Modelportfolio December 2014

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