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 managed by Aristotle Atlantic Partners, LLC, with Owen Fitzpatrick as lead fund manager. The management team, which has the US as its geographical base, has extensive experience in management in the US stock market.
Standard Deviation (Fund) | 20.3 |
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Standard Deviation (Index) | 19.8 |
Tracking error | 3.35 |
Sharpe Ratio | 0.28 |
Information Ratio | -0.84 |
Alpha | -2.81 |
Beta | 1.01 |
Active share | 68.02 |
As of 7 September 2022, the fund changed name from SEB US All Cap, index from Russell 3000 Net Return Index and portfolio manager from Fort Washington Investment Advisors Inc. 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
March posted strong returns with all sectors in positive territory. Expectations for a reduction in interest rates by the US Federal Reserve are still on the horizon but once again pushed out due to lingering inflation. The economy continues to hold up well in this higher for longer interest rate environment with earnings expected to provide support for equity prices.
The portfolio underperformed the Russell 1000 Index during the month. Security selection in healthcare and financials, as well as the lack of exposure to the energy sector detracted the most from relative performance. Conversely, security selection in information technology, consumer discretionary and industrials contributed. Of the fund’s holdings, the largest contributors were Nvidia, Chart Industries and NextEra Energy. Nvidia, a multinational technology company, was the largest contributor to portfolio performance as the company continues to see accelerating demand for its GPU semiconductors from hyperscalers and enterprises. The second biggest contributor was Chart Industries, which provides services and equipment for cryogenic liquefaction of gases, reporting better than expected fourth quarter 2023 earnings in late February. NextEra Energy, a renewable energy company, contributed to portfolio performance driven by a favourable outlook update provided by management during the company’s annual Renewable Development Day. The top three relative detractors were Zoetis, Bio-Techne and Accenture. There were no initiations or outright sales in March.
Many of the challenges facing the economy continue to be in focus going forward as inflation, monetary policy decisions, fiscal deficits and renewed geopolitical conflicts remain in the headlines. Nonetheless, there continue to be opportunities resulting from the resilient labour market, continued strong consumer spending and persistent tailwinds from government spending on infrastructure, semiconductors and clean energy. We continue to seek to invest in companies with secular tailwinds or strong product-driven cycles.
Year of launch | 1988 |
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Value at launch (USD) | 1.00 |
Benchmark | Russell 1000 Net Return Index |
Fund Management Company | SEB Investment Management AB |
SRI scale 1-7 | 5 |
ISIN | LU0030166176 |
Base Currency | USD |
Share Class | C (USD) |
Morningstar rating | |
Turnover Ratio | 0.201 |
Use of derivatives | Yes2 |
Non-distributing share class
Welcome to contact your financial advisor for more information or visit www.sebgroup.lu.
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 10:00:47 AM