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Ranking of funds with the highest subscription volume and amounts invested in recent months.
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All investment profilesand levels of risk tolerance, investment horizon and expected return.
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May 2026
Geopolitical Relief Sustains Highs but US Employment Flashes Warning Signals
June closed on a more favourable footing than expected, driven by the ceasefire between Israel and Iran, which eased energy prices and risk sentiment. The S&P 500 set fresh all-time highs and the STOXX 600 regained relative ground, benefiting from the correction in oil.
In the US, the labour market showed clear signs of cooling: only 57,000 jobs created in June, with downward revisions of 74,000 across the two preceding months, and the fall in the unemployment rate to 4.2% reflecting above all lower labour-force participation. In Sintra, Kevin Warsh maintained a data-dependent stance, giving no signal of imminent cuts.
In the Euro Area, year-on-year inflation slowed to 2.8%, reinforcing expectations of an ECB pause in July, following the 25 bp increase in June.
Sovereign yields stabilised after the rise associated with the conflict but remain elevated, reflecting a risk premium and inflation still above target. The central scenario remains constructive for risk assets, with the bull case hinging on confirmation of disinflation at no cost to growth.
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The information contained herein identifies the most subscribed investment funds, by amount and quantity, in the reference period by Banco Carregosa clients, not considering anypersonal element of a specific potential investor. No elements were considered to assess thesuitability of any investment or disinvestment to a specific person, therefore it should notconstitute an investment recommendation. Potential investors are responsible for theirinvestment decisions, and should carefully consider their investment objectives, financialsituation, tolerance and capacity to bear the risk of investing in the financial instruments inquestion.
Potential investors should make their own investment decisions andobtain professional clarification and advice on the characteristics and risks of the servicesand financial instruments in question, appropriate to their level of knowledge and experience,in particular, of price changes and possible loss of capital. Any subscription or redemptionorders are the sole responsibility of the potential investor, and before any investment decisionis made potential investors must acknowledge and accept the terms and conditions of thedocuments specific to each Fund, which are available for consultation herein, including the"Prospectus" and the "Key Information Document" (KID).
Management Companies may share with Banco Carregosa, as distributor, aportion of the Management and/or Distribution Fees charged by the fund, as well as offer othernon-monetary benefits. Non-monetary benefits are understood to be access to research andinvestment recommendation documents and access for Banco Carregosa employees to conferences andtraining organised by the Management Companies. In any case, the receipt of these fees does notcompromise the independence of Banco Carregosa.
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