Pharus Sicav Liquidity
Class A
ISIN: LU0159791275
Category: EUR Money Market
13.07.2026
Key Information
| Net Asset Value | 144,43 EUR |
|---|---|
| Fund Size | 31.350.654 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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13.07.2026
Manager comment
During the month of June, Pharus Liquidity posted a performance of +0.33%.
Over the month, government bond yields did not move in the same direction in the United States and Europe: the 2-year US Treasury yielded 4.17% (+17 bps MoM), while the 2-year German Bund yielded 2.52% (unchanged MoM).
Credit spreads in June remained broadly at the same levels as the previous month: in this context, we continue to believe it is appropriate to maintain a selective approach.
Over the month, Ubisoft was among the best performers, while Worldline was among the weakest.
During the month, we added a few new issues, including the new Monte Paschi 2029 and Akzo Nobel 2029 bonds. We also added a NatWest issue maturing in 2027 to the portfolio.
We remain convinced that the compartment continues to offer an attractive investment opportunity, thanks to its defensive profile.
Over the month, government bond yields did not move in the same direction in the United States and Europe: the 2-year US Treasury yielded 4.17% (+17 bps MoM), while the 2-year German Bund yielded 2.52% (unchanged MoM).
Credit spreads in June remained broadly at the same levels as the previous month: in this context, we continue to believe it is appropriate to maintain a selective approach.
Over the month, Ubisoft was among the best performers, while Worldline was among the weakest.
During the month, we added a few new issues, including the new Monte Paschi 2029 and Akzo Nobel 2029 bonds. We also added a NatWest issue maturing in 2027 to the portfolio.
We remain convinced that the compartment continues to offer an attractive investment opportunity, thanks to its defensive profile.
Documents
Last updated on 13.07.2026
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Euro Fx Curr Fut Sep26 | 11.71 % |
|---|---|
| Us 2yr Note (cbt) Sep26 | 5.62 % |
| Buoni Poliennali Del Tes 2.65% 01.12.27 | 4.06 % |
| Bundesobligation 1.3% 15.10.27 | 3.72 % |
| Euro-schatz Fut Sep26 | 3.3 % |
| France (govt Of) 0.75% 25.02.28 | 3.03 % |
| Buoni Poliennali Del Tes 2.8% 01.12.28 | 2.82 % |
| Bonos Y Oblig Del Estado 1.45% 31.10.27 | 2.48 % |
| Banque Stellantis France 3.125% 20.01.28 | 2.21 % |
| Worldline Sa/france Zc 0% 30.07.26 | 1.96 % |
