Pharus Sicav Liquidity

Class A
ISIN: LU0159791275
Category: EUR Money Market
01.04.2025
Key Information
Net Asset Value140,86 EUR
Fund Size32.435.660 EUR
Launch Date23 dic 2002
BenchmarkBANCA FIDEURAM INDICE FONDI DI
Key Information
Management information
SicavPHARUS SICAV
Management CompanyPHARUS MANAGEMENT LUX SA
Investment ManagerPharus Asset Management SA
Key Information
Investment objective
Pharus Sicav Liquidity is Pharus' first in-house fund, with over 20 years of track record, aimed at obtaining an appropriate level of income by investing in bonds, mostly corporate, with a remaining maturity of less than 3 years and 20 days. Investment decisions are made using a bottom-up approach that analyzes the failure risk of each individual issuer in order to maintain a high-quality standard and low volatility. The portfolio is well diversified, both geographically and by sector, and foreign exchange risk is systematically hedged.
Key Information

Risk & reward profile

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01.04.2025
Manager comment
Manager comment
In February, Pharus Liquidity recorded a performance of +0.60%. During the month, interest rates in the U.S. and Europe decreased: the 2-year Treasury yields 4%, while the German government bond yields 2%. The best performers were Ubisoft, Walgreens, and China Oil & Gas, while the worst performer was Bulgarian Energy. In the month, we added Nexi, a payment services company, with a 2028 bond offering a good yield. We believe that this year careful selection is crucial given the very tight spreads. We remain convinced that the sector represents an attractive investment opportunity, given the current context and its defensive nature. Operationally, we continue to seek opportunities in the longer end of our investable universe.
Documents
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Last updated on 01.04.2025

* No coverage or derivatives are included
* No coverage or derivatives are included
Top Ten Holding
Euro Fx Curr Fut Jun25 9.69 %
Us 2yr Note (cbt) Jun25 9.46 %
Bundesobligation 1.3% 15.10.27 6.7 %
Ubisoft Entertainment Sa 0.878% 24.11.27 3.35 %
France (govt Of) 2.5% 24.09.27 3.14 %
Buoni Poliennali Del Tes 2.65% 01.12.27 3.13 %
Walgreens Boots Alliance 2.125% 20.11.26 3.04 %
France (govt Of) 0.75% 25.02.28 2.95 %
Esercizi Aeroportuali 3.5% 09.10.25 2.51 %
Banque Stellantis France 3.125% 20.01.28 2.18 %
Top Ten Holding
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