Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
16.03.2026
Key Information
| Net Asset Value | 143,06 EUR |
|---|---|
| Fund Size | 33.097.336 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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16.03.2026
Manager comment
In February, Pharus Liquidity recorded a performance of +0.39%.
Over the month, both the U.S. 2-year government yield and the German yield at the same maturity declined: the 2-year U.S. Treasury now yields 3.38% (-15 bps), while its German equivalent yields 2.00% (-9 bps).
Over the month, Ubisoft was among the best performers, while Eramet was among the weakest. During the month, we sought to reduce risk by improving the average quality of issuers. Among the transactions executed, we added a 2028 issue from Iqvia, a provider of services and solutions to the healthcare industry.
We believe careful security selection remains essential given that spreads are still near their lows. We remain convinced that the strategy represents an attractive investment opportunity, given the current environment and its defensive characteristics. From an implementation standpoint, we continue to look for opportunities in the longer-dated part of our investable universe.
Over the month, both the U.S. 2-year government yield and the German yield at the same maturity declined: the 2-year U.S. Treasury now yields 3.38% (-15 bps), while its German equivalent yields 2.00% (-9 bps).
Over the month, Ubisoft was among the best performers, while Eramet was among the weakest. During the month, we sought to reduce risk by improving the average quality of issuers. Among the transactions executed, we added a 2028 issue from Iqvia, a provider of services and solutions to the healthcare industry.
We believe careful security selection remains essential given that spreads are still near their lows. We remain convinced that the strategy represents an attractive investment opportunity, given the current environment and its defensive characteristics. From an implementation standpoint, we continue to look for opportunities in the longer-dated part of our investable universe.
Documents
Last updated on 16.03.2026
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Euro Fx Curr Fut Mar26 | 10.57 % |
|---|---|
| Us 2yr Note (cbt) Jun26 | 8.55 % |
| Euro-schatz Fut Mar26 | 5.49 % |
| Buoni Poliennali Del Tes 2.65% 01.12.27 | 3.98 % |
| Bundesobligation 1.3% 15.10.27 | 3.6 % |
| Buoni Poliennali Del Tes 2.8% 01.12.28 | 3.39 % |
| France (govt Of) 0.75% 25.02.28 | 2.94 % |
| Bonos Y Oblig Del Estado 1.45% 31.10.27 | 2.4 % |
| Banque Stellantis France 3.125% 20.01.28 | 2.14 % |
| Worldline Sa/france Zc 0% 30.07.26 | 1.86 % |
