 monitors/takes into consideration weight of company with severe violation of UNGC principles or OECD guidelines for multinationals. PAI number 11 refers to weight of companies without mechanism for monitoring the compliance with UNGC principles and OECD guidelines.
Binding elements
The exclusion criteria applied to the investment universe, are aimed to exclude companies
31.03.2025