Avanza spots the dogs of November in Swedish funds market
November was not a catastrophe as first feared by invstors, yet there were still a number of funds that failed to take advantage of the market rally of some 11% in the last week of the month alone, writes Avanza Bank
The trigger for the rally was the announcement by a cabal of central banks, which went in to support dollar liquidity. The result was a significant jump by global stockmarkets.
However, there were a number of funds that failed to match this rally, according to Avanza.
Consortum Sverige 150/50 was the worst of these, the bank suggests. It lost -0.2% over the period when the market gained 11%.
Strand Småbolag gained just 1% in that period.
Remium Småbolag Sverige ended the month overall down -10%. Over the rally period it added only 1.5%.
Danske Invest Sweden lost 14.5% over early period of the month.. It rallied just 3.5%, leaving a net loss of -11.6%.
Tangent, which Avanza classifies as perhaps the highest beta Swedish equity fund, rose just 4.5% when the market turned. Its overall monthly loss was -5.5%.
SEB Swedish Ethical Beta Fund added about 5% during the last week of November.