SEB Nordic Future Opportunity Fund

Fact sheet as of 18 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.

The fund is actively managed and focuses on small to large companies, regardless of sector, in the Nordic region. The fund strives to create a positive environmental and social impact in order to achieve, among other things, the long-term goal of the Paris Agreement. The fund is managed according to a fundamental strategy to evaluate companies' management of sustainability risks and opportunities, combined with the potential to deliver long-term capital growth. Specific themes are identified that are considered to contribute to the fund's sustainable investment goals and that are in line with the Paris Agreement, the UN's Sustainability Development Goals, the EU's taxonomy for sustainable activities and/or the EU's Green Deal. These themes include, but are not limited to, energy transition, resource efficiency and circularity, sustainable transport and sustainable communities. The focus is on companies from the growth stage to larger companies with new revenue streams or enabling technologies that significantly contribute to the fund's themes. In order for the fund to reach its sustainable goal, the companies are evaluated based on their business models, starting with the thematic view, where each business model is assessed based on its contribution to the sustainability goal. The contribution is measured using a comprehensive fundamental sustainability analysis that studies the quantitative and qualitative measures that the companies take to ensure alignment with the fund's sustainable goals. The fund has an active ownership management process that aims to drive and influence the development of the companies it invests in. For more detailed information about the fund's sustainability work, see the fund's Sustainability Information Document on our Fund List.

INVESTMENT TEAM

The fund is managed by the Swedish and Nordic Equity team with Robert Vicsai and Caroline Forsberg as the lead portfolio managers. The team, based in Stockholm, has extensive experience of the Swedish and Nordic stock markets.

Performance (EUR)

NAV: 19.63 EUR (4/18/2024). AuM (M EUR):230.49 (3/28/2024)
When calculating the returns the inflation is not taken into account

Return % EUR

Accumulated
since 		Fund Benchmark*
1 day -0.08 0.19
1 month -2.48 -0.95
6 months 24.33 15.74
1 year 1.45 8.09
2 years -3.45 6.10
3 years 2.50 9.79
5 years 44.70 58.24
Year to date 2.13 2.70
Average annual growth
3 years 0.83 3.16
5 years 7.67 9.61

* Benchmark, including dividends

Sector allocation*

*Last updated 3/31/2024. Source: SEB

Largest positions1 Share  %

Novo Nordisk 9.6
Hexagon 5.9
Atlas Copco 5.0
AstraZeneca 4.9
AddTech 3.2
ABB 3.2
NKT A/S 3.2
Nibe Industrier 3.1
EQT AB 3.0
OX2 AB 3.0
1Last updated 3/28/2024. Source: SEB

risk measures 1

Standard Deviation (Fund)21.1
Standard Deviation (Index)19.0
Tracking error6.71
Sharpe Ratio0.03
Information Ratio-0.55
Alpha-3.71
Beta1.05
Active share72.02
124 months rolling. Last updated 31 March, 2024
2Active share measures the difference between the fund’s and the benchmark’s holdings. From 3/28/2024

Other information

As of 7 September 2022, the fund changed name from SEB Nordic Equity Fund and portfolio manager. As of 7 of July 2021, the fund changed name from SEB Sustainability Nordic Fund. As of 21 September 2018 the fund has a more sustainable profile and a new name; SEB Sustainability Nordic Fund. At the same time SEB Nordic Focus Fund merged into SEB Sustainability Nordic Fund. 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 Nordic Future Opportunity Fund, 18 April 2024

Investment comment

Texts as of March 2024
  • Positive performance for the Nordic stock markets in March
  • The theme Healthy societies (HS) contributed most positively to the absolute return
  • Best holdings of the month: Encavis, Envipco and Tomra

Market Update

The Nordic markets had positive developments in March. The Copenhagen Stock Exchange increased by 6.0 percent and the Stockholm Stock Exchange rose by 5.0 percent. Meanwhile, the Oslo Stock Exchange and the Helsinki Stock Exchange also had positive performances with 4.9 percent and 1.6 percent respectively.

Fund update

The fund's exposure towards the theme healthy societies (HS) contributed most positively to the absolute return with the theme resource efficiency and circularity (REC) at a second place. The theme sustainable mobility (SM) had the weakest performance during the month. Holdings in Encavis (ET), Envipco (REC) and Tomra (REC) contributed most positively to the fund's relative return on a company level. Nibe (REC), OX2 (ET) and Yubico (HS) had the largest negative effect on the fund’s relative performance. During the month, the largest net purchases were made in Envipco (REC), Yubico (HS). Bone Support (HS) and Bakkafrost (HS) while, Atlas Copco (REC), ASML (REC), Beijer Ref (REC) and NKT (ET) were reduced the most. Aker Carbon Capture (ET) was completely divested during the month.

Strategy going forward

The fund’s objective is to create a positive environmental and social impact to achieve, inter alia, the long-term objectives of the Paris Agreement, and to increase the value of your investment over time. We have a benchmark agnostic approach focusing on companies ranging from growth stage to larger companies with enabling technologies that contribute significantly to the themes: energy transition (ET), resource efficiency and circularity (REC), sustainable mobility (SM), and healthy societies (HS). We believe these themes will provide great opportunities for many years given the large change needed and the set of challenges that our society is faced with.

Key Facts

Year of launch1988
Value at launch (EUR)1.00
BenchmarkVINX Benchmark Cap Net Return Index
Fund Management CompanySEB Investment Management AB
SRI scale 1-75
ISINLU0030165871
Base CurrencyEUR
Share ClassC (EUR)
Legal StructureUCITS
Morningstar rating
Turnover Ratio0.301
Use of derivativesYes2
1From 3/28/2024
2Derivatives may be used to achieve investment objectives or 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. Saturday, April 20, 2024 12:55:57 PM