About the fund
Carnegie Investment Grade invests in bonds issued by Nordic companies. The fund focuses on corporate bonds with high credit ratings, known as investment grade.
Investments are never made in a particular sector, or any specific country or currency. The analysis is based on, and always chooses, companies that the portfolio managers want to invest in. Companies that they believe in for the long term.
The average maturity of the portfolio is around 3 years, but may at times be longer or shorter. The fund is traded daily, without any lock-in for the unitholders. All holdings in foreign currencies are hedged against Swedish kronor, in order for the unitholders to avoid currency risk.
Fund manager
Mikael Engvall
BSc Business Administration. Employed since 2012 and has worked in the industry since 1996.
Mona Stenmark
MSc Economics. Employed since 2003 and has worked in the industry since 2003.
PDF for download
Fees and trading
- Management fee/year
- 0.50%
- Minimum deposit lump-sum/monthly
- 0kr/0kr
- Price listing
- Daily
- Bankgiro number
- 606-9876
Basic facts
- Legal Seat
- SE
- Start date
- 1985-11-01
- ISIN Code
- SE0000429847
Fund data
- Risk class
-
1234567
- Total risk
- 3.56%
- Sharpe ratio
- 0.25
- Churn
- 0.42 times/year
- Benchmark index
- -
Risk category
The seven-point risk scale is common to funds in the EU. Risk category 1 represents the lowest risk but also the lowest possibility of returns. Seven is the highest risk with higher possibility of returns. The risk category is based on how the fund's value has fluctuated over the past five years.
Total risk
A measure of risk that measures value changes. Stated as a percentage. The higher the percentage, the higher the volatility. Calculated as the standard deviation of monthly returns for the fund during 24 months, multiplied by the square root of the number of months during the year.
Sharpe ratio
The Sharpe ratio is a measure of risk that compares the actual return on the portfolio, minus the risk-free interest rate, to the total portfolio risk. Portfolio risk is defined as the standard deviation of returns over 24 months. This can be said to illustrate the payment you receive for the risk you take.
Churn
Churn measures how many transactions are made by the fund manager. It is defined as the lowest of the sum of purchased and sold securities, divided by the average net asset value of the fund. Churn is expressed as an annual rate.
Benchmark index
No benchmark index is used since there is no available index that corresponds well with the fund’s investment policy.
Largest holding
- Tomra Systems ASA FRN Sen Ser TOM02 19/14.11.24
- 2.59%
- Nobina AB FRN Sen Reg S 19/13.02.24
- 2.40%
- BKK AS FRN Ser BKK43 Sen 17/25.09.23
- 1.85%
- Nordic Entertainment Gr AB FRN DMTN Sen 19/23.05.24
- 1.65%
- Jyske Bank AS FRN EMTN Sen 18/07.09.23
- 1.65%
- Telenor ASA FRN EMTN Sen Reg S 19/19.03.24
- 1.56%
- SKF AB FRN Sen 20/10.06.24
- 1.47%
- Kraftringen Energi AB FRN Ser 11 Sen 18/06.12.23
- 1.47%
- Kinnevik AB FRN MTN Ser 106 Sen 20/19.02.25
- 1.46%
- Volvo Treasury AB FRN EMTN 21/26.02.24
- 1.36%
- Other holding
- 82.54%
Geographic distribution
- Sweden
- 67.44%
- Norway
- 16.06%
- Denmark
- 8.07%
- Finland
- 7.47%
- Other
- 0.95%
Nav distribution
- Fixed Income Securities
- 98.43%
- Cash and equivalents
- 2.06%
- Currency hedge
- -0.48%