Factsheet and Information Brochure
Factsheet
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Fund rules (186 kB)
Prospectus (1638 kB)
Periodic reports
Sustainability SFDR (1078 kB)
Annual review (PF) (3182 kB)
Semi-annual report (PF) (200 kB)
Marketing material
Brief fund information
Summary SFDR (168 kB)
Handelsbanken Japan Tema (A9 SEK)
Legal name: Handelsbanken Japan Tema (A9 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 issued by companies in Japan and thereby has a currency exposure to this market.
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 8 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 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.Read more
Fund manager
Hiromi Okazawa Experience in the fund industry 2002. Portfolio Manager since 1 January 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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30.06.2025
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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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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). |
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30.04.2025
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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 10.07.2025 | 1 week | 1 month | 3 months | 2025 | 1 year | 5 years | 10 years |
|---|---|---|---|---|---|---|---|
| 127.15 SEK | -1.37% | -0.12% | 9.14% | -7.35% | -5.59% | 32.93% | - |
Portfolio 09.07.2025
Portfolio manager comments — Q2 2025
Fund performance was positive during the second quarter, rising by nearly 8% in SEK.
The Japanese equity market plunged in early April following President Trump’s announcement of new tariffs, briefly falling below the August 2024 low. However, it quickly rebounded as US equities, bonds and the dollar weakened.
In May and June, optimism spread as the anticipated impact of the tariffs appeared less severe than initially feared, helping the Nikkei regain its pre-"Liberation Day" levels.
The market experienced a shift during the quarter, with small-cap and mid-cap companies leading the rally early on, while larger and export-oriented companies performed better toward the end.
During the May earnings season, companies generally issued cautious guidance for fiscal year 2026. Many cited tariff uncertainty and a stronger yen, driven by a weakening dollar. At the same time, share buyback levels were higher than during the same period last year. There was also an increase in announced MBOs and delistings of dual-listed parent and subsidiary companies. Activist investors had greater success at this year’s AGMs, with more shareholder proposals being approved than in previous years.
Despite the market recovery, trade negotiations between Japan and the US remain unresolved, and some fundamental conditions are still lacking. Against this backdrop, the fund increased its exposure to sectors with strong domestic demand, such as IT services, construction, and IP and gaming-related companies—areas considered less sensitive to trade restrictions. At the same time, the fund reduced its holdings in larger companies with higher exposure to international trade.
NTT Data, the fund’s most overweight holding, was acquired by its parent company NTT during the quarter. The deal, which offered shareholders a premium of around 40%, made NTT Data the single largest contributor to the fund’s outperformance during the period.
Large-cap and semiconductor equities rebounded strongly in the later part of the quarter, further supporting performance.
Portfolio distribution 30.06.2025
Geographic breakdown 30.06.2025
