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State-of-the-art securities

FIMARGE Funds and SICAVs

INSTRUMENTS

Monthly comment (January 2024)

The beginning of the year has seen a positive start with the S&P 500 climbing by +1.6%and the Stoxx Europe 600 by +1.3%. Looking at Fixed Income, yields have risen thismonth following a significant contraction in the fourth quarter of 2023, with the Germanten-year reaching 2.2% and the U.S. ten-year at 3.9%. In the United States,macroeconomic indicators remain positive, with the unemployment rate standing at3.7% and inflation showing a more controlled increase of +3.4% year-on-year. While PMIdata in Europe suggests ongoing contraction, the labor market remains resilient with arate of 6.4%. The earnings season has kicked off with mixed results. We highlight positiveprospects in the semiconductor sector, anticipating a growth of +10% for 2024.Conversely, in the financial sector, there's a cautious outlook for revenue growth due toexpectations of global interest rate cuts.

FIMARGE BALANCED PORTFOLIO FUND - CLASS I

year to date
-0.06
%
net asset value
102.95
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
-0.14
%
net asset value
100.06
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
2.15
%
net asset value
105.10
risk scale
6
/
7
Details
legal form
Mutual Fund (FCP)
country
Luxembourg
ISIN
LU2474268096
currency
EUR

IRIDIUM FLEXIBLE EQUITY

year to date
2.05
%
net asset value
119.63
risk scale
6
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU1244564792
currency
EUR

ALBA GLOBAL DYNAMIC

year to date
-0.49
%
net asset value
97.29
risk scale
5
/
7
Details
legal form
Andorran law SICAV
country
Andorra
ISIN
0154-01 AFA
currency
EUR

IRIDIUM BALANCED PORTFOLIO

year to date
-0.30
%
net asset value
117.67
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)