Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
10.09.2026
Key Information
| Net Asset Value | 143,88 EUR |
|---|---|
| Fund Size | 30.677.637 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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10.09.2026
Manager comment
During August, Pharus Liquidity posted a return of +0.05%.
European and US government bond yields rose during the month, albeit to different degrees. The two-year US Treasury yield reached 4.34% (+5 bps month on month), while the equivalent German government bond yield stood at 2.93% (+12 bps month on month).
Credit spreads remained broadly unchanged from the previous month. Against this backdrop, we continue to believe that a selective approach is appropriate.
Worldline was among the best performers during the month, while the Sirius XM Holdings convertible bond was among the weakest contributors.
During the month, we added several new issues to the portfolio, including Caterpillar’s euro-denominated bond maturing in 2029.
We remain convinced that the fund continues to offer an attractive investment opportunity, supported by its defensive profile.
European and US government bond yields rose during the month, albeit to different degrees. The two-year US Treasury yield reached 4.34% (+5 bps month on month), while the equivalent German government bond yield stood at 2.93% (+12 bps month on month).
Credit spreads remained broadly unchanged from the previous month. Against this backdrop, we continue to believe that a selective approach is appropriate.
Worldline was among the best performers during the month, while the Sirius XM Holdings convertible bond was among the weakest contributors.
During the month, we added several new issues to the portfolio, including Caterpillar’s euro-denominated bond maturing in 2029.
We remain convinced that the fund continues to offer an attractive investment opportunity, supported by its defensive profile.
Documents
Last updated on 10.09.2026
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Euro Fx Curr Fut Sep26 | 12.13 % |
|---|---|
| Us 2yr Note (cbt) Dec26 | 6.85 % |
| Buoni Poliennali Del Tes 2.65% 01.12.27 | 4.21 % |
| Euro-schatz Fut Sep26 | 4.08 % |
| Bundesobligation 1.3% 15.10.27 | 3.86 % |
| Bonos Y Oblig Del Estado 1.45% 31.10.27 | 2.58 % |
| Banque Stellantis France 3.125% 20.01.28 | 2.3 % |
| Ubisoft Entertainment Sa 0.878% 24.11.27 | 2.08 % |
| Edenred Se Zc 0% 14.06.28 | 2 % |
| Betsson Ab Tv 23.09.27 | 1.98 % |
