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American Growth Fund - Nov 2022

Factsheet: November 2022


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

Following on October’s stabilization, US markets were up in November. For the relevant period, the S&P 500 rose by +6.51%, the Nasdaq 100 by +5.47%, and the Dow Jones Industrials by +8.64%.


For once, the Semiconductor Equipment sector was up nicely (+18.93% for the month). On the other side of the ledger, the Automobile Manufacturers sector was down -11.66%.

AGF FUND - Sector Allocation

The Fund


The FFM American Growth Fund was up for the relevant period (26.10.22 - 30.11.2022) by +8.28%.


The monthly top three consisted of Meta (+26.77%), Analog Devices (+20.54%) and Idexx Laboratories (+18.40%). On the other side, we find PayPal (-6.19%), still lagging behind and facing strong competition from Apple Pay, Autodesk (-5.76%), and Intuit (-4.66%).



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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