Handelsbanken Norge (A1 NOK)

Legal name: Handelsbanken Norge (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 on the Norwegian market and thereby has a currency exposure to this market.

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

Kris Robberstad Experience in the fund industry 2016. Portfolio Manager since 1 March 2019.

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 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's investment focus means that the fund has exposure to a smaller market for which liquidity is lower, and the variations in the liquidity of the equities are considered to be higher relative to larger markets. 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™

31.12.2025

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

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).

31.10.2025

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 Norge (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 06.02.2026	1 week	1 month	3 months	2026	1 year	5 years	10 years
2,264.58 NOK	1.43%	0.39%	7.04%	-0.95%	18.28%	59.94%	161.92%

Portfolio 26.01.2026

Portfolio manager comments — Q4 2025

The fund also performed well during the fourth quarter, rising by approximately 2.5% in SEK, driven by positive excess returns during the period. For the full year, fund performance amounted to approximately 20% in SEK, placing the fund among the top‑performing funds of 2025.

October and November were characterized by the reporting season, during which corporate results came in slightly below market expectations overall. Sales development was generally solid, but operating profit and earnings per share were somewhat weaker than expected, which weighed on share prices during the period.

Global risk appetite deteriorated further during November, partly due to increased concerns about potential overvaluation related to AI. Toward the end of the month and into December, however, focus shifted toward expectations of upcoming interest rate cuts, seasonal support, and continued positive fundamental prospects heading into 2026, including for the Norwegian market. This contributed to a strong finish to both the quarter and the full year.

During the period, no major changes were made to the portfolio. From a sector perspective, the fund was overweight fisheries and seafood, banks, and technology, as well as parts of the materials and industrial sectors.

Among the largest positive contributors to performance were Salmar and Mowi, several of the savings banks, as well as Link Mobility, SoftwareOne (formerly Crayon), and Yara. Vend (formerly Schibsted) underperformed and had a negative impact on performance, as did the fund’s underweights in Norsk Hydro and Orkla.

We assess the outlook for 2026 as generally positive, but expect continued significant market volatility. Developments suggest that individual companies delivering strong results continue to be rewarded, rather than entire industries or broader market trends.

We therefore focus on maintaining portfolio flexibility and investing in carefully selected companies with positive underlying momentum and strong share price performance. We also see opportunities in investments where company‑specific events may contribute to increased value.

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.