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Fund rules (200 kB)
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Periodic reports
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Semi-annual report (PF) (203 kB)
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Brief fund information
Summary SFDR (170 kB)
Handelsbanken Europa Småbolag (A1 SEK)
Legal name: Handelsbanken Europa Småbolag (A1 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 small and mid-sized companies that is headquartered in Europe or are traded in the Europe and thereby have a currency exposure in these markets. 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).
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 manager
Gisela Gardelius Experience in the fund industry 2019. Portfolio Manager since 1 March 2025.
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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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31.03.2025
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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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31.01.2025
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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 17.04.2025 | 1 week | 1 month | 3 months | 2025 | 1 year | 5 years | 10 years |
|---|---|---|---|---|---|---|---|
| 487.77 SEK | - | -4.33% | -6.65% | -5.31% | -1.28% | 25.33% | 38.05% |
Portfolio 16.04.2025
Portfolio manager comments — Q1 2025
Fund performance was negative in Q1 2025. During the period Germany and the EU launched major stimulus packages for investments in infrastructure and defense, while US equities posted a negative performance after a long period of excess returns against European equities. This resulted in passive inflows to Europe, primarily to larger companies and banks, which led to the weaker performance of small caps as a group relative to large caps. At the same time, the quarter was dominated by concerns about geopolitics and tariffs, which created volatility in the equity markets.
Fortnox, Uniphar, Embracer, CTP, Heijmans, Allegro and Biomerieux were the strongest positive contributors to fund returns. Companies such as Trainline, Embla Medical, Medcap, Applied Nutrition, and Do & Co continued to have a negative impact.
The fund invested in new holdings during the period which included Bank PKO, Barratt Redrow, Volution, Aalberts, HomeToGo and Ferrari Group. These purchases were financed through the sale of equities that included Munters, Indivior, Camurus, EDPR, Allfunds, Avanza, Publicis and Nexans.
So far this year we have seen a macro-driven market where investors are searching for exposure to Europe, which has led to significant passive inflows that have not yet reached the small caps. If this stabilizes, fund managers can move to small caps, which have had an unusually long period of underperformance relative to large caps. From a historical perspective, we believe that European small caps appear more attractive than large caps. We view the EU’s increased focus on reducing regulations and promoting growth and investments as positive for the region. The fund’s cautious view on the economy is supported by the thematic drivers among our holdings that help drive a probable earnings growth for the portfolio even if the economy remains weak.
The fund changed its portfolio manager to Gisela Gardelius on 1 March.
Portfolio distribution 31.03.2025
Geographic breakdown 31.03.2025
