Class C EUR · ISIN LU1253867250 · Data as at 31 August 2026
Monthly factsheet · 31 August 2026

Valori SICAV Tikehon Global Growth & Income Fund

Class C EUR

logo

1 month
0.39%
3 months
0.04%
6 months
0.42%
YTD
5.25%
1Y ann.
10.69%
3Y ann.
25.30%
5Y ann.
22.26%
Since launch ann.
44.28%

Investment target

The investment objective of the Sub-Fund is to generate long-term capital appreciation by investing directly in a diversified portfolio of equities—including Real Estate Investment Trusts (REITs)—and debt securities of any kind, encompassing money market instruments, cash and cash equivalents, as well as financial derivative instruments (FDIs).

Manager comment

Global stocks regained their poise in August amid ongoing economic resilience and a healthy corporate earnings backdrop. The US stock market rebounded, as another blockbuster Nvidia report concluded a stellar second-quarter earnings season. The Middle East backdrop remained tense, with Brent Crude oil oscillating around the $90 per barrel mark. The US government bond yield curve flattened as rate hike expectations picked up following a hawkish speech by Federal Reserve (Fed) Chair Warsh at the annual Jackson Hole Symposium, while the US Treasury unexpectedly announced plans to ramp up longer-dated bond buybacks. The stock ascent also coincided with a broad-based rise in commodity prices. Precious and industrial metal prices rose, with gold up by a tenth, as the US Treasury’s ‘interventionist’ government bond buyback announcement reignited chatter around the so-called ‘debasement trade’ (which also partly explained the softer US dollar). Government bond returns were mixed, with US yields more stable than in continental Europe, coinciding with the longer-dated US Treasury buyback announcement. Government bond yields nevertheless remained sensitive to fluctuations in energy prices and central bank rhetoric, with 10-year yields touching fresh cycle highs in several parts of the world. Meanwhile, corporate bonds outperformed, notably high yield credit where spreads narrowed to a 12-month low. Within that context the fund closed the month slightly positive at 142.42 EUR (NAV retail class C, +0,39% on a monthly basis and +5.25% year-to-date).

NAV development (historical series)

90100110120130140Oct-15Feb-17Jul-18Nov-19Mar-21Jul-22Dec-23Apr-25 142.42

Monthly returns (%, net of fees)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2021 0.79 0.70 3.01 -0.03 -0.09 2.10 0.19 0.91 -0.21 1.25 0.31 1.39 10.76%
2022 -1.66 -1.55 0.55 0.46 -2.74 -3.76 5.47 -1.64 -3.51 0.67 2.54 -3.39 -8.61%
2023 2.85 -0.97 0.48 -0.49 1.06 0.52 1.63 -1.17 -0.83 -1.62 2.97 3.09 7.61%
2024 1.57 0.42 2.26 -1.11 0.11 1.79 0.89 -0.67 0.79 0.26 3.24 -0.62 9.18%
2025 2.82 0.26 -3.29 -2.83 1.22 -0.31 2.32 -0.29 1.75 2.98 0.11 0.25 4.88%
2026 2.73 2.03 -3.11 2.15 1.42 -0.15 -0.20 0.39 5.25%

Fund terms

ISIN CodeLU1253867250
Bloomberg TickerPHTKGGA LX Equity
Minimum initial inv.1’000
AUM29,330,900 €
Launch date12.10.2015
Management fees1.00%
Performance fees5% p.a.
Latest NAV142.42
Share class currencyEUR
Investment managerValori Asset Management SA

Risk profile

Lower risk
Typically lower rewards
Higher risk
Typically higher rewards
1234567

Performance / risk metrics

Modified duration2.01
VaR3.58%
No. instruments64
Annualised volatility7.548
Sharpe ratio1.48

Sustainability rating

Valori Asset Management SA · Valori Asset Management SA · Viale Alessandro Volta 16, Chiasso (CH-6830) · T +41 91 695 80 80

Valori SICAV Tikehon Global Growth & Income Fund
31 August 2026

Asset allocation

Equities

46.56%
Bonds

26.58%
Money market

12.36%
Commodities

8.02%
Cash

6.48%
Futures – Options

-1.39%

Country allocation

Global 48.77% Eurozone 17.16% Europe 15.08% United States 9.46% International 5.17% Canada 0.99% North American Reg… 0.73% Switzerland 0.56% Eastern Europe 0.44% Greece 0.44% Altri 1.20%

Currency exposure

EUR
99.08%
USD
0.92%
This information has been prepared by Valori Asset Management SA (Switzerland), authorized and regulated by the Swiss Financial Market Supervisory Authority FINMA. This material is provided by Valori Asset Management SA (Switzerland) for informational purposes only, is intended exclusively for your use, and does not constitute an offer or a commitment, a solicitation of an offer or a commitment, or any advice or recommendation to enter into or conclude any transaction (on the indicative terms specified or otherwise). This material has been prepared by Valori Asset Management SA (Switzerland) based on assumptions and parameters determined in good faith. The assumptions and parameters used are not the only ones that might be utilized, and therefore no guarantee is given as to the accuracy, completeness, or reasonableness of any such quotations, disclosures, or analyses. A variety of additional assumptions or parameters, or other market factors and considerations, could lead to different good faith analyses or valuations of the transactions described above. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. Opinions and estimates are subject to change without notice. The information set forth above has been obtained from or based upon sources believed by Valori Asset Management SA (Switzerland) to be reliable, but Valori Asset Management SA (Switzerland) makes no representation or warranty as to its accuracy or completeness. This material does not purport to contain all of the information that an interested party may desire. In any event, interested parties should conduct their own investigation and analysis of the transactions described in this material and the data set forth in it. Valori Asset Management SA (Switzerland) may, from time to time, participate or invest in other financing transactions with the issuers of the securities referred to herein, perform services for or solicit business from such issuers, and/or have a position or effect transactions in the securities or their derivatives.
Valori Asset Management SA · Valori Asset Management SA · Viale Alessandro Volta 16, Chiasso (CH-6830) · T +41 91 695 80 80

For information purposes only. This does not constitute an offer, recommendation or solicitation to invest. Data as at 31 August 2026.