Factsheet: October 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 difficult month due to concerns over U.S. elections and mixed corporate results. The Euro Stoxx 50 dropped -3.46%, Stoxx Europe 600 fell -3.35%, and the CAC 40 declined by -3.74%.
Sector wise, the Banks Sector led the charge at +0.64%, while the Technology Sector lost -8.19%.
The Fund
FFM European Selection ended the month (26.09.2024 - 01.11.2024) down -5.16%, underperforming all relevant benchmark indices, with the Euro Stoxx 50 at -3.08%, the Stoxx Europe 600 at -2.80%, and the CAC 40 at -4.30%.
The monthly top three consisted of Gaztransport Et Technigaz (+5.29%), Ferrari (+4.79%) and Sonova (+4.08%). On the other side, we find ASML (-16.49%), VAT Group (-16.29%) and L’Oréal (-14.38%).
During the month, we exited our investment in Straumann.
For more information, please email us: contact@fisconsult-sinews.com
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