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FIMARGE Funds and SICAVs

INSTRUMENTS

Monthly comment (December 2022)

To sum up the year 2022, Russia’s invasion of Ukraine, together with shortages and bottlenecks driven by the pandemic shift in consumer spending, led to repeated inflation surprises that sent bond yields soaring, crushing equities and fixed income. That said, with estimates the world to grow at 1.7%, 2023 may be one of the slowest years for global growth in decades, to some extent driven by central bank tightening policies. Either to get inflation back to 2% targets by crushing demand down, or to live with more inflation.
For now, seems that they're all in the first choice, but as this fast hiking cycle finally hit the economy, many analysts believe central banks will stop their hikes despite inflation won’t be on track to get the so mentioned 2%. With a focus on high quality and long-duration equities, our portfolios suffered from higher rates and risk-off, even though our companies continued to strongly perform on a fundamental basis. It is clearly time to buy.

FIMARGE BALANCED PORTFOLIO FUND - CLASS I

year to date
6.05
%
net asset value
100.94
risk scale
4
/
7
Details
legal form
Mutual Fund (FCP)
country
Luxembourg
ISIN
LU1892387462
currency
EUR

FIMARGE BALANCED PORTFOLIO FUND - CLASS A

year to date
6.00
%
net asset value
98.67
risk scale
4
/
7
Details
legal form
Mutual Fund (FCP)
country
Luxembourg
ISIN
LU1753744009
currency
EUR

FIMARGE INTERNATIONAL EQUITY FUND - CLASS A

year to date
11.65
%
net asset value
105.53
risk scale
6
/
7
Details
legal form
Mutual Fund (FCP)
country
Luxembourg
ISIN
LU2474268096
currency
EUR

IRIDIUM FLEXIBLE EQUITY

year to date
11.52
%
net asset value
121.06
risk scale
6
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU1244564792
currency
EUR

ALBA GLOBAL DYNAMIC

year to date
6.23
%
net asset value
98.00
risk scale
5
/
7
Details
legal form
Andorran law SICAV
country
Andorra
ISIN
0154-01 AFA
currency
EUR

ARMONY AGECA

year to date
6.52
%
net asset value
113.16
risk scale
4
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU1388853720
currency
EUR

IRIDIUM BALANCED PORTFOLIO

year to date
5.90
%
net asset value
117.04
risk scale
4
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU0792718537
currency
EUR
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Fimarge Societat Financera d’Inversió SA
C/ Bonaventura Armengol, 10
Ed. Montclar Bloc 1, 5è 1a
Andorra la Vella
Nº Registre Societat: 5711
Nº Registre Tributari: A-700866-T
Nº Autorització AFA: SFI-04/95 (20/04/1988)