Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
09.07.2025
Key Information
| Net Asset Value | 141,85 EUR |
|---|---|
| Fund Size | 33.817.345 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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09.07.2025
Manager comment
In June, Pharus Liquidity recorded a performance of +0.07%.
During the month, the U.S. 2-year Treasury yield declined to 3.72%, while the 2-year German government bond yield rose to 1.86%.
Top performers in June included Eutelsat, a leading satellite communications company, and Mahle, a manufacturer of automotive components. On the downside, Adani Ports and Special was among the main detractors.
During the month, we added Edenred to the portfolio, a company operating in corporate services, as well as Eramet, a French multinational active in the mining and metallurgical sectors.
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, the U.S. 2-year Treasury yield declined to 3.72%, while the 2-year German government bond yield rose to 1.86%.
Top performers in June included Eutelsat, a leading satellite communications company, and Mahle, a manufacturer of automotive components. On the downside, Adani Ports and Special was among the main detractors.
During the month, we added Edenred to the portfolio, a company operating in corporate services, as well as Eramet, a French multinational active in the mining and metallurgical sectors.
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 09.07.2025
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Euro Fx Curr Fut Sep25 | 11.8 % |
|---|---|
| Us 2yr Note (cbt) Sep25 | 8.3 % |
| Bundesobligation 1.3% 15.10.27 | 6.42 % |
| Buoni Poliennali Del Tes 2.65% 01.12.27 | 5.94 % |
| Euro-schatz Fut Sep25 | 5.33 % |
| Ubisoft Entertainment Sa 0.878% 24.11.27 | 3.72 % |
| France (govt Of) 2.5% 24.09.27 | 3.01 % |
| Walgreens Boots Alliance 2.125% 20.11.26 | 2.92 % |
| France (govt Of) 0.75% 25.02.28 | 2.83 % |
| Esercizi Aeroportuali 3.5% 09.10.25 | 2.4 % |
