Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
02.09.2025
Key Information
| Net Asset Value | 142,46 EUR |
|---|---|
| Fund Size | 30.043.700 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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02.09.2025
Manager comment
In July, Pharus Liquidity recorded a performance of 0.28%.
During the month, both the 2-year U.S. Treasury yield and the German government bond yield increased, reaching 3.93% and 1.96%, respectively. Among the best performers were Elo Saca, a French supermarket chain, and Walgreens, a U.S. pharmacy chain, while Ubisoft Entertainment was among the weakest. During the month, we added to the portfolio Nemak, a Mexican producer of aluminum automotive components, and International Petroleum, an oil and gas exploration and production company. We believe that careful selection remains essential in the current environment of compressed spreads. We remain convinced that this sector represents an attractive investment opportunity, considering the current environment and its defensive nature. Operationally, we continue to seek opportunities in the long end of our investable universe.
During the month, both the 2-year U.S. Treasury yield and the German government bond yield increased, reaching 3.93% and 1.96%, respectively. Among the best performers were Elo Saca, a French supermarket chain, and Walgreens, a U.S. pharmacy chain, while Ubisoft Entertainment was among the weakest. During the month, we added to the portfolio Nemak, a Mexican producer of aluminum automotive components, and International Petroleum, an oil and gas exploration and production company. We believe that careful selection remains essential in the current environment of compressed spreads. We remain convinced that this sector represents an attractive investment opportunity, considering the current environment and its defensive nature. Operationally, we continue to seek opportunities in the long end of our investable universe.
Documents
Last updated on 02.09.2025
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Euro Fx Curr Fut Sep25 | 11.68 % |
|---|---|
| Us 2yr Note (cbt) Dec25 | 9.51 % |
| Euro-schatz Fut Sep25 | 6.07 % |
| Buoni Poliennali Del Tes 2.65% 01.12.27 | 4.41 % |
| Ubisoft Entertainment Sa 0.878% 24.11.27 | 4.3 % |
| Bundesobligation 1.3% 15.10.27 | 4 % |
| Lagfin Sca 3.5% 08.06.28 | 3.28 % |
| France (govt Of) 0.75% 25.02.28 | 3.23 % |
| Elo Saca 2.875% 29.01.26 | 2.71 % |
| Banque Stellantis France 3.125% 20.01.28 | 2.4 % |
