Pharus Sicav Target
| Net Asset Value | 52,00 EUR |
|---|---|
| Fund Size | 26.402.299 EUR |
| Launch Date | 21 feb 2012 |
| Benchmark | BENCHMARK COMPOSITE 19662 |
| Sicav | PHARUS SICAV |
|---|---|
| Management Company | PHARUS MANAGEMENT LUX SA |
| Investment Manager | Pharus Asset Management SA |
Risk & reward profile
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During the month, the U.S. 10-year Treasury yield declined to 4.23%, while the German 10-year government bond yield rose to 2.61%.
Top performers included Kohl’s Corporation, a U.S. department store chain, and AMS-Osram AG, a company specializing in lighting and sensor solutions. On the other hand, Foot Locker was among the main detractors.
During the month, we added Geopark Ltd to the portfolio, an oil and gas exploration and production company, through a 2030 bond offering an attractive yield. We also increased our position in Energo-Pro.
We believe this segment could benefit from the monetary easing cycle, further supported by a high level of diversification both geographically and in the credit quality of individual issuers.
Last updated on 02.07.2025
| Euro Fx Curr Fut Sep25 | 33.38 % |
|---|---|
| Euro-bund Future Sep25 | 11.81 % |
| Us 10yr Note (cbt)sep25 | 11.57 % |
| Ima Industria Macchine Tv 15.04.29 | 2.32 % |
| China Oil & Gas Group 4.7% 30.06.26 | 2.21 % |
| Edenred Se Zc 0% 14.06.28 | 2.01 % |
| Webuild Spa 7% 27.09.28 | 1.94 % |
| Sammontana Italia Spa Tv 15.10.31 | 1.92 % |
| China Water Affairs Grp 4.85% 18.05.26 | 1.91 % |
| Illimity Bank Sp Tv 07.10.31 | 1.91 % |
SFDR Article: 8
The Sub-Fund does not have as its objective a sustainable investment, but promotes social characteristics with a proportion of sustainable investments with a social objective of at least 55% of its assets.
Objectives
The Sub-Fund’s sustainable investment objective is to select companies promoting peaceful, just and inclusive principles, evidencing a strong Sustainability rating and following good governance practices, while avoids the exposure to companies involved in controversial weapons production, tobacco production, adult entertainment, gambling sector, violation of United Nation Global Pact, as per the internal ESG policy defined.
Social characteristics promoted are mainly represented by the below:
- Security of products and health
- Human rights and human dignity
- Equality labour conditions
- Governance
Asset Allocation
All the investments are assessed ex ante by an independent external ESG advisor and need to be compliant with including criteria and not in breach with excluding criteria set out on the applicable ESG policy. Investments aligned with E/S characteristic must attain the social and environmental characteristics promoted by the financial product and must represent at least 55% of the Sub-fund’s asset. Sustainable investments are investments in securities whose rating is considered acceptable and which comply with the excluding criteria set out in the ESG policy applicable. Other Investments include cash, derivatives, bonds and equities which do not have any ESG rating or with a weak ESG rating and can represent up to 45% of the portfolio.
Principal adverse impacts
This financial product considers PAI and monitors additional PAI with the support of an ESG Advisor that produces, on quarterly basis, a complete report that illustrates the PAI and the results for the portfolio. Furthermore, the Sub-Fund focuses on the PAI number 10 and 11. PAI number 10 monitors/takes into consideration weight of company with severe violation of UNGC principles or OECD guidelines for multinationals. PAI number 11 refers to weight of companies without mechanism for monitoring the compliance with UNGC principles and OECD guidelines.
Binding elements
The exclusion criteria applied to the investment universe, are aimed to exclude companies
31.03.2025