Pharus Sicav Target
| Net Asset Value | 50,82 EUR |
|---|---|
| Fund Size | 15.255.466 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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Credit spreads remain contained, close to the lower end of the three-year range, albeit with divergences between the euro and dollar areas: in euro, tightening across both investment grade and high yield; in dollars, widening in both segments, more markedly so in high yield. Sector contribution was positive in euro from Energy, Consumer Discretionary and Utilities, and negative in dollars from Communication Services and Information Technology.
We maintain a selective approach to the quality-duration mix.
Alibaba and Cerved were among the best performers, while Flos B&B Italia was among the weakest.
The sub-fund remains attractive, supported by a high degree of geographical diversification and by the quality of issuers.
Last updated on 17.08.2026
| Euro Fx Curr Fut Sep26 | 27.72 % |
|---|---|
| Euro-bund Future Sep26 | 14.55 % |
| Us 10yr Note (cbt)sep26 | 12.2 % |
| Edenred Se Zc 0% 14.06.28 | 4.41 % |
| Worldline Sa/france 0.875% 30.06.27 | 4.34 % |
| Edf 7 1/2 Perp | 2.89 % |
| Ttefp 4.12 Perp | 2.65 % |
| Enel Spa Tv | 2.12 % |
| Eramet 7% 22.05.28 | 2.01 % |
| Silk Road Group Holding 7.5% 15.09.30 | 1.92 % |
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