Modelportfolio September 2016

The Norwegian Modelportfolio retracted 0.30 per cent in September. The best performer was SEB Norway Focus Fund rising 1.70 per cent in September. Next on the list were Nordkinn Fixed Income Macro Fund and Carnegie Corporate Bond Fund climbing 0.70 per cent and 0.50 per cent respectively. The worst performers were JO Hambro European Select Values Fund and Hermes Global Emerging Markets Fund decreasing 4.50 per cent and 2.10 per cent. However, most of the sharp drop is explained by the fact that the Norwegian krone appreciated significantly against most major currencies during the month.  Thus, our strategy to select products with NOK-hedged share classes have paid off.

Year to date the Modelportfolio is up by 2.40 per cent.

We decided to take off some risk by the end of September by reducing our exposure to Solsten Nordic Equities with 5 per cent. For the time being we invest the proceeds in SEB NOK Liqudity. This is a conservative money market fund investing mainly in municipalities and Norwegian savings and loans banks.

 

  Modelportfolio:

Investments Portfolio
Equities  
JO Hambro European Select Values 10%
Solsten Nordic Equities 10%
SEB Norway Focus Fund 15%
Hermes Global Emerging Markets  5%
Sum Equities 40%
   
Fixed Income  
Carnegie Corporate Bond Fund 10%
SEB High Yield NOK 10%
SEB NOK Liquidity 10%
Sum Fixed Income 30%
   
Alternative  
SEB Asset Selection 10%
Legg Mason Martin Currie European Absolute Alpha 10%
Nordkinn Fixed Income 10%
Sum Alternative 30%

 

Return 2008 2009 2010 2011 2012 2013 2014 2015 30.09.2016
SEB NAP -6,73% 26,55% 6,45% 0,17% 12,00% 13,01% 9,65%   6,55%  2,39%
MSCI World* -25,56% 12,67% 14,12% -4,55% 8,67% 34,67% 29,39% 16,09%  -3,24%


*MSCI World in NOK