Handelsbanken Europa Selektiv (B9 EUR)

Legal name: Handelsbanken Europa Selektiv (B9 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 16-35 equities over the long term that are issued by European companies and thereby has a currency exposure to these markets. Our focus is to construct a portfolio of high-quality companies with a variety of drivers and good outlooks and a reasonable valuation.

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

David Cederberg Experience in the fund industry 2000. Portfolio Manager since 1 June 2023.

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 a limited number of regions or issuers, the fund normally has a higher risk relative to investments that are allocated with a broader geographical distribution and across a larger number of issuers.

The fund's investment focus means that the fund may have significant exposure to a limited number of equities, which can result in lower liquidity than if the fund had a greater number of holdings. 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).

Sustainability-
rating

The fund does not have a sustainability rating. This can in part be due to that fund has not had a fund portfolio in which 67% of the holdings have been able to be analyzed over the most recent 12 months. Another reason can be that there are fewer than 30 funds in the same global Morningstar category that could be evaluated pursuant to the above. The rating is developed by the independent fund information company Morningstar.

The fund complies with the UN Principles for Responsible Investments.

Graph

Performance

Monthly savings

In percent including distribution in EUR

2025

1 year

3 years

5 years

10 years

Handelsbanken Europa Selektiv (B9 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 04.02.2025	1 week	1 month	3 months	2025	1 year	5 years	10 years
10.01 EUR	0.91%	-	-	-	-	-	-

Portfolio 15.01.2025

Portfolio manager comments — Q4 2024

Fund performance was negative during Q4, with several significant holdings declining after individual events. The largest declines were noted in ASML, Novo Nordisk, AstraZeneca and Ashtead Group. In the case of ASML, major customers postponed deliveries of placed orders that will also make 2025 a year of weak growth. Together with export restrictions in China, this has led to a decline in the valuation of the equity. Novo Nordisk fell sharply in conjunction with the publication of clinical trial results that did not meet expectations. We believe that the extent of the decline is not warranted given that further information is required to assess the quality of the study results. AstraZeneca has been weighed down by uncertainty about the CEO of the operations in China and possible consequences for the company where they previously placated authorities with investments in the country. Ashtead Group has recently been affected by a setback after overinvesting in the post-pandemic upswing, which we view as transient in light of the investment program and plans for industrial expansion being launched in the US. The fund also lost ground due to an insufficient exposure to the financial sector outside of Northern Europe.

We can highlight Compass Group and SAP as the strongest contributors during the quarter, which both have shown stable growth that we expect will continue in 2025. The third primary contributor is a new investment, BMW, where we see a potential for higher distributions in the coming years based on a strong balance sheet and decreased investment requirements after the launch of their new product platform.

The fund’s focus for 2025 is a balance between structural growth and defensive holdings, as well as a broadening of the exposure within the financial sector.

Portfolio distribution 31.12.2024

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.