Factsheet and Information Brochure
Factsheet
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Fund rules (175 kB)
Prospectus (1386 kB)
Periodic reports
Sustainability SFDR (995 kB)
Annual review (PF) (3106 kB)
Semi-annual report (PF) (199 kB)
Marketing material
Sustainability profile
Brief fund information
Summary SFDR (171 kB)
Pre-contractual SFDR
Pre-contractual SFDR (900 kB)
Handelsbanken Hälsovård Tema (A10 NOK)
Legal name: Handelsbanken Hälsovård Tema (A10 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.
The fund is actively managed and invests globally in equities issued by companies within the healthcare sector. As a result, the fund has a currency exposure to these markets. The healthcare sector refers to the pharmaceutical, medical technology, biotech, service and other healthcare-related branches.
The thematic investment strategy provides for investments that occur in a limited area in which development is deemed to result in a structural change to the economy and society. This change provides favorable conditions for companies active within the area to create profitable growth over time.
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 9 fund pursuant to EU regulation 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).
The thematic investment strategy provides for investments that occur in a limited area in which development is deemed to result in a structural change to the economy and society. This change provides favorable conditions for companies active within the area to create profitable growth over time.
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 9 fund pursuant to EU regulation 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).
Fund manager
Christopher Sundman Experience in the fund industry 1987. Portfolio Manager since 1 August 2022.
Fund manager
Caroline Banér Experience in the fund industry 2009. Portfolio Manager since 1 October 2024.
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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.
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31.12.2025
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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 |
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The fund has sustainable investments as its objective. Accordingly, the fund invests in companies with products and services that are considered as contributing positively to the direct fulfillment of one or several of the targets in Agenda 2030. Refer to the fund's prospectus for additional information. The fund is reported as an Article 9 fund pursuant to EU regulation on sustainability-related disclosures in the financial services sector (SFDR). Read more |
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31.10.2025
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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
Performance
| Rate 27.01.2026 | 1 week | 1 month | 3 months | 2026 | 1 year | 5 years | 10 years |
|---|---|---|---|---|---|---|---|
| 493.63 NOK | 0.17% | -1.92% | 5.13% | -1.39% | -3.36% | 53.99% | - |
Portfolio 26.01.2026
Portfolio manager comments — Q4 2025
The fund delivered positive performance during the quarter, rising by 8.5% in SEK, in line with the benchmark index*. October and November were characterized by a favorable market environment within the sector, while December was weaker but broadly in line with the overall market.
October was marked by a strong reporting season for the fund’s holdings within medical technology and biotechnology. Several companies exceeded market expectations and simultaneously presented positive clinical data. Among the strongest contributors were Thermo Fisher and Argenx, while UCB underperformed following lower than expected prescription data for Bimzelx. The fund’s focus on high quality companies within innovative drug development and medical technology was a key driver of performance.
In November, sentiment within the healthcare sector remained constructive. Strong quarterly reports and progress in drug development provided support, while political and regulatory developments affected individual stocks.
UnitedHealth outperformed the sector despite short term impact from political statements regarding healthcare reforms in the US. AstraZeneca also contributed positively, supported by strong third quarter results and continued progress within the company’s oncology portfolio. The diagnostics company Natera performed strongly following high sales growth and an upgraded full year outlook, strengthening market confidence in the company’s long term potential. On the negative side, Boston Scientific and Thermo Fisher underperformed.
Healthcare stocks weakened again in December, but broadly in line with the market. Among the strongest positive contributors were Krystal Biotech and the fund’s largest holding, Eli Lilly, partly driven by encouraging clinical data for the company’s oral obesity drug candidate orforglipron.
Cencora had a negative impact following more cautious guidance for 2026, despite a strategic acquisition within oncology pharmaceuticals. The stock has, however, contributed positively over the year as a whole, and the share price development is assessed to largely reflect profit taking ahead of 2026.
Political statements from Trump regarding demands for price reductions from large pharmaceutical companies were met by a number of agreements. The impact on the sector proved less negative than initially feared. The healthcare sector continues to trade at a discount to historical levels, providing conditions for relatively favorable performance in 2026.
Additional positive contributors during the quarter included Nurix Therapeutics, which initiated the pivotal Phase 2 DAYBreak study with the drug candidate bexobrutideg. Previous positive clinical data contributed to strengthened investor confidence.
On the negative side was Innovent Biologics, whose share price underperformed despite seven of the company’s drugs being included on China’s list of state subsidized products. The weakness is primarily assessed to be driven by technical factors related to the company’s inclusion in the Hang Seng Index.
* Solactive ISS ESG DM Health Care UCITS Index NTR
Portfolio distribution 31.12.2025
Geographic breakdown 31.12.2025
