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European Selection Fund - Oct 2022

Factsheet: October 2022


Strategy


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.


Markets


European markets were up for the relevant period by +6% for the Euro Stoxx 50, +7.13% for the Stoxx Europe 600 and +9.99% for the CAC 40.



All sectors were in the green during the month, with the Travel & Leisure sector up the most at +16.32%, closely followed by the Energy sector (+10.85%). The relative worst sector was the Food, Beverage & Tobacco sector, up only +1.14%.


The Fund


The FFM European Selection Fund was up for the relevant period by +5.31%.


The top three for the month were InterPump (+17.24%), Air Liquide (+12.54%) which is benefiting from exceptional sales and rising energy prices, and ASML (+10.24%). The three worst stocks were Temenos (-19.62%) due to expected lower net profits, Pernod Ricard (-5.90%) and L'Oreal (-3.68%), despite better third quarter sales than what was foreseen.



For more information, please email us: contact@fisconsult-sinews.com

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