Nordic portfolio key holding expected to rise 20% at JP Morgan

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Novo Nordisk, they maker of insulin treatments for diabetics, is set to see its share price rise by some 20%, according to an analyst note from JP Morgan reported in Denmark, where the company is headquartered.

The impact will be important for a large number of funds: according to data from FE there are some 352 funds with a weighting towards Scandinavia that have an exposure to Novo Nordisk.

Those with the biggest exposure include:

  • SSga Denmark Index Equity, with a 20.31% exposure
  • Global X FTSE Nordic Region, with a 14.21% exposure
  • Amundi ETF MSCI Nordic, with an 11.40% exposure

Unsurprisingly, the stock also features heavily in many funds targeting local Nordic equity investors, including the Danske Denmark Focus, SEB Nordenfond, Swedbank Robur Nordenfond – but it also features in sector funds, such as the CS Aberdeen (Swiss) Global Pharma Equity, the Lyxor Stoxx 600 Health Care, and the Pictet Biotech funds.

As a stock, Novo Nordisk is benefitting from the massive growth in diabetes in countries such as China, where one estimate suggests 10% of the population may be suffering from the disease, particularly the Type 2 variety, which is brought on by changes in lifestyle and diet as the country develops.

 

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Jonathan Boyd
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