Handelsbanken EMEA Tema (B1 SEK)

Legal name: Handelsbanken EMEA Tema (B1 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 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.

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 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. 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 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).

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 SEK

2024

1 year

3 years

5 years

10 years

Handelsbanken EMEA Tema (B1 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.

Compare funds

Historical rates

Performance

Rate 20.11.2024	1 week	1 month	3 months	2024	1 year	5 years	10 years
125.73 SEK	0.57%	3.24%	6.56%	20.94%	21.18%	-	-

Portfolio 16.10.2024

Portfolio manager comments — Q3 2024

Fund performance was positive during the quarter and the fund rose just over 3% in SEK. South Africa was the strongest market and rose approximately 12% in SEK. Subsequent to the election and the formation of the government, the country has begun to implement reforms that can resolve issues with the infrastructure and potentially strengthen growth. In addition, the interest rate cuts have contributed to the strong performance. Qatar and Egypt also posted strength during the period. In contrast, Turkey posted weak performance with a downturn of 17% after being one of the strongest markets during the previous 12 months. The weak performance is due to the high interest rates at 50% that aim to lower inflation. This is positive over the long term, however as the rest of the world cuts rates, we saw profit-taking after the previous upturn. The fund’s strongest contributors during the quarter included Emirates NBD (bank based in Dubai), the South African insurance company Discovery, and the South African education company Advtech, which all reported strong results and raised outlooks for the full year 2024. On the downside was the Turkish holding in Mavi, which fell sharply due to weaker outlooks after having more than doubled during the year. We decreased our holding earlier in the year but continue to see long-term potential at current levels. The South African pharmaceutical company Aspen also posted weaker than expected performance and had a negative impact on fund returns. During the quarter we decreased our holdings in the Hungarian bank OTP and the South African mobile operator MTN. At the same time, we increased our investments in UAE by adding holdings in ADCB and Emirates NBD, as well as in the South African insurance company Discovery.

Our outlook remains positive to South Africa for the remainder of the year given that the government’s reform efforts are developing in the right direction. Turkey is also heading in the right direction economically and we see the potential for positive performance going forward.

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.