Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
16.09.2025
Key Information
| Net Asset Value | 142,72 EUR |
|---|---|
| Fund Size | 29.543.821 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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16.09.2025
Manager comment
In August, Pharus Liquidity recorded a performance of +0.33%.
Over the month, the yield on the U.S. 2-year Treasury declined by 34 bps to 3.62%, while the German 2-year government bond yield remained broadly stable at 1.94%.
Top performers included Ubisoft Entertainment, a video game development company, and Sirius XM Holdings, a satellite radio broadcasting firm. Among the main detractors was Nemak, a Mexican manufacturer of aluminum automotive components.
We believe that careful security selection remains essential, as spreads continue to trade near historical lows.
We remain convinced that the asset class offers an attractive investment opportunity, given the current environment and its defensive characteristics. Operationally, we continue to seek opportunities in the longer end of our investable universe.
Over the month, the yield on the U.S. 2-year Treasury declined by 34 bps to 3.62%, while the German 2-year government bond yield remained broadly stable at 1.94%.
Top performers included Ubisoft Entertainment, a video game development company, and Sirius XM Holdings, a satellite radio broadcasting firm. Among the main detractors was Nemak, a Mexican manufacturer of aluminum automotive components.
We believe that careful security selection remains essential, as spreads continue to trade near historical lows.
We remain convinced that the asset class offers an attractive investment opportunity, given the current environment and its defensive characteristics. Operationally, we continue to seek opportunities in the longer end of our investable universe.
Documents
Last updated on 16.09.2025
* 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 % |
