Pharus Sicav Conservative

Class A
ISIN: LU0291569647
Category: EUR Cautious Allocation
Key Information
Net Asset Value122,05 EUR
Fund Size86.274.741 EUR
Launch Date15 apr 2007
Key Information
Management information
Investment ManagerPharus Asset Management SA
Key Information
Investment objective
Pharus Sicav Conservative is a balanced fund with a prudent orientation which aims to offer a conservative level of income and to steadily increase capital in the medium-long term. The management strategy is characterized by a prudent portfolio allocation, characterized by an Equity component that can vary from 20% to 40%, based both on direct exposure to market and single stock selection. In particular, stockpicking is based on a systematic approach of fundamental analysis, based on earnings and on their evolution. The remaining part of the portfolio is invested in bond asset classes decorrelated to Equity, with the function of stabilizing the portfolio and reducing volatility during risk off moments. Government investment grade bonds, mainly US Treasuries, Inflation-Linked bonds and Floaters, with a prudent approach in terms of duration and country risk, have this stabilization function.
Key Information

Risk & reward profile

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Manager comment
Manager comment
During the month of February, Pharus Conservative posted a negative performance of -1.98%, led by global equity indices down -2.4% and US and European government bonds also down 2.4% and 2.3% respectively. Higher-than-expected inflation data coupled with strong macroeconomic data revived fears of even tighter monetary policies, pushing interest rates up by around 50-60 basis points and pushing the terminal rate to 5% in the US and 4% in Europe. The duration component of the portfolio continues to be a key pillar that we believe will benefit when the market comes to discount the economic slowdown scenario already underway and highlighted by some lead indicators. Equities remain around 35% and we are maintaining our allocation by continuing to overweight sectors where we see more value and interest. We continue to see a more attractive European market from a valuation point of view than the US market. Currency risk continues to be fully hedged.

Last updated on 28.03.2023

* No coverage or derivatives are included
* No coverage or derivatives are included
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