Factsheet: October 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
US markets were up for the relevant period: +3% for the S&P 500, -0.77% for the Nasdaq 100 and +7.26% for the Dow Jones Industrials in spite of another set of higher than expected inflation numbers that came out during the month.
Once again, the oil sector was the best performer for the month, with the Oil & Gas Equipment sector up a whopping +42.72% and the Integrated Oil & Gas sector up +25.93%. On the other side of the ledger, the Automobile Manufacturers sector was down -10.21%.
The Fund
The FFM American Growth Fund was up for the relevant period by +1.85%, underperforming most indices, which comes as little surprise given the strength of the oil sector, which the fund is not invested in.
The monthly top three consisted of Visa (+16.61%), Adobe (+15.73%) and Autodesk (+13.73%). Among worst performers, Meta (-31.34%) dropped heavily due to declining profits and massive investments in the Metaverse which struggles to convince despite a constantly growing daily user base, followed by Estee Lauder (-7.14%) and PayPal (-2.89%).
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