Handelsbanken Norge (A1 NOK)

Legal name: Handelsbanken Norge (A1 NOK)
Equity Fund Registered in Sweden (UCITS) Bid

About risk

Historical yields are not a guarantee of future returns. A fund can both increase and decrease in value and it is not guaranteed that you will recover the entire invested amount. Note that a fund with risk level 5-7, as stated in the fund's fact sheet (KID), can vary greatly in value due to the fund's composition and management methodology. The prospectus, fund rules and KID are available under each fund. Summary of investors' rights.

Fact sheet and documents Print page
Factsheet and Information Brochure
Factsheet 
Target Market
Costs and charges
Fund rules (199 kB)
Prospectus (1633 kB)
Periodic reports
Sustainability SFDR (1081 kB)
Annual review (PF) (3181 kB)
Semi-annual report (PF) (195 kB)
Marketing material
Brief fund information 
Summary SFDR (167 kB)
The fund is actively managed and invests in equities issued by companies on the Norwegian market and thereby has a currency exposure to this market.

For this fund, the fund company's Enhanced exclusion level applies. For information about sectors that the fund excludes, see the Detailed information tab.

The fund is reported as an Article 8 fund pursuant to EU regulation 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).

Fund Spotlight

The fund rules will be changed on 10 October 2025.
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Kris Robberstad

Fund manager

Kris Robberstad Experience in the fund industry 2016. Portfolio Manager since 1 March 2019.
Risk: 4/7
Risk  4/7
 
The risk indicator provides guidance on the risk level for this product relative to other financial products. It shows the likelihood that the product will decrease in value due to market performance. Risk level 1 represents a low risk and risk level 7 is a high risk.
Rating: 2
Total Rating™ 
30.06.2025
The rating shows which funds have historically posted the strongest performance in relation to risk. Ratings are denoted by a scale of one to five stars, with five as the highest rating. A fund must have a performance history of at least three years to receive a rating.
Read more about the fund's rating
EuapIndicator:1
SFDR
 
This fund promotes environmental and social characteristics through its investments but does not have sustainable investments as its objective. As a result, the fund takes into consideration the environment and climate, as well as human rights, employees’ rights and corruption.
The fund is reported as an Article 8 fund pursuant to EU regulation on sustainability-related disclosures in the financial services sector (SFDR).
  30.04.2025
Sustainability-
rating

The sustainability rating is developed by the fund information company Morningstar. The rating measures how well the fund's investee companies manage sustainability risks relative to other funds within the same global Morningstar category. If the fund has invested in government bonds issued by sovereign states, the respective country's sustainability risk is included in the calculation. The analyzed funds can receive a sustainability rating between 1 and 5 globes, with 5 as the highest rating.

The fund complies with the UN Principles for Responsible Investments.

Graph

In percent including distribution in NOK
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Handelsbanken Norge (A1 NOK) (NOK)

Note that benchmark returns, unlike fund returns, do not take distributions into account. As a result, fund returns are higher than they would otherwise be relative to benchmark.

Performance

Rate 10.07.2025 1 week 1 month 3 months 2025 1 year 5 years 10 years
2,078.64 NOK 0.60% 3.49% 17.97% 16.06% 21.58% 92.70% 136.57%

Portfolio 09.07.2025

Portfolio manager comments — Q2 2025
Fund performance was positive during the second quarter, rising by just over 9% in SEK.

The quarter began on a weak note following Trump’s so-called “Liberation Day” on April 2, when a series of new tariffs were announced. This created concern about global trade and increased the risk of an economic slowdown. However, by mid-year, much of this had been reversed, and the fund performed well.

For the first time in many years, the fund is slightly behind its benchmark index year-to-date after fees. This is primarily due to an underweight in four large defensive stocks—Orkla, Telenor, Gjensidige and DNB—which together returned around 30% during the period, compared to approximately 10% for the rest of the index. The strong performance of these companies can be attributed to their relatively stable business models in a market marked by high volatility, geopolitical uncertainty, tariff threats, and sharp downward revisions in earnings expectations for cyclical sectors.

It is a common strategy in the fund to reduce defensive holdings to free up capital for other investments, as these equities typically have low or negative correlation with the rest of the portfolio. This usually contributes to outperformance, but what is unusual this year is that these defensive stocks have performed very strongly—and simultaneously—at a much higher rate than the market overall.

Aside from these four equities, the fund has performed strongly, both in absolute and relative terms. All other sectors posted positive returns, and several holdings made significant contributions. Notable among them were Norwegian, Crayon/SoftwareOne and Link Mobility. The fund also participated in the IPO of Sentia, which has since risen by over 25%, contributing positively to results.

The fund’s overall positioning remained largely unchanged during the period, although some profit-taking occurred in strong performers toward the end. With liquid positions, we have maintained the fund’s beta and thus the flexibility to quickly adjust exposure as market conditions change. The fund’s strategy remains intact.

Portfolio distribution 30.06.2025

Geographic breakdown 30.06.2025

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