Invests in Swedish small sized companies and focuses on finding undervalued companies. Genuine stock picking, in other words.
Fund manager comment
February began with a steep stock market slide, followed by a later recovery. Small caps were generally weaker that larger companies, and the Carnegie Small Cap Index was down 1.13 %. The fund performed well and was up 1.01 %. The best contributions came from Outotec and Mycronic. Mycronic delivered a year-end report that far exceeded market expectations, and the stock surged. The shares on the downside included Troax and Hansa Medical.
The stock market decline early in the month was driven partly by technical factors in the derivatives market, as well as inflation expectations and higher interest rates. Although volatility has now risen after a prolonged low period, it still remains low in a historical perspective. Macroeconomic data were somewhat weaker than expected, but are still able to provide support.
The fund performed well and was up 1.01 %. The best contributions came from Outotec and Mycronic.
The risk and reward indicator illustrates the link between risk and potential returns from an investment in the fund. The indicator is based on how the fund’s value has changed over the past five years. Category 1 does not mean that the fund is risk free. The fund may over time move towards the left or right of the scale. This is because the indicator is based on historical data which is not a guarantee of future risk and reward. For information about the risk classification of each fund, please refer to the fund’s key investor information document.
Catella Småbolagsfond invests in Swedish small caps and focuses on finding undervalued companies. Genuine stock picking, in other words.
The fund is intended for investors seeking exposure to Swedish small caps, with a higher expected return than the Swedish stock market indices and who have an investment horizon of at least five to seven years. The fund is permitted to use derivatives and the net asset value of the fund may fluctuate considerably.