SEB Danish Mortgage Bond Fund

Fact sheet as of 25 April, 2024
Printable version

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.

This actively managed fund focuses on Danish mortgage bonds and Danish government bonds. The fund invests in bonds from issuers with credit ratings ranging from AAA to a minimum of BBB- on Standard & Poor's scale or the equivalent. The fund manager performs a credit risk assessment prior to investing. The fund's return is compared to a composite index consisting of 60% Nykredit Danish Mortgage Bond Index, 25% Bloomberg Series E-Denmark Govt All > 1 Yr Bond Index and 15% Nykredit Constant Maturity 3Y Non-callable Index.

INVESTMENT TEAM

The investment team is based in Copenhagen and led by Michael Denbæk, SEB Investment Management AB. The team uses a prepayment model aiming at predicting prepayment and buy-back behavior in the market. The model is created and continuously developed by SEB Merchant Banking.

Performance (EUR)

NAV: 122.12 (4/25/2024). AuM (M EUR):1,428.50 (3/28/2024)
When calculating the returns the inflation is not taken into account

Return % EUR

Accumulated
since 		Fund Benchmark*
1 day -0.22 -0.14
1 month -0.96 -0.81
6 months 4.80 4.68
1 year 3.98 4.40
2 years -5.64 -4.96
3 years -17.19 -15.23
5 years -18.88 -15.62
Year to date -0.77 -1.05
Average annual growth
3 years -6.09 -5.36
5 years -4.10 -3.34

* Benchmark, including dividends

Largest positions1 Share  %

Denmark Government Bond 2.250% 331115 7.4
Realkredit Danmark A/S 5.000% 531001 5.4
Nykredit Realkredit 3.500% 530401 4.4
BRFkredit A/S 1.000% 260401 4.4
Denmark Government Bond 241115 4.1
Denmark Government Bond 0.500% 291115 3.9
Nykredit Realkredit 1.000% 270101 3.6
Nykredit Realkredit 5.000% 531001 3.5
Realkredit Danmark A/S 1.000% 270401 3.3
Nordea Kredit Realkreditaktieselskab 5.000% 531001 3.1
1Last updated 3/28/2024. Source: SEB

risk measures 1

Standard Deviation (Fund)9.6
Standard Deviation (Index)9.0
Tracking error1.23
Sharpe Ratio-0.41
Information Ratio-0.30
Alpha-0.37
Beta1.06
124 months rolling. Last updated 31 March, 2024

Other information

Michael Denbæk took over the management of the fund 1 March 2024. As of 2 May 2022, the fund changed benchmark from 75% Nykredit Danish Mortgage Bond Index and 25% Bloomberg Barclays Series E-Denmark Govt All 1 Yr Bond Index. As of 27 November 2017, the fund changed benchmark. 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 Danish Mortgage Bond Fund , 25 April 2024

Key Facts

Year of launch2008
Value at launch (EUR)100.00
Benchmark60% Nykredit Danish Mortgage Bond Index, 25% Bloomberg Series E-Denmark Govt All > 1 Yr Bond Index and 15% Nykredit Constant Maturity 3Y Non-callable Index
Fund Management CompanySEB Investment Management AB
SRI scale 1-73
ISINLU0337316391
Base CurrencyEUR
Share ClassC (EUR)
Legal StructureUCITS
Morningstar rating
Turnover Ratio0.501
Use of derivativesYes2
1From 1/31/2015
2Derivatives may only be used for hedging.

Dividend

Non-distributing share class

Fund costs

Information on the fund's fees and expenses is available in the fund's key information document (KID) or the fund's prospectus

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. Friday, April 26, 2024 11:42:24 PM