Factsheet: January 2025
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
Despite the turbulence in the AI sector following DeepSeek's announcements, the US markets had a strong month, with the S&P 500 up by +2.70%, the Nasdaq 100 up by +2.22%, and the Dow Jones Industrials up by +4.70%.
Sector wise, the Gold Sector was up strongly at +14.78%, while the Distillers & Vintners Sector lost -17.34%.
The Fund
FFM American Growth ended the period (24.12.2024 - 29.01.25) up by +0.89%, outperforming the indices over the same period, except for the Dow Jones Industrials, which finished at +3.27%. Meanwhile, the S&P 500 saw a slight decline of -0.01%, and the Nasdaq 100 dropped by -1.77%.
The monthly top three consisted of Meta (+17.71%), Valero (+12.50%), and Uber (+10.83%). On the other side, we find Nvidia (-10.59%), Apple (-5.76%), and NVR (-1.99%).
During the month, we exited our positions in Texas Instruments, Idexx, and Valero, as they were too weak on rebounds and had low growth projections.
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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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