About the fund
Carnegie Obligationsfond is also available in the following share class: B.
The fund invests mainly in interest-bearing securities issued by governments, municipalities or credit institutions with good liquidity and high creditworthiness. The fund’s investments must have a Swedish connection through the financial instrument being denominated in Swedish kronor.
The interest-bearing securities the fund invests in must have at least a credit rating of BBB- or equivalent for longer investments and at least A-1 or K-1 or equivalent for shorter investments.
Fees and trading
- Management fee/year
- Minimum deposit lump-sum/monthly
- Price listing
- PPM fund number
- Bankgiro number
- Legal Seat
- Start date
- ISIN Code
- Morningstar rating
- Risk class
- Total risk
- Sharpe ratio
- 0.23 times/year
- Benchmark index
- Nasdaq OMRX Treasury Bond
- Tracking error
- Swing pricing
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.
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.
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 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.
The benchmark index has been used as a basis for calculating Tracking Error and Active Share. The chosen benchmark is deemed to be relevant as it corresponds well with the fund’s investment policy.
Tracking error measures the difference in returns between a fund and its benchmark. The lower the tracking error, the more correlated the returns are to the benchmark. The higher the tracking error, the more the returns deviates from the benchmark. Reported as a percentage.
Swing pricing means that the fund’s NAV rate may be adjusted when the fund’s net flows (the sum of deposits and withdrawals in the fund) during a given day exceed a threshold value. The threshold value is an amount and is calculated by a percentage of the fund’s total value. This is called partial swing and is the method of swing pricing used by Carnegie Fonder. If the threshold value is exceeded, a swing factor is applied which is a certain percentage and which is judged to correspond to the costs of managing the net flows. The reason why swing pricing is used is that large transaction costs can arise with large net flows. In order for these costs not to affect other unit holders in the fund, they are instead charged to the unit holders who caused the flow by adjusting the NAV rate with the swing factor. The levels of the threshold and the swing factor are reviewed by Carnegie Fonder on a regular basis.
- Sweden 3.5% T-Bonds Ser 1053 09/30.03.39
- Sweden 0.125% EMTN Sen Reg S 20/09.09.30
- Sweden 0.75% Ser 1061 144A Reg S 18/12.11.29
- Sweden 0.75% T-Bonds Ser 1060 144A Reg S 17/12.05.28
- Sweden 2.25% Ser 1056 11/01.06.32
- Sweden 0.125% T-Bonds Ser 1062 Sen 144A Reg S 20/12.05.31
- Skandinavi Enskil Bank AB Stoc 1% MTN Ser 580 19/17.12.25
- Nordea Hypotek AB 1% Ser 5534 Sen 18/18.09.24
- Stadshypotek AB 1% MTN Ser 1590 Sen 20/03.09.25
- Sweden 1% Ser 1059 15/12.11.26
- Other holding
- Fixed Income Securities
- Cash and equivalents