Pharus Sicav Medical Innovation
| Net Asset Value | 124,31 EUR |
|---|---|
| Fund Size | 8.858.015 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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Among the month's top positive contributors were Gilead, a leading biotechnology company, and GE Health Care, a leading medical device company. Among the worst performers were Ionis, a biotechnology company developing RNA-targeted therapies; and Astrazeneca, a UK pharmaceutical company. In September, we took profits from Thermo Fisher and United Health to allocate to some Chinese health care companies at a significant valuation discount.
The portfolio allocation is focused on leading global health care companies at a valuation discount. We believe the portfolio has a very significant valuation discount from a recession that has hit the sector, with profits falling by 25%, which has created an opportunity in the sector that only occurs every 5-10 years.
Last updated on 28.10.2024
| Gsk Plc | 2.96 % |
|---|---|
| Gilead Sciences Inc | 2.9 % |
| Pfizer Inc | 2.75 % |
| Sanofi | 2.74 % |
| Roche Holding Ag-genusschein | 2.64 % |
| Bristol-myers Squibb Co | 2.55 % |
| Zimmer Biomet Holdings Inc | 2.55 % |
| Veeva Systems Inc-class A | 2.53 % |
| Johnson & Johnson | 2.51 % |
| Astrazeneca Plc | 2.45 % |
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
28.06.2024