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Catella Sverige Aktiv Hållbarhet

Investments in fund units are associated with risk. Past performance is no guarantee for future returns. The money invested in a fund can increase and decrease in value and it is not certain that you will get back the full amount invested. No consideration is given to inflation.

Sustainability is the objective of the Catella Sverige Aktiv Hållbarhet fund, which actively seeks to identify companies where sustainability is embedded in the business concept. 

Turnover is higher in active management than in traditional equity funds and the fund aims to deliver return that exceeds its benchmark over time. Investments are selected for the fund through a combination of financial and sustainability analysis. The investment process is based on the conviction that there is a connection between a sustainable business model and persistent profitability and growth over the long term, and that this is often underestimated by the market. Having a sustainable business model involves providing products and services that offer solutions to global environment, social and corporate governance challenges. The fund’s choice of companies is also limited by negative criteria, meaning that the fund does not invest in companies that violate any of the ten principles of the UN Global Compact. The fund is also permitted to invest in derivatives as an aspect of the investment strategy.

The stock market was this year driven by more expansionary US monetary policy, while there was a decline in macroeconomic leading indicators. We allocated money to companies that are driven by the sustainability trend, which we see as more structural than cyclical in the medium-term.
Anna Strömberg, 2019-12-31

Fund manager comment

The stock market was this year driven by more expansionary US monetary policy, while there was a decline in macroeconomic leading indicators. We allocated money to companies that are driven by the sustainability trend, which we see as more structural than cyclical in the medium-term. We believe this provides an opportunity for companies to generate returns above their sector average and for the portfolio to better cope with the economic downturn. Examples of such holdings are Vestas, Sweco, Tomra, Hexagon, Novo Nordisk and SCA, which we believe will be able to outperform their sectors in general as they benefit from a structural trend in investments in sustainable cities and consumption patterns.
The final month of the year ended with a rise of 3.5%. The upturn was again driven this month mainly by the fact that the small caps index rose just over 5 percent in the period. Catella Sverige Aktiv Hållbarhet has a greater focus on large companies than the rest of the stock exchange and did not achieve the same performance as the broad index, ending the month with a gain of 3%. The best contributions to the relative return came from the overweights in Nibe, Mycronic and Balder, and underweights in Assa Abloy and Ericsson. However, the performance of Elexctrolux was a burden on the portfolio after it announced a postponement of savings from its new factory. Hexagon was also weak after positive news from the capital markets day was overshadowed by the fact that CEO Ola Rollén chose to sell half his holding. 

Fund facts

Risk Indicator

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.

Fact

Catella Sverige Aktiv Hållbarhet offers a concentrated portfolio of carefully selected Swedish shares, which means the potential to obtain better returns than the index. The fund invests with a focus on large and medium-sized businesses.

The fund is permitted to use derivatives and the net asset value of the fund may fluctuate considerably. The fund is intended for investors seeking active management of Swedish equities and with an investment horizon of at least five to seven years.

Historical development

Fund manager

Sweden

Anna Strömberg

Fund manager / Sustainability Manager
Direct: +46 8 614 25 76
Sweden

Henrik Holmer

Fund manager
Direct: +46 8 614 25 28

Risk information

Investments in fund units are associated with risk. Past performance is no guarantee of future returns. The money invested in a fund can increase and decrease in value and it is not certain that you will get back the full amount invested. No consideration is given to inflation. The Catella Balanserad, Catella Credit Opportunity and Catella Hedgefond funds are special funds under the Swedish Alternative Investment Fund Managers Act (SFS 2013:561) (AIFM). Catella Sverige Aktiv Hållbarhet and Catella Småbolagsfond may use derivatives, and the value of the funds may vary significantly over time. The value of Catella Sverige Hållbart Beta may vary significantly over time. Catella Avkastningsfond may use derivatives and may have a larger proportion of the fund invested in bonds and other debt instruments issued by individual national and local authorities and within the EEA than other investment funds, in accordance with Chapter 5, Article 8 of the Swedish Investment Funds Act (SFS 2004:46). Catella Nordic Long Short Equity and Catella Nordic Corporate Bond Flex may use derivatives and may have a greater proportion of the funds invested in bonds and other debt instruments issued by individual national and local authorities and within the EEA than other investment funds. For more details, complete prospectuses, key investor information, and annual and half-yearly reports, please refer to our website at catella.se/fonder or phone +46 8 614 25 00.

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