Swedish newspaper’s own fund beats local peers

Affärsvärldenfonden, the actively managed Swedish equity fund launched 31 December 2015 by business publication Affärsvärlden in partnership with fund manager Lundmark & Co has beaten all sector peers in the period to 29 April.

Morningstar Sweden data suggests the fund returned 3.7% year-to-date, versus -2% for the Morningstar Sverige sector, and -3.5% for the benchmark index, the MSCI Sweden NR SEK.

The outperformance comes despite a poor return in April, when holdings such as Byggmax, Betsson and Recipharm caused the fund to underperform the broader stock market, according to a monthly note from portfolio manager is Håkan Lundmark.

The newspaper’s stock market desk sits on the fund’s investment committee together with Lundmark, to discuss equities that are deemed worth buying according to Affärsvärldens’ own analysis model.

The fund’s KIID document suggests that it is a fairly concentrated portfolio of stocks. A minimum of 75% of assets are required to be invested in Swedish equity, with up to 25% avaialable for investments in other Nordic markets. The number of holdings is intended to be 25-30. Cash holdings or other interest paying assets can account for up to 20% of the fund. It is a fund with a 3-5 year investment horizon.

The fund is available for direct investments via Lundmark & Co, as well as via fund supermarkets Avanza, Nordnet and Fondmarknaden.se. It is also available on the PPM platform, operated by the Swedish Pensions Agency to allow long term savers self-select funds.

Top ten holdings according to the latest month-end report include:

H&M B 9.3%
Volvo B 8.6%
Hexpol B 6.9%
Byggmax 6.6%
Betsson B 6.5%
Skanska B 4.7%
Atlas Copco B 4.3%
Husqvarna B 3.7%
Novo Nordisk B 3.6%
Danske Bank 3.3%


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).

Read more from Jonathan Boyd

Close Window
View the Magazine

I also agree to receive editorial emails from InvestmentEurope
I also agree to receive event communications for InvestmentEurope
I also agree to receive other communications emails from InvestmentEurope
I agree to the terms of service *

You need to fill all required fields!