Handelsbanken Kortränta Defensiv (A10 SEK)

Handelsbanken Kortränta Defensiv (A 10)

Legal name: Handelsbanken Kortränta Defensiv (A10 SEK)

Bond 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 short-term interest-bearing securities issued in Swedish crowns. Depending on the state of the market, the fund invests in a larger or smaller proportion of interest-bearing securities issued by companies. The average remaining fixed interest duration of the fund's investments vary between one day and one year.

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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Fund manager

Mats Hydén Experience in the fund industry 1998. Portfolio Manager since 1 October 2025.

Risk 1/7

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.

About risk

The risk/return indicator illustrates the link between risk and potential returns from an investment in the fund. The indicator is based on the change in the fund’s value over the past 5 years.

This shareclass belongs to category 1, which means there is a very low risk for up- and downturns in the net asset value. Category 1 does not mean that the fund is risk-free. The fund's risk indicator can change both upwards and downwards on the scale over time, as the indicator is based on historical data that does not guarantee future risk/returns.

The risk in a fixed income fund is due in part to the average fixed interest duration on the fund’s holdings, i.e., the fund’s interest rate risk. The fund consists only of holdings with a shorter fixed interest duration which results in a lower interest rate risk.

The indicator primarily reflects the upturns and downturns in the value of the fund’s holdings in interest-bearing securities.

The indicator reflects the most important risks in the fund but excludes the following material risks:

Given that the fund’s investments are made in one country or a limited number of countries, the fund normally has a higher risk relative to investments that are allocated with a broader geographical distribution across several regions or countries.

The fund has exposure to credit risk, i.e., the risk that an issuer is unable to meet its commitments. The credit risk is derived from the issuer’s credit worthiness. The fund’s investments only include assets with high credit worthiness, so-called investment grade.

This product does not provide any protection from future market performance. You could therefore lose some or all of your investment.

Additional information about the risks may be found in the prospectus available at www.handelsbanken.se/funds.

Total Rating™

Given that the fund has less than three years of performance history, it is not rated.
Read more about the fund's rating

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).

31.07.2025

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.

About Sustainabilty rating

The fund complies with the UN Principles for Responsible Investments.

Graph

Performance

Monthly savings

In percent including distribution in SEK

2025

1 year

3 years

5 years

10 years

Handelsbanken Kortränta Defensiv (A 10) (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.

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Historical rates

Performance

Rate 17.10.2025	1 week	1 month	3 months	2025	1 year	5 years	10 years
117.20 SEK	0.08%	0.23%	0.65%	2.30%	2.76%	11.48%	-

Portfolio 09.10.2025

Portfolio manager comments — Q3 2025

In September, the Riksbank lowered its policy rate by 0.25 percentage points to 1.75 percent. The decision was made despite inflation during the summer months exceeding expectations, justified by a lower prospective inflation pressure—principally driven by continued weak economic activity and a stronger krona. The U.S. Federal Reserve also reduced its policy rate by 0.25 percentage points, bringing it to the range of 4.00–4.25 percent. The U.S. labor market has begun to show clearer signs of weakening, supporting our strategic view of a more pronounced slowdown in the U.S. economy than what the market has currently priced in.

Despite weak macroeconomic data and ongoing geopolitical uncertainty, global risk sentiment has remained strong, resulting in rising stock markets and decreasing credit risk premiums. The returns in short-term interest funds have gradually declined in line with rate reductions from the Riksbank and narrower credit spreads.

The funds have maintained a neutral stance regarding the direction of short-term interest rates and have slightly reduced their credit risk exposure. The price of short-term money in Swedish kronor has increased during the quarter, due to the Riksbank’s gradual reduction of excess liquidity in the financial system. A higher Stibor relative to the policy rate indicates that demand for short liquidity exceeds supply, which should marginally benefit short-rate funds’ returns going forward.

In our assessment, the market prices a somewhat too low probability of further rate cuts from both the Riksbank and the European Central Bank. We also believe that the strong risk appetite in the market is inconsistent with the development of macroeconomic indicators. Therefore, we continue to hold a overweight position in interest rate risk. The positioning for steeper yield curves in Sweden, the U.S., and Europe developed favorably during the quarter. We have partially closed some of these exposures but also extended durations as the central bank cycle nears its end. Investments in secured residential bonds, bonds issued by Swedish municipalities, and supranational institutions such as the European Investment Bank also contributed positively.

Portfolio distribution 30.09.2025

Geographic breakdown 30.09.2025

Svenska Handelsbanken AB (PLC)

Historical yields are not a guarantee of future returns. The money you invest in a fund can both increase and decrease in value and it is not guaranteed that you will recover the entire invested amount.
Handelsbanken does not assume liability for any errors in the information.

Handelsbanken's funds are classified in seven risk classes, 1 for the lowest risk and 7 for the highest risk.