Handelsbanken Företagsobligation Investment Grade (NOK) A11

Handelsbanken Företagsobligation Investment Grade (NOK) (A11 NOK)

Legal name: Handelsbanken Företagsobligation Investment Grade (NOK) A11

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 invests in interest-bearing financial instruments that are issued by companies, mortgage institutions and states. The fund's investments have a credit rating within Investment Grade. The average remaining maturity of the Fund's investments is a maximum of 5 years. The Fund's value development varies over time and is mainly affected by the credit market. The holdings are currency hedged in NOK.

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

Erik Gunnarsson Experience in the fund industry 2006. Portfolio Manager since 3 May 2018.

Risk 2/7

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 2, which means there is a 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 normally consists of holdings with a longer fixed interest duration, which results in a higher 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.

The fund invests in corporate bonds for which liquidity is frequently lower, and the variation in liquidity is considered to be higher relative to the fixed income market in general. This can impact the fund's ability to manage significant outflows at a relatively low cost.

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).

31.08.2025

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 NOK

2026

1 year

3 years

5 years

10 years

Handelsbanken Företagsobligation Investment Grade (NOK) (A11 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.

Compare funds

Historical rates

Performance

Rate 27.01.2026	1 week	1 month	3 months	2026	1 year	5 years	10 years
126.60 NOK	0.08%	0.60%	0.99%	0.43%	5.97%	16.85%	-

Portfolio 26.01.2026

Portfolio manager comments — Q4 2025

During the fourth and final quarter of the year, credit markets were characterized by continued strong risk sentiment, primarily driven by declining inflation expectations and increased clarity regarding central banks’ interest rate paths. The Riksbank, as well as Norges Bank, which both cut rates in September, kept policy rates unchanged during the quarter, together with the European Central Bank, in line with expectations, while the US Federal Reserve continued to cut rates in October and December.

Overall, this supported increased risk appetite across both investment grade and high yield credits, but also resulted in somewhat higher rate volatility as part of the expected future US rate cuts were priced out.

Interest rates showed somewhat higher volatility but rose overall during the quarter, with the repricing of the Federal Reserve toward the end of November lifting both European and Nordic yields. Yield curves continued to steepen, primarily due to forecasts of increased government bond supply in the coming years.

Credit spreads were generally stable and continued to tighten, with rising concerns regarding certain exposures in private credit representing the main negative factor. Nordic credit spreads developed even more stably and tightened further, as the presence of private credit remains very limited. Swedish real estate companies strengthened during the final quarter as vacancy rates now appear to have peaked, with forecasts pointing to declining vacancies.

The fund’s overweight to the Nordic banking and financial sector contributed significantly to performance, while the fund’s neutral duration weighed on returns as yields rose. Despite continued compressed spread levels, credits remain attractive, particularly within the investment grade segment. Focus is on companies with strong balance sheets and low ESG risks, mainly in maturities of 3–5 years. Duration is maintained at a neutral level, with some tilt toward continued steepening of yield curves.

During the quarter, the fund invested in several new issues at attractive levels, including Wilhem, Tomra, DNB, Tele2, Rikshem, Traton, Hufvudstaden, Volvo, Boliden, Industrivärden, Lerøy, Aktia Bank, and BMW.

Portfolio distribution 31.12.2025

Geographic breakdown 31.12.2025

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.