Handelsbanken Norge (A9 SEK)

Legal name: Handelsbanken Norge (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 on the Norwegian market.

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 5/7

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. Given that the fund does not have five years of historical performance, the risk indicator has been estimated based on the fund’s benchmark index (see above under the heading, Objectives and Investment Focus).

This shareclass belongs to category 5, which means there is a medium-high 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™

30.06.2024

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).

31.05.2024

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 SEK

2024

1 year

3 years

5 years

10 years

Handelsbanken Norge (A9 SEK) (SEK)

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 19.07.2024	1 week	1 month	3 months	2024	1 year	5 years	10 years
133.17 SEK	-0.20%	-1.14%	6.32%	10.35%	20.64%	-	-

Portfolio 11.07.2024

Portfolio manager comments — Q2 2024

Fund performance was positive in Q2 and the fund rose 6.5% in SEK. The period was marked by positive macroeconomic growth and higher risk sentiment. This led to a broader upturn where large, mid-sized and smaller companies benefited from the increased interest from investors.

Financials, communication services, industrials and technology were the strongest sectors and the fund’s overweights in these sectors benefited from the strong performance. We increased the exposure to DNB during the quarter after a weak period. Together with the overweights in Sparebankene Rogaland, Midt-Norge, Nord-Norge and Vest, the fund was well-positioned to gain from the rebound in the bank sectors. The overweight in Schibsted and Telenor within communication services also continued to contribute positively. Within the industrials sector, Höegh Autoliners was the strongest positive contributor. The underweight in Tomra was also positive for returns. Within technology, Crayon was the strongest equity, with a significant contribution to the fund’s total returns as a result of an upturn of over 60% to the share price. Raw materials, salmon and real estate were the only sectors that posted a downturn during the period, which benefited the fund due to its underweights in these areas. Autostore had a negative impact on returns in the period.

We are retaining our positioning in general for Q3 but are noting that market performance has been exceptionally strong since October 2023, with historic peaks in many markets worldwide, including Norway. We are looking forward to the upcoming Q2 reports, which are expected to give new indications about the direction of our holdings and future performance.

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.