Pharus Sicav Medical Innovation

Class B
ISIN: LU1491986102
Category: Sector Equity Biotechnology
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05.06.2025
Key Information
Net Asset Value1.078,87 EUR
Fund Size1.860.961 EUR
Launch Date 2 ott 2012
Key Information
Management information
SicavPHARUS SICAV
Management CompanyPHARUS MANAGEMENT LUX SA
Investment ManagerPharus Asset Management SA
Key Information
Investment objective
The Fund's objective is to achieve capital growth by investing in pharmaceutical and biotechnology companies or those belonging to the healthcare equipment and medical devices macro sector. These are companies that are leaders and at the forefront of innovation in the medical field, trading at valuations at a discount to their intrinsic value. The sector is characterized by strong short-term as well as medium- to long-term growth trends and embraces health technology innovation and digital health care.
Key Information

Risk & reward profile

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05.06.2025
Manager comment
Manager comment
In May, Pharus Medical Innovation recorded a performance of -3.1%. Among the top positive contributors was Novo Nordisk, a market leader in diabetes treatment. Among the worst performers were Eli Lilly, another leading diabetes company, and UnitedHealth, which was significantly impacted by potential regulatory changes. No transactions were made during the month. The portfolio allocation is focused on global leading companies in the Health Care sector that are currently trading at discounted valuations. We believe the portfolio offers a significant valuation discount, driven by a sector-specific recession and a 25% drop in earnings, which has created an opportunity in the sector that typically arises only every 5 to 10 years.
Documents
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Last updated on 05.06.2025

* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
Euro Fx Curr Fut Jun25 94.01 %
Ge Healthcare Technolog-w/i 3.97 %
Novo Nordisk A/s-b 3.91 %
Amgen Inc 3.81 %
Pfizer Inc 3.61 %
Merck & Co. Inc. 3.52 %
Johnson & Johnson 3.45 %
Cvs Health Corp 3.39 %
Molina Healthcare Inc 3.1 %
Abbvie Inc 3.08 %
Top Ten Holding
How to invest
SFDR Article: 8

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:

Social characteristics promoted are mainly represented by the below:

  • Security of products and health
  • Human rights and human dignity
  • Equality labour conditions
  • Governance
As of 31.03.2025
As of
1
Enviroment
2
Security of products and health
3
Human rights and human dignity
4
Equality labor conditions
5
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.

As of 31.12.2022

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

Involved in controversial weapons production whose revenues deriving from the production of nuclear, biological and chemical weapons are higher than 5%
Whose revenues deriving from gambling sector is higher than 5%;
Whose revenues deriving from the tobacco production is higher than 5%;
Whose revenues deriving from adult entertainment sector is higher than 5%;
Which do not respect the principles of United Nation Global Pact.

In addition to the above, another binding element is the use of ESG ratings. The certified portfolio average ESG Quality score is A with a portfolio ESG Rating of 7.58, which cannot fall below B.
ESG Rating
Portfolio Scores
31.03.2025
A
ESG Quality Score
7.58
Documents
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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.

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