Factsheet: April 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
Just like in the United States, European markets took a break and had a bad month, in a context of sometimes disappointing quarterly results. Over the month, the Euro Stoxx 50 was down -3.19%, the Stoxx Europe 600 was down -1.52% and the CAC 40 was down -2.69%.
Sector wise, the Basic Resources Sector led the charge at +9.50%, while the Automobiles & Parts Sector lost -6.16%.
The Fund
FFM European Selection ended the month (28.03.2024 - 02.05.2024) up -3.90%, underperforming all relevant indices over the same period, with the Euro Stoxx 50 down -3.79%, the Stoxx Europe 600 was down -1.85% and the CAC 40 was down -3.55%.
The monthly top three consisted of Alfa Laval (+12.35%), Atlas Copco (+7.02%) and Schneider Electric (+2.60%). On the other side, we find Straumann (-14.70%), Dassault Systèmes (-9.77%) and Interpump (-9.09%).
Our position in Coloplast was sold during the month, as we were disappointed with the company's performances, and we strengthened some existing positions with the result of the sale.
For more information, please email us: contact@fisconsult-sinews.com
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