Handelsbanken Finland Småbolag (A9 EUR)

Legal name: Handelsbanken Finland Småbolag (A9 EUR)

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 mainly issued by small and mid-sized companies in Finland or that have a minimum of 50% of their business operations or market in Finland. As a result, the fund has a currency exposure to these markets. We place particular emphasis on ensuring that the company's strategy concurs with our assessment of what can generate favourable share price performance in equities as well as that the valuations are attractive when we select equities for the fund.

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

Jyrki Nyberg Experience in the fund industry 1998. Portfolio Manager since 1 March 2021.

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. 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 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 entails exposure to smaller companies that frequently have lower liquidity. In general, the variation in liquidity is considered to be higher relative to the equity market overall. 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™

31.10.2024

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).

30.09.2024

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 EUR

2024

1 year

3 years

5 years

10 years

Handelsbanken Finland Småbolag (A9 EUR) (EUR)

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 22.11.2024	1 week	1 month	3 months	2024	1 year	5 years	10 years
11.23 EUR	-1.58%	-4.75%	-5.87%	-0.71%	7.67%	-	-

Portfolio 16.10.2024

Portfolio manager comments — Q3 2024

Fund performance was positive and the fund rose just over 1% in SEK during Q3. Market sentiment was marked by concerns about a weakening of the economy and the labor market, particularly in the US. This led to a sector rotation, where defensive equities were purchased, while cyclical and more risky assets were sold. The weak consumer climate in Finland also contributed to the weak performance for companies within consumer discretionary. At the same time, the declining inflation made it possible for central banks to adopt a more expansive monetary policy. In addition, China initiated the implementation of economic stimulus measures. In September, the US central bank began lowering interest rates with a sharp cut of 50 bps. This decision was made based on growing concerns about a weaker labor market and the risk for a recession. As expected, the European Central Bank also cut its key rate and the central banks are expected to continue with additional rate cuts ahead. Despite weak industrial data on both continents, the service sector showed marginally stronger results.

Industrials was the strongest performing sector, while the raw materials sector was the weakest. Five portfolio companies issued positive profit warnings, while six issued negative warnings. The negative profit warnings were primarily concentrated to the consumer discretionary sector. The fund added new investments in Revenio and Sanoma, but sold positions in Aspocomp, Enento, Kamux, Kempower, Mandatum, Metsä Board and Sitowise. Konecranes, Kesko and Orion were the strongest contributors to fund returns, while Stora Enso, Bittium and Optomed had the most negative impact.

The central banks are continuing to cut interest rates, which is supportive for both the economy and the equity markets. The situation for consumers in Finland is expected to improve as interest rates decline and real incomes increase. The construction sectors appear to have bottomed out, with housing sales and mortgage data already showing signs of a recovery. Company earnings outlooks are also improving.

Portfolio distribution 31.10.2024

Geographic breakdown 31.10.2024

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.