European Selection Fund - Aug 2024

Factsheet: August 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

Markets remained good in Europe, despite the impressive fall in the first days of August, linked to the rate increase announced by the Central Bank of Japan, and the following explosion of one of the biggest carry trades of all time. The Euro Stoxx 50 ended up +1.75%, the Stoxx Europe 600 up +1.33%, and the CAC 40 up +1.32%.

Sector wise, the Retail Sector led the charge at +4.75%, while the Basic Resources Sector lost -4.08%.

The Fund

FFM European Selection ended the month (01.08.2024 - 29.08.2024) up +3.28%, outperforming the Stoxx Europe 600 (+2.49%) over the same period, and underperforming slightly the Euro Stoxx 50 up +4.21%, and the CAC 40 up +3.67%.

The monthly top three consisted of Ferrari (+17.56%), Straumann (+12.14%), and Sonova (+11.40%). On the other side, we find ASML (-4.53%), RELX (-3%), and Gaztransport & Technigaz (-2.28%).

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