Handelsbanken EMEA Tema (A1 NOK)

Legal name: Handelsbanken EMEA Tema (A1 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 in equities issued by companies in the EMEA region (Eastern Europe, including the former Soviet republics and Greece, the Middle East and Africa). As a result, the fund has a currency exposure to 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.

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

As a result of the trading restrictions on the Moscow stock exchange, the fund has not been able to sell and therefore still has a few Russian holdings left. Our valuation of these holdings is currently close to zero and will be sold as soon as conditions permit. We will not be making any new investments in Russia.

Fund manager

Christopher Sundman Experience in the fund industry 1987. Portfolio Manager since 1 January 2011.

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.

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 4, which means there is a medium 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.

An investment in an equity fund is generally characterized by high risk as the value of the equities can fluctuate significantly over time but also has the potential for high returns.

The indicator primarily reflects the upturns and downturns in the value of the fund’s equity investments and fluctuations in exchange rates.

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

Given that the fund’s investments are concentrated to one region, the fund normally has a higher risk relative to investments that are allocated with a larger geographical distribution and across several regions or countries.

The fund's investment focus entails exposure to markets that frequently have lower liquidity, and the variation in liquidity is considered to be higher relative to more developed markets. This can impact the fund's ability to manage significant outflows at a relatively low cost.

Risks that have not been captured by the risk indicator include: Operational risk - the risk for loss due to unforeseen policy decisions or weaknesses in a country’s securities regulations. 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).

31.05.2024

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 NOK

2024

1 year

3 years

5 years

10 years

Handelsbanken EMEA Tema (A1 NOK) (NOK)

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 22.07.2024	1 week	1 month	3 months	2024	1 year	5 years	10 years
518.28 NOK	2.30%	6.10%	12.87%	18.06%	21.60%	31.45%	50.29%

Portfolio 11.07.2024

Portfolio manager comments — Q2 2024

Performance in EMEA was strong during the quarter with an upturn of just over 4%, while the fund posted even greater strength and rose just over 7% in SEK.

The strongest markets were South Africa as well as Turkey, in which the economy continues to recover with declining inflation from very high levels. Several of the fund’s strongest contributors are also Turkish companies within the population growth with increased consumption theme such as the food chain BIM and the mobile operator Turkcell, which both rose just over 45%. However, the strongest performer was the clothing chain Mavi, which rose 70%. South Africa rose after the sitting president Ramaphosa retained his post after the parliamentary election. Although ANC lost its majority, they built a broad coalition with several parties, with DA as the most important, and also received several minister positions in the government. The market saw a broad upturn within all of the themes in which the fund has exposure.

Kuwait and Egypt were the weakest performers due to uncertainty about the results of reforms, which led to a decrease in the fund’s exposure to these countries. We decreased the fund’s holdings in TBC Bank in Georgia as a result of political uncertainty and a fragmented political direction. Despite this, growth in the country remains strong and we are carefully following developments. Several countries in the region also continued to cut interest rates and we expect several additional cuts during the autumn, which are intended to stimulate further growth during the full-year 2024.

Portfolio distribution 30.06.2024

Geographic breakdown 30.06.2024

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.