Factsheet: June 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
In a context of intense political news, the American markets nevertheless had a good month, with the S&P 500 up +3.47%, the Nasdaq 100 up +6.18% and the Dow Jones Industrials up +1.12%.
Sector wise, the Application Software Sector was up strongly at +13.17%, while the Footwear Sector lost -18.90%.
The Fund
FFM American Growth ends the month (05.29.2024 - 06.26.2024) up +2.5%, underperforming the indices except the Dow Jones Industrials which ends with +1.79% over the same period, against +4.01% for the S&P 500 and +5.41% for the Nasdaq 100.
The monthly top three consisted of Adobe (+24.91%), Taiwan Semi (+15.43%) and Palo Alto Networks (+14.95%). On the other side, we find Nucor (-6.06%), Fastenal (-4.76%) and Disney (-4.45%).
During the month, we sold our investments in Intuit and Waters, both showing disappointing results and Intuit reaching the end of its capabilities. With the proceeds, we initiated new positions on Amazon, Crowdstrike, leader in cybersecurity, and Vertiv, the expert in coolers for computer servers.
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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