Pharus Sicav Medical Innovation
| Net Asset Value | 118,65 EUR |
|---|---|
| Fund Size | 1.653.982 EUR |
| Launch Date | 2 ott 2012 |
| Benchmark | BENCHMARK COMPOSITE 17389 |
| Sicav | PHARUS SICAV |
|---|---|
| Management Company | PHARUS MANAGEMENT LUX SA |
| Investment Manager | Pharus Asset Management SA |
Risk & reward profile
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Eli Lilly, Merck and Amgen were among the best performers, supported by strong fundamentals and improving sentiment in the sector.
We are seeing early signs of a sector rotation in favour of healthcare, driven by more attractive valuations, clearer earnings visibility and lower sensitivity to macro cycles. We believe this trend could continue in the coming months, with the sector well positioned to outperform.
The portfolio remains focused on leading global healthcare companies trading at a discount. We see a significant valuation opportunity, stemming from a sector-wide downturn marked by a 25 percent earnings decline, which historically creates an attractive entry point that appears only every 5–10 years.
Last updated on 10.12.2025
| Euro Fx Curr Fut Dec25 | 81.97 % |
|---|---|
| Eli Lilly & Co | 4.97 % |
| Merck & Co. Inc. | 4.41 % |
| Pfizer Inc | 4.3 % |
| Gsk Plc | 3.65 % |
| Novo Nordisk A/s-b | 3.03 % |
| Amgen Inc | 3.02 % |
| Abbvie Inc | 2.92 % |
| Vertex Pharmaceuticals Inc | 2.89 % |
| Unitedhealth Group Inc | 2.88 % |
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 80% 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 characteristics promoted by the financial product and must represent at least 80% 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 20% 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