Factsheet: May 2024
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
While the markets took a break in April, the month of May returned to the upward trend in all areas. In the United States, the S&P 500 is up +4.80%, the Nasdaq 100 is up +6.28%, and the Dow Jones Industrials is up +2.30%.
Sector wise, the Semiconductors Sector was up strongly at +18.24%, while the Healthcare Services Sector lost -5.89%.
The Fund
FFM American Growth ends the month (01.05.2024 - 29.05.2024) up +3.00%, underperforming the indices except the Dow Jones Industrials, with the S&P 500 up +4.95%, the Nasdaq 100 up +8.19%, and the Dow Jones Industrials up +1.42%.
The monthly top three consisted of Analog Devices (+16.89%), Texas Instrument (+11.32%),
and Taiwan Semi (+9.98%). On the other side, we find Uber (-9.72%), Intuit (-7.86%), and Disney (-6.47%).
During the month, we took some profits on Alphabet, Microsoft, Meta, S&P Global, and
Analog Devices in order to initiate new promising positions in BWX Technologies, Uber, NVR, Palo Alto Networks, and Nucor.
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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