Pharus Sicav Target
| Net Asset Value | 74,31 CHF |
|---|---|
| Fund Size | 30.371.959 CHF |
| Launch Date | 27 mar 2017 |
| Sicav | PHARUS SICAV |
|---|---|
| Management Company | PHARUS MANAGEMENT LUX SA |
| Investment Manager | Pharus Asset Management SA |
Risk & reward profile
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On the rate front, we saw a lowering of both the US and German curves. In the U.S., economic growth has shown signs of slowing, accompanied by easing inflation, but with core levels still above the FED's targets. This has led the FED to maintain a cautious stance. A position also maintained by the ECB, despite the fact that Europe is experiencing falling inflation, flanked by less reassuring labor market and growth data.
At the level of credit spreads, there is no change for the HY component, but there is a slight widening of the IG component. We believe that the segment can benefit from the monetary easing cycle, also aided by a high level of diversification both geographically and in the quality of individual issuers.
Last updated on 19.12.2024
| Us 10yr Note (cbt)mar25 | 11.13 % |
|---|---|
| Euro-bund Future Mar25 | 10.81 % |
| Webuild Spa 7% 27.09.28 | 2.73 % |
| Teva Pharm Fnc Nl Ii 7.375% 15.09.29 | 2.68 % |
| Lagfin Sca 3.5% 08.06.28 | 2.46 % |
| Ima Industria Macchine Tv 15.04.29 | 2.01 % |
| Ima Industria Macchine 3.75% 15.01.28 | 1.95 % |
| China Water Affairs Grp 4.85% 18.05.26 | 1.8 % |
| Ispim 3 3/4 Perp | 1.66 % |
| Walgreens Boots Alliance 2.125% 20.11.26 | 1.57 % |
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
30.09.2024