Factsheet: November 2024
Strategy
The Fund's objective is to achieve optimal capital growth over the long term through the active management of a portfolio of large-capitalisation stocks based primarily in a member country of the European Union or the European Economic Area.
The investment strategy is based on a fundamental analysis. The stock selection process is based on the activity of companies, their governance, financial structure, and development prospects. The fund aims to identify companies with dominant positions, high reinvestment capacity, and low debt.
The recommended investment horizon is 5 years. The reference currency is the Euro.
Markets
Worried by potential barriers to imports, announced growth over the long term through the active by the future Trump administration, European management of a portfolio of large-capitalisation markets had a mediocre month, with the Euro Stoxx stocks based primarily in a member country of the 50 down -0.48%, the Stoxx Europe 600 up +0.96%, European Union or the European Economic Area, and the CAC 40 down -1.57%.
Sector wise, the Financial Services Sector led the charge at +6.50%, while the Chemicals Sector lost -4.60%.
The Fund
FFM European Selection ended the month (01.11.2024 - 28.11.2024) down -0.67%, slightly
outperforming all the relevant indices over the same period, with the Euro Stoxx 50 down
-2.44%, the Stoxx Europe 600 down -0.70%, and the CAC 40 down -3.10%.
The monthly top three consisted of Essilor Luxottica (+6.69%), ASML (+5.99%), and
ABB (+5.86%). On the other side, we find Ferrari (-6.39%), DSM-Firmenich (-4.72%), and L’Oréal (-4.53%).
During the month, we exited VAT Group and increased our positions in ABB, Ferrari, RELX and ASML.
For more information, please email us: contact@fisconsult-sinews.com
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