Pharus Sicav Global Flexible Bond
Class BH-CHF
ISIN: LU2081626249
Category: EUR Diversified Bond
31.05.2023
Key Information
| Net Asset Value | 84,91 CHF |
|---|---|
| Fund Size | 37.674.231 CHF |
| Launch Date | 1 dic 2009 |
Management information
| Sicav | Pharus Sicav |
|---|---|
| Management Company | Pharus Management Lux SA |
| Investment Manager | Valori Asset Management |
Investment objective
The Portfolio seeks to achieve a superior risk-adjusted return and capital preservation primarily in the form of interest income. The Portfolio invest in a globally diversified fixed income portfolio such as nominal or inflation-linked bonds, other fixed or floating-rate and short-term bonds, issued or guaranteed by sovereign or corporate issuers, bank deposits, money market instruments issued by sovereign, supranational or corporate issuers.
Risk & reward profile
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31.05.2023
Manager comment
During the month of May, data was generally weaker than the previous month in
almost all areas. In particular, those linked to manufacturing are particularly weak
and those of services are still strong. The Central Bank Meetings confirmed the 25-
bps hike with the possibility of another one for the FED and another 2 for the ECB.
The falling energy price (EU nat gas -30%) helped to bring down the weakening in
developed countries with the latest end-of-month data also in Europe confirming
the downward trend. The S&P (+2%) and Nasdaq (+8%) outperformed all other
markets (between -2% and -6%). Global bonds lost 2% with a strong dichotomy
between the US and EUR markets, with the latter outperforming, which finished
flat
almost all areas. In particular, those linked to manufacturing are particularly weak
and those of services are still strong. The Central Bank Meetings confirmed the 25-
bps hike with the possibility of another one for the FED and another 2 for the ECB.
The falling energy price (EU nat gas -30%) helped to bring down the weakening in
developed countries with the latest end-of-month data also in Europe confirming
the downward trend. The S&P (+2%) and Nasdaq (+8%) outperformed all other
markets (between -2% and -6%). Global bonds lost 2% with a strong dichotomy
between the US and EUR markets, with the latter outperforming, which finished
flat
Documents
Last updated on 31.05.2023
* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
| Buoni Poliennali Del Tes 4.4% 01.05.33 | 6.03 % |
|---|---|
| Bundesrepub. Deutschland 2.3% 15.02.33 | 4.02 % |
| Kfw 0.125% 07.06.23 | 3.99 % |
| France (govt Of) 0.75% 25.05.53 | 3.05 % |
| Buoni Poliennali Del Tes 4.5% 01.10.53 | 2.64 % |
| Porsche Auto Holding Se 4.5% 27.09.28 | 2.2 % |
| Eni Spa 4.25% 19.05.33 | 1.88 % |
| Telefonica Europe Bv Tv | 1.52 % |
| Intesa Sanpaolo Spa 1.35% 24.02.31 | 1.41 % |
| Intesa Sanpaolo Spa 5.25% 13.01.30 | 1.39 % |
