Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
04.12.2025
Key Information
| Net Asset Value | 142,99 EUR |
|---|---|
| Fund Size | 30.758.646 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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04.12.2025
Manager comment
In November, Pharus Liquidity posted a performance of -0.18%. Over the month, US 2-year Treasury yield fell by 8 bps to 3.49 percent, while German 2-year government yield rose by 6 bps to 2.03 percent.
Among the main positive contributors were Titan International, a manufacturer of industrial tires and undercarriages, while among the weakest performers was Sirius XM Holdings, a US satellite radio company.
During the month, we added Molina to the portfolio, purchasing a June 2028 bond offering an attractive yield, as well as Ford Motor. We believe careful security selection remains essential, given spreads are still at their lows.
We continue to view the segment as an appealing investment opportunity in the current environment, thanks to its defensive profile. Operationally, we are still looking for opportunities in the longer end of our investable universe.
Among the main positive contributors were Titan International, a manufacturer of industrial tires and undercarriages, while among the weakest performers was Sirius XM Holdings, a US satellite radio company.
During the month, we added Molina to the portfolio, purchasing a June 2028 bond offering an attractive yield, as well as Ford Motor. We believe careful security selection remains essential, given spreads are still at their lows.
We continue to view the segment as an appealing investment opportunity in the current environment, thanks to its defensive profile. Operationally, we are still looking for opportunities in the longer end of our investable universe.
Documents
Last updated on 04.12.2025
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
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|---|---|
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