Factsheet: February 2022
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.
Uncertainty impacted the markets, with a surge in volatility that drove the indices into the red. Taking over from inflationary agitation at the start of the year, the Ukrainian crisis crystallized fears and the indices were impacted: the Euro Stoxx 50 fell by -8.5%, the CAC 40 by -7.16% and the Stoxx Europe 600 lost -6.67%.
Most sectors also fell over the month, with the technology sector leading the move with -17.27%. Conversely, the energy sector increased by +9.41%.
The fund outperformed the indices in February, falling -5.47%. Our strong exposure to the technology sector and lack of investment in energy obviously proved unfavourable compared to the indices even if we remain confident about the medium-term outlook.
We benefited from the excellent performances of Sonova (+4.76%), Interpump (+3.09%) and Coloplast (-0.17%). On the other hand, Temenos (-16.29%), Spirax- Sarco (-11.41%) and Kone (-11.14%) corrected heavily.
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