Factsheet: August 2024
Strategy
The Fund's objective is to achieve optimal long-term capital growth through active management of a portfolio of large-capitalisation stocks based primarily in North America.
The investment strategy is based on fundamental analysis. The stock selection process is based in particular on the activities of the companies, their governance, financial structure and development perspectives. The fund aims above all to identify companies with dominant positions, with a significant reinvestment capacity and low levels of gearing.
The recommended investment period is 5 years. The reference currency is the US Dollar.
Markets
US markets had a good month, despite the debacle in the first days of August, linked to the explosion of one of the biggest carry trades of all time. The S&P 500 was up +2.28%, the Nasdaq 100 up +1.10%, and the Dow Jones Industrials up +1.76%.
Sector wise, the Multi-Family Residential REITs sector was up strongly at +10.60%, while the Oil & Gas Equipment Sector lost -9.30%.
The Fund
FFM American Growth ended the month (07/31/2024 - 08/28/2024) up +1.25%, exactly in line with the S&P 500 (+1.27%) and outperforming the other relevant indices over the same period, with the Nasdaq 100 down -0.06%, and the Dow Jones Industrials up +0.61%.
The monthly top three consisted of Crowdstrike (+19.54%), Uber (+13,43%), and Palo Alto Networks (+11.70%). On the other side, we find Valero (-8.65%), Disney (-8.63%), and Alphabet (-4.76%).
During the month, we sold our investments in Nucor and Disney. We also reduced our investment in Adobe, to increase the weighting in our existing investments in Uber and Nvidia.
Disclaimer: Past performance is not a reliable indicator of future performance and in no way constitutes a guarantee of future performance or capital. This non-contractual document is for information purposes only and does not constitute an offer for sale.
Prior to any investment, we recommend that you consult your advisor for a better understanding of risks. In the event of disagreement or litigation arising from this document, the full prospectus will prevail.
For more information, please email us: contact@fisconsult-sinews.com
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