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FIMARGE Funds and SICAVs

INSTRUMENTS

Monthly comment (March 2022)

April was a difficult month for investors like the 1stquarter of the year. Several factors weighted on markets: the war in Ukraine, new lockdowns in China and an expected hawkish monetary policy driven by worrisome inflation. As such, rising yields through both credit bonds and Treasuries, together with substantial losses across growth stocks continued.
Conversely, these high quality businesses we do like to hold across our portfolios are clearly performing as expected on the fundamental side, so that drawdowns are a strong derating factor.
Companies that can maintain margins, growth and returns on capital helped by a strong pricing power should be a relative outperformers whether the tighten monetary policy we are seeing tips the economy into recession. We clearly look at these market corrections as an entry point that brings excellent annualized returns over the coming years.

FIMARGE BALANCED PORTFOLIO FUND - CLASS I

year to date
-12.09
%
net asset value
98.35
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
-12.26
%
net asset value
96.50
risk scale
4
/
7
Details
legal form
Mutual Fund (FCP)
country
Luxembourg
ISIN
LU1753744009
currency
EUR

IRIDIUM FLEXIBLE EQUITY

year to date
-19.50
%
net asset value
117.76
risk scale
6
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU1244564792
currency
EUR

ALBA GLOBAL DYNAMIC

year to date
-16.41
%
net asset value
95.98
risk scale
5
/
7
Details
legal form
Andorran law SICAV
country
Andorra
ISIN
0154-01 AFA
currency
EUR

ARMONY AGECA

year to date
-12.19
%
net asset value
109.81
risk scale
4
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU1388853720
currency
EUR

IRIDIUM BALANCED PORTFOLIO

year to date
-12.80
%
net asset value
114.90
risk scale
4
/
7
Details
legal form
SICAV UCITS (LUX)
country
Luxembourg
ISIN
LU0792718537
currency
EUR

FIMARGE INTERNATIONAL EQUITY FUND - CLASS A

year to date
0.00
%
net asset value
100.00
risk scale
6
/
7
Details
legal form
Mutual Fund (FCP)
country
Luxembourg
ISIN
LU2474268096
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)