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FIMARGE Funds and SICAVs

INSTRUMENTS

Monthly comment (August 2021)

7th consecutive monthly gain for the major equity benchmarks. The S&P 500 has climbed for 9 of the past 10 months and sits near its all-time high. Seems that while economic data was mixed in the month and the Delta variant continued to spread, the figures were good enough to avoid a sell-off.
With the inflation as one of the key areas of focus, further pickup in inflationary pressure could question the ECB’s monetary policy. In US, the Fed already said they expect to taper its large scale asset purchases, with probably rate increases during the next year.
The attention will be put on the early days of September in the Jackson Hole event, as main policy makers and leaders will place on the table their views on global economy and risks. For now, stocks have risen and corporate spreads have narrowed over the summer, buoyed by expectations that the economic recovery would enable corporate profits to keep expanding.
We see an imbalance between risk and multiples, so that we stick with our strategy of being invested in high quality companies more than ever.

FIMARGE BALANCED PORTFOLIO FUND - CLASS I

year to date
6.79
%
net asset value
111.42
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
6.37
%
net asset value
109.71
risk scale
4
/
7
Details
legal form
Mutual Fund (FCP)
country
Luxembourg
ISIN
LU1753744009
currency
EUR

IRIDIUM FLEXIBLE EQUITY

year to date
15.84
%
net asset value
142.41
risk scale
6
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU1244564792
currency
EUR

ALBA GLOBAL DYNAMIC

year to date
5.44
%
net asset value
113.57
risk scale
5
/
7
Details
legal form
Andorran law SICAV
country
Andorra
ISIN
0154-01 AFA
currency
EUR

ARMONY AGECA

year to date
7.54
%
net asset value
122.92
risk scale
4
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU1388853720
currency
EUR

IRIDIUM BALANCED PORTFOLIO

year to date
6.17
%
net asset value
131.48
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)