Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
20.05.2025
Key Information
| Net Asset Value | 141,34 EUR |
|---|---|
| Fund Size | 32.608.495 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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20.05.2025
Manager comment
During the month of April, Pharus Liquidity recorded a performance of +0.06%, bringing the year-to-date result to +1.25%. Over the month, both U.S. and German interest rates declined: the 2-year U.S. Treasury yields 3.60%, while the German government bond stands at 1.68%. The best performers during the month were Eutelsat and Banque Stellantis, while the weakest were Okea AS and Adani Ports.
During the period, we added Sirius XM Holdings, a satellite radio broadcasting company, and we increased our position in Auchan, a French supermarket chain. We believe that this year requires careful selection, especially considering the widening spreads observed during the month.
We remain convinced that this sector represents an interesting investment opportunity, given the current context and its defensive nature. Operationally, we continue to seek opportunities in the long end of our investable universe.
During the period, we added Sirius XM Holdings, a satellite radio broadcasting company, and we increased our position in Auchan, a French supermarket chain. We believe that this year requires careful selection, especially considering the widening spreads observed during the month.
We remain convinced that this sector represents an interesting investment opportunity, given the current context and its defensive nature. Operationally, we continue to seek opportunities in the long end of our investable universe.
Documents
Last updated on 20.05.2025
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Euro Fx Curr Fut Jun25 | 9.68 % |
|---|---|
| Us 2yr Note (cbt) Jun25 | 9.07 % |
| Bundesobligation 1.3% 15.10.27 | 6.8 % |
| Buoni Poliennali Del Tes 2.65% 01.12.27 | 6.36 % |
| Ubisoft Entertainment Sa 0.878% 24.11.27 | 3.32 % |
| France (govt Of) 2.5% 24.09.27 | 3.18 % |
| Walgreens Boots Alliance 2.125% 20.11.26 | 3.04 % |
| France (govt Of) 0.75% 25.02.28 | 2.99 % |
| Esercizi Aeroportuali 3.5% 09.10.25 | 2.53 % |
| Elo Saca 2.875% 29.01.26 | 2.46 % |
