LU0746320414 - Pharus Sicav - Pharus Sicav Target

Class AD

ISIN: LU0746320414

CATEGORY: Global Flexible Bond - EUR Hedged

KEY INFORMATIONat 09.06.2021

Net Asset Value	76,16 EUR
Fund Size (mln)	66.215.943 EUR
Launch Date	21 feb 2012
Benchmark	BENCHMARK COMPOSITE 19662

MANAGEMENT INFORMATION

Sicav	PHARUS SICAV
Management Company	PHARUS MANAGEMENT LUX SA
Investment Manager	Pharus Asset Management SA

DOCUMENTS

N.A.

RISK & REWARD PROFILE

Lower Risk

Highest Risk

Potentially lower return

Potentially higher return

1
2
3
4
5
6
7

INVESTMENT OBJECTIVE

The objective of the fund is to ensure a high coupon flow investing in various bond asset classes (mainly corporate High Yield), with a high diversification both sectorially and geographically. The exchange risk is totally hedged through the use of forwards.

MANAGER COMMENT

The fund registered a positive performance of + 0.27% in May, bringing the year-to-date performance to + 0.35%.
The performance was mainly driven by the Emerging side of the portfolio, while the European and US sides struggled.
We maintain our usual diversified allocation across three geographies, Europe, USA and Emerging Countries, with an overweight in the financial sector and continue to believe that convertibles are an attractive alternative to traditional bonds.
The portfolio's hedged return is now around 3.30%, with a duration of 3.7 years and a weighted average rating of BB+.
Operationally, we invested part of the liquidity available through some New Issues of mainly Asian bonds and at the same time we sold some long-term bonds to reduce the average duration of the portfolio.
The exchange risk is fully hedged through the use of forward contracts.

PERFORMANCE

Last updated on 09.06.2021

*

Performance is shown with gross income reinvested, based on net asset value and does not include the effect of any initial or exit charges.

ASSET ALLOCATION

*

No coverage or derivatives are included

CURRENCY ALLOCATION

*

No coverage or derivatives are included

COUNTRY ALLOCATION

TOP TEN HOLDING

Ishares Global Hy Corp-distr	2.65 %
Intesa Sanpaolo Spa Tv	1.91 %
Assicurazioni Generali Tv 08.06.48	1.51 %
Assicurazioni Generali Tv	1.49 %
Us Treasury N/b 2.25% 15.08.49	1.11 %
Sace Spa Tv	0.95 %
Iccrea Banca Spa Tv 28.11.29	0.93 %
Anglogold Holdings Plc 6.5% 15.04.40	0.91 %
Us Treasury N/b 2.375% 15.11.49	0.88 %
Unicredit Spa Tv	0.84 %

SECTOR ALLOCATION

MATURITY

RATING

Current risk profile selected:

The fund you are trying to view is not in line with the current risk profile settings.
Your selection is

PLEASE CHANGE THE INVESTOR TYPE AND THE COUNTRY

Investor TypeDistribution Country

This website is provided by Pharus Group for information purpose only. Belongs Pharus group: Pharus Asset Management SA (Switzerland) and Pharus Management Lux SA (Luxembourg), and its Italian Branch.
Pharus Group selects the data and information contained in the website with utmost care from sources it believes to be reliable and carries out periodical updates. In this contest, the users are been informed that such information contained in this web site may be changed without notice. However, Pharus Group may not be held responsible in connection with the accuracy, reliability and completeness of the published information.

2. No distribution, no offer, no solicitation
The information contained in this website shall not, in any case, constitute any distribution, offer, solicitation, or be considered as investment, legal or tax advice. No decision shall be made solely based on the website content. In particular, it is strongly recommended to seek for qualified advice. Not all collective investment schemes described in this website are available in all countries. The information contained in this website is intended neither for individuals nor for legal persons whom, because of the jurisdiction or their qualification, nationality and/or residence, are not allowed to access or use this information because it would constitute a violation of laws or regulations. It is the responsibility of the users to ensure that they are authorized to access the information contained therein.

SWITZERLAND
Several information on this web site may be not available by users that declare to be considered as not institutional investor. Currently, not all of the foreign collective investment schemes have been authorized for distribution in Switzerland and consequently the information relating to such collective investment schemes may be accessible only to certain investors. Information concerning the appointed Representative and Paying Agent can be found in the relevant fund documents, to which reference should be made for further details.
The article of association, the prospectus and the "Key Investor Information" documents, as well as the annual and semi-annual reports will be made available to shareholders free of charge on this website - after logging in as Suisse resident user specifying whether as private or institutional investor - and by the Representative.

ITALY
Not all collective investment schemes contained in the website have been authorized for distribution in Italy. Consequently, the information relating only to certain collective investment schemes is accessible to investors residing in Italy.
The article of association, the prospectus and the "Key Investor Information" documents, as well as the annual and semi-annual reports will be made available to shareholders free of charge on this website after logging in as Italian resident user specifying whether as private or institutional investor - and from the duly appointed distributors in Italy, whose list is available on this website.

LUXEMBOURG
All collective investment schemes contained in the website have been authorized for distribution in Luxembourg.
The article of association, the prospectus and the "Key Investor Information" documents, as well as the annual and semi-annual reports will be made available to shareholders free of charge on this website after logging in as Luxembourg resident user specifying whether as private or institutional investor.

GERMANY
Not all collective investment schemes contained in the website have been authorized for distribution in Germany. Consequently, the information relating only to certain collective investment schemes is accessible to investors residing in Germany.
The article of association, the prospectus and the "Key Investor Information" documents, as well as the annual and semi-annual reports will be made available to shareholders free of charge on this website after logging in as German resident user specifying whether as private or institutional investor - and from the duly appointed distributors in Germany, whose list, if any, is available on this website.

USA
The collective investment schemes contained in the website are not meant to be directly or indirectly, offered or sold in the USA or any of its territories or to US Persons, as defined under the United States Securities Act of 1933, as amended (hereinafter "Securities Act").
In particular, the collective investment schemes described on the website shall not be registered under the Securities Act or any other applicable United States securities laws (including, without limitation, any applicable law of any of the states of the United States). By proceeding, users warrant not to be a US Person.

3. Performance
This web site may contain presentation of past performances. Past performances are not indicative of future results. Past yields are shown gross of taxation.

4. Applicable law and place of jurisdiction
Any issue relating to the use of the website shall be subject to the relevant jurisdiction according to the user residence.

September 2020

By clicking on the “Select” button, the user to this web site expressly acknowledge that he/her has read this warning and that he/her is authorised by the applicable law to access this web site.