Factsheet: January 2024
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
Like most markets, Europe started the year well, thanks to good company results announcements for 2023 end of year and a much lower volatility, with the Euro Stoxx 50 up +2.81%, the Stoxx Europe 600 up +1.39% and the CAC 40 up +1.51%.
Sector wise, the Technology sector led the charge at +7.55%, while the Basic Resources sector lost -4.74%.
The Fund
FFM European Selection ended the month (28.12.2023 - 01.02.2024) up +2.95%, outperforming all relevant indices over the same period, with the Euro Stoxx 50 up +2.75%, the Stoxx Europe 600 up +1.21% and the CAC 40 up +0.71%.
The monthly top three consisted of ASML (+17.09%), Novo Nordisk (+10.99%) and Dassault Systèmes (+9.04%). On the other side, we find Sika (-12.45%), Alfa Laval (-5.59%) and Atlas Copco (-4.62%).
For more information, please email us: contact@fisconsult-sinews.com
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