November return comment
The agenda for the month of November was set by outstanding news from three of the candidates for a vaccine. With a view to a start of vaccination programs in a not too distant future financial markets reacted with another leg up in risk appetite, a trend that was also given support by a clear outcome in the US presidential election. Fixed income markets followed suit with rates in the long end underperforming versus rates in the belly. The latter part of the yield curve is more under the control of the central banks and their ambition to keep rates at 0 for the next couple of years.
The strong result development continued in November. The return ended up at +2,42 percent. When looking at year to date numbers the fund is up by +10,64 percent and the 12-month rolling return came in at +11,36 percent.
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