Pharus Sicav Basic Fund
Class A
ISIN: LU0082941195
Category: EUR Flexible Allocation
16.10.2025
Key Information
| Net Asset Value | 211,01 EUR |
|---|---|
| Fund Size | 26.864.103 EUR |
| Launch Date | 20 gen 2005 |
Management information
| Sicav | PHARUS SICAV |
|---|---|
| Management Company | PHARUS MANAGEMENT LUX SA |
| Investment Manager | Pharus Asset Management SA |
Investment objective
Pharus Sicav Basic Fund is a flexible fund which aims to provide capital growth through exposure to mainly equity markets and in the Euro area. The focus is on identifying value stories not yet expressed in the stock market, of which the Italian market, especially mid-small caps, is particularly rich. 
Risk & reward profile
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16.10.2025
Manager comment
During the quarter, the sector recorded a performance of +3.80%.
The market narrative remains optimistic, but beneath the surface, leading indicators are slowing, signalling a cycle that is losing momentum.
In this context, valuations are stretched and much depends on margins holding up and guidance, while 2026 earnings estimates assume a real macro acceleration.
The US shutdown appears to be more political noise than an economic factor, albeit with the risk of delays in data: the picture remains one of a growing divergence between narrative and fundamentals, which calls for selectivity and quality in securities.
Despite all the macro movements, we firmly believe that there will be a resurgence of interest in mid and small caps in Europe in the coming months.
We remain focused on Italy, continuing to maintain our positions on our stock picks.
The market narrative remains optimistic, but beneath the surface, leading indicators are slowing, signalling a cycle that is losing momentum.
In this context, valuations are stretched and much depends on margins holding up and guidance, while 2026 earnings estimates assume a real macro acceleration.
The US shutdown appears to be more political noise than an economic factor, albeit with the risk of delays in data: the picture remains one of a growing divergence between narrative and fundamentals, which calls for selectivity and quality in securities.
Despite all the macro movements, we firmly believe that there will be a resurgence of interest in mid and small caps in Europe in the coming months.
We remain focused on Italy, continuing to maintain our positions on our stock picks.
Documents
Last updated on 16.10.2025
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Sesa Spa | 7.27 % |
|---|---|
| Italian Wine Brands Spa | 7.19 % |
| Eviso Spa | 5.71 % |
| Pharmanutra Spa | 5.52 % |
| Star7 S.p.a. | 5.04 % |
| Lindbergh Spa | 4.99 % |
| Maps Spa | 4.46 % |
| Azienda Bresciana Petroli No | 3.93 % |
| Reway Group Spa | 3.71 % |
| Lu-ve Spa | 3.09 % |
