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.


Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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