Factsheet: June 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
European markets had a weak month, mainly influenced by France and the impact of early elections. The Euro Stoxx 50 ended down -1.80%, the Stoxx Europe 600 down -1.30% and the CAC 40 down -6.42%.
Sector wise, the Technology Sector led the charge at +5.04%, while the Automobiles & Parts Sector lost -5.40%.
The Fund
FFM European Selection ended the month (30.05.2024 - 27.06.2024) perfectly stable (0%), outperforming all relevant indices over the same period, with the Euro Stoxx 50 down -1.60%, the Stoxx Europe 600 down -0.76% and the CAC 40 down -5.61%.
The monthly top three consisted of ASML (+10.73%), Novo Nordisk (+8.46%) and RELX (+7.24%). On the other side, we find Vinci (-14.04%), L’Oréal (-9.30%) and Gaztransport et Technigaz (-7.03%).
During the month, we sold our investment in stagnant Interpump and initiated a new investment in DSM-Firmenich, the Dutch-Swiss group resulting from the merger of Swiss flavor and fragrance specialist Firmenich and Dutch nutrition and health giant DSM.
For more information, please email us: contact@fisconsult-sinews.com
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