Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
14.10.2025
Key Information
| Net Asset Value | 142,59 EUR |
|---|---|
| Fund Size | 30.255.932 EUR |
| Launch Date | 23 dic 2002 |
| Benchmark | BANCA FIDEURAM INDICE FONDI DI |
Management information
| Sicav | PHARUS SICAV |
|---|---|
| Management Company | PHARUS MANAGEMENT LUX SA |
| Investment Manager | Pharus Asset Management SA |
Investment objective
Pharus Sicav Liquidity is Pharus' first in-house fund, with over 20 years of track record, aimed at obtaining an appropriate level of income by investing in bonds, mostly corporate, with a remaining maturity of less than 3 years and 20 days. Investment decisions are made using a bottom-up approach that analyzes the failure risk of each individual issuer in order to maintain a high-quality standard and low volatility. The portfolio is well diversified, both geographically and by sector, and foreign exchange risk is systematically hedged.
Risk & reward profile
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14.10.2025
Manager comment
In September, Pharus Liquidity recorded a performance of +0.17%.
During the month, the yield on the U.S. 2-year Treasury remained broadly stable at 3.61%, while the German 2-year government bond yield rose by 8 bps to 2.02%.
Top performers included Ubisoft Entertainment, a video game development company, and Lagfin; while among the main detractors was Eramet, a French company operating in the mining and metallurgical sector.
During the month, we increased our position in Mahle, a manufacturer of automotive components.
We believe that careful security selection remains essential, as credit spreads continue to trade near historical lows.
We remain convinced that this asset class offers an attractive investment opportunity, given the current environment and its defensive profile. From an operational standpoint, we continue to seek opportunities in the longer end of our investable universe.
During the month, the yield on the U.S. 2-year Treasury remained broadly stable at 3.61%, while the German 2-year government bond yield rose by 8 bps to 2.02%.
Top performers included Ubisoft Entertainment, a video game development company, and Lagfin; while among the main detractors was Eramet, a French company operating in the mining and metallurgical sector.
During the month, we increased our position in Mahle, a manufacturer of automotive components.
We believe that careful security selection remains essential, as credit spreads continue to trade near historical lows.
We remain convinced that this asset class offers an attractive investment opportunity, given the current environment and its defensive profile. From an operational standpoint, we continue to seek opportunities in the longer end of our investable universe.
Documents
Last updated on 14.10.2025
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Euro Fx Curr Fut Dec25 | 11.56 % |
|---|---|
| Us 2yr Note (cbt) Dec25 | 9.34 % |
| Euro-schatz Fut Dec25 | 5.98 % |
| Buoni Poliennali Del Tes 2.65% 01.12.27 | 4.35 % |
| Ubisoft Entertainment Sa 0.878% 24.11.27 | 4.34 % |
| Bundesobligation 1.3% 15.10.27 | 3.95 % |
| Lagfin Sca 3.5% 08.06.28 | 3.26 % |
| France (govt Of) 0.75% 25.02.28 | 3.19 % |
| Eramet 7% 22.05.28 | 2.72 % |
| Elo Saca 2.875% 29.01.26 | 2.68 % |
