SEB Global Focus Fund
Fact sheet as of 23 April, 2024
Past performance does not guarantee future performance. The value of investment funds and other financial instruments may rise as well as fall and there is no guarantee you will recover your original investment. Key Information Document and prospectuses are available on www.sebgroup.lu/funds.
INVESTMENT TEAM
The fund is managed by the fundamental global equities team, with Johan Söderström and Alexander Winberg as lead portfolio managers. The Stockholm-based team has long, solid experience of fundamental equity management.
risk measures 1
| Standard Deviation (Fund) | 19.2 |
|---|---|
| Standard Deviation (Index) | 19.2 |
| Tracking error | 3.18 |
| Sharpe Ratio | 0.32 |
| Information Ratio | -0.41 |
| Alpha | -1.31 |
| Beta | 0.99 |
| Active share | 77.92 |
Other information
As of 2 November 2016, the fund´s Management company is SEB Investment Management AB. SEB works actively with sustainability and follows the UN Principles for Responsible Investments. Read more at www.sebgroup.com
SEB Global Focus Fund, 23 April 2024
Investment comment
- Continued strong equity market globally
- Two new holdings in the fund
- Continued concentrated portfolio with a focus on high-quality companies
Market Update
The world's equity markets continued their positive development in March. Both mature and emerging markets rose, and the US continued to be one of the strongest stock markets. The positive sentiment in Asia continued, driven by technology and hopes of lower interest rates. Korea was one of the strongest Asian equity markets. A more cautious tone from the US. Federal Reserve (Fed) benefited equities during the month. This is despite that inflation has become somewhat more entrenched in the United States than in Europe. The US. dollar continued to show strength against most other currencies.
Fund update
The fund increased in value in March but performed slightly weaker than its benchmark index. The fund's choice not to own Apple continued to benefit relative performance. Relative to its benchmark index, the fund also benefited from the fund's overweights in TSMC and Core & Main. The fund's overweights in Adobe, Accenture and Relx weighed on the relative performance the most. In March, the fund chose to sell its holdings in Endava and Globant. The fund has taken a new position in the test company Intertek and the fund participated in the IPO of Galderma.
Strategy going forward
Investment decisions in the fund are based on fundamental analysis where the managers focus on understanding and getting close to the companies they invest in. As a result, the fund will be relatively concentrated with approximately 50 holdings. The fund focuses on high-quality companies with high returns on capital, a strong market position and good growth opportunities. To invest in shares is to own a part of a company and we are convinced that it is beneficial over time to invest in high-quality companies that can continue to create value.
Key Facts
| Year of launch | 1988 |
|---|---|
| Value at launch (USD) | 1.00 |
| Benchmark | MSCI AC World Net Return Index |
| Fund Management Company | SEB Investment Management AB |
| SRI scale 1-7 | 4 |
| ISIN | LU0030158231 |
| Base Currency | USD |
| Share Class | C (USD) |
| Legal Structure | UCITS |
| Morningstar rating | |
| Turnover Ratio | 1.501 |
| Use of derivatives | Yes2 |
Dividend
Non-distributing share class
Fund costs
More information
Welcome to contact your financial advisor for more information or visit www.sebgroup.lu.
Important information
This material is prepared by SEB and contains general information regarding financial instruments marketed, sold or solicited by SEB. SEB is the global brand name for Skandinaviska Enskilda Banken AB (publ), its subsidiaries and affiliated companies. Neither this material nor the products described in it are intended for distribution or sale in the United States or to US persons, and any such distribution is not allowed. The offering of shares or units in the funds may also be restricted in other jurisdictions. This document may not be used to make an offer or solicitation with respect to the sale of shares or units where such an offer or solicitation is unlawful. Although the information in this material is based on sources deemed by SEB to be reliable, SEB assumes no liability whatsoever for incorrect or missing information or for any loss, damage or claim arising from the use of this material. Past performance does not guarantee future performance. The value of investment funds and other financial instruments may rise as well as fall and there is no guarantee you will recover your original investment. If you or a fund invests in financial instruments denominated in a foreign currency, changes in currency exchange rates can affect the return on the investment. SEB makes no representation that funds whose share or unit classes aim at hedging the fund’s return from changes in currency exchange rates will succeed in achieving this. Any tax information in this material is based on regulations valid as per the date of this presentation and may be subject to change. Note that any tax information in this material is general. Kindly contact your SEB investment advisor for tax and investment advice appropriate for your situation. You are fully and solely responsible for your investment decision. This material is not intended for or suitable as the sole basis for investment decisions. Instead, you should base your decision on the information in the fund’s product documentation, including its fact sheet, Key Information Document, fund regulations and prospectus. These are available on www.sebgroup.lu/funds. Thursday, April 25, 2024 7:09:11 AM