Factsheet: December 2021
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
Despite the doubts related to the Omicron variant, the US markets closed the month of December up, with the S&P 500 index gaining +4.36%, the Dow Jones Industrials +5.38% and the NASDAQ 100 +1.14%.
The job market is recovering faster than expected, but it seems that the Fed's desire to control the return of inflation is now well accepted and valued by the markets.
Once again, different sectors are at the extremes of the spectrum, with Hotels jumping +17% while the Internet Retailer sector was down -3%.
The Fund
The fund slightly outperformed the indices with +5.23% compared to +4.36% for the S&P500.
We benefited from the excellent performance of Visa (+14.73%), which rebounded sharply after its correction in July correction that began in July, Estée Lauder (+13.76%)
(+13.76%) and Stryker (+13.39%).
On the other hand, Adobe corrected by -13.40%, as a result of significant profit taking by some investors and Analog Devices posted a slight decline with -2.94%.
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