The Model Portfolio finished 2014 by gaining 2.64% in December. It was once again our equity exposure that contributed to the performance. iShares S&P 500 rose 7.76% in NOK terms. The rest of our equity exposure increased between 3.83% and 5.54% in December. It is worth noticing that international exposure fared particularly well due to weak development in NOK.
The Model Portfolio had no or negative contribution from our fixed income exposure.
Modelportfolio:
| Investments |
Portfolio |
| Equities |
|
| J O Hambro ' European Select Values Fund |
10,0% |
| Fidelity Asian Special Situations |
10,0% |
| SEB Nordic Focus |
10,0% |
| TreeTop Global Opportunities |
10,0% |
| Ishares Core S&P 500 UCITS |
15,0% |
| Sum Equities |
55,0% |
| |
|
| Fixed Income |
|
| Norwegian High Yield Bonds* |
20,0% |
| BlueBay Emerging Market Bond Fund |
10,0% |
| BlueBay High Yield Fund |
5,0% |
| Carnegie Corporate Bond Fund |
10,0% |
| Sum Fixed Income |
45,0% |
*Norwegian High Yield Bonds: Siem Offshore 2018, Color Group 2015 and Aker 2015
| Return |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
| SEB NAP |
-6,73% |
26,55% |
6,45% |
0,17% |
12,00% |
13,01% |
9,65% |
| Benchmark** |
-12,77% |
11,92% |
6,01% |
-1,06% |
8,23% |
15,27% |
15,49% |
| Outperformance |
6,04% |
14,63% |
0,44% |
1,23% |
3,77% |
-2,26% |
-5,84% |
| MSCI World*** |
-30,06% |
26,51% |
10,57% |
-4,96% |
16,42% |
29,57% |
27,14% |
**Benchmark: 50/50 MSCI World og STX1
*** MSCI World in NOK