Factsheet: October 2021
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
Despite persistent tensions on production chains and spiralling energy prices, European markets rebounded strongly in October. The markets appear to have adapted to the current constraints and the growth of European activity has continued to be solid.
The Euro Stoxx 50 is up 5.15%, the CAC 40 up 4.80% and the Stoxx Europe 600 up 5.53%. Most sectors were in the green as well during the month, with the Technology sector in the lead (+8.68%) while the Telecom sector was the rare laggard (-3.32%).
The Fund
The fund did better than the Stoxx Europe 600 (6.48% vs 5.53%). The only stock that rallied, Pernod Ricard (+7.49%), benefited from the maintained level of discretionary consumption. LVMH (+0.08%) also managed to stay afloat.
Among the winners, we have Alfa Laval that led the charge (+18.06%), followed by Ferrari (+12.80%) and Novo Nordisk (+12.39% as well).
Among the rare laggards, we find Kone (-5.18%), Christian Hansen (-2.80%) and Unilever (-1.98%)
For more information, please email us: contact@fisconsult-sinews.com
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