Handelsbanken Nordiska Småbolag (B1 SEK)

Legal name: Handelsbanken Nordiska Småbolag (B1 SEK)
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.

The fund is actively managed and invests in equities and equity-related instruments issued by small and mid-sized companies headquartered in Sweden, Norway, Denmark, Finland and Iceland, or in companies traded on a regulated market in the Nordics. The fund thereby has a currency exposure in these markets. Investments are made in companies with market values at the time of the investment that do not exceed the market value of the largest company in the fund’s benchmark index. The fund may also invest in larger companies and in unlisted companies if we deem this to be beneficial to unit holders.

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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Tore Marken

Fund manager

Tore Marken Experience in the fund industry 1996. Portfolio Manager since 1 January 2008.
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: 3
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 SEK
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Handelsbanken Nordiska Småbolag (B1 SEK) (SEK)

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
1,089.97 SEK 0.19% 1.90% 17.98% 5.56% 1.83% 46.89% 163.93%

Portfolio 09.07.2025

Portfolio manager comments — Q2 2025
Fund performance was positive during the quarter, rising by nearly 7% in SEK.

Nordic equity markets were characterized by volatility. The Nordic small-cap index rose in line with broader markets, although performance varied between countries. Denmark was the weakest, posting declines, while Finland and Norway showed the strongest performance, followed by Sweden.

The quarter began with sharp swings in trade policy. On April 2, the White House announced increased tariffs, which immediately caused equity markets to fall. Just a week later, on April 9, a 90-day pause was announced and the rhetoric softened. At the same time, Nordic companies delivered mixed quarterly reports, with tariff concerns weighed against signs of an emerging economic recovery in Europe. In this environment, we continue to favor companies with strong local presence over export-dependent players.

May and June brought renewed energy to the markets. New trade agreements with China and the UK boosted risk appetite, while improving US economic data supported sentiment. Europe presented a more mixed picture, with rising industrial production but continued weak order intake. In June, major US indices reached new highs, driven by calmer geopolitics, expected rate cuts as early as September, and continued momentum in the tech sector. July will be a stress test—if trade tensions continue to ease, rates fall, and macro data remains stable, there is good reason to believe that summer optimism may persist.

During the quarter, the fund increased its holding in Balder and reduced its position in Valmet. Among the top contributors to performance were Norbit and Asker, while Zealand Pharma and Afry were among the weaker performers.

Portfolio distribution 30.06.2025

Geographic breakdown 30.06.2025

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