The manager initially notes that the month was characterized by a ceasefire between the US and Iran, which bolstered global equity markets. Concurrently, the Strait of Hormuz remained closed, driving oil prices above 120 dollars per barrel.
Interest in AI also trended upward, fueled by renewed confidence in the sector's demand for computing power.
'The combined capex of the four major tech companies for 2026 amounts to 645 billion dollars – a 56 percent increase over the previous year – and Meta further raised its investment plan during the month,' the manager writes.
At the corporate level, the fund benefited from ABB, which delivered a strong quarterly report featuring record order intake in electrification and automation.
Alk-Abello also performed positively, driven by progress in immunotherapy and a new distribution agreement in the US.
During the month, a significant divestment was made in Sampo. Instead, the fund initiated positions in Genmab, Stora Enso, and Lagercrantz.
The primary positive contributors to the fund's performance during the month were Nokia, Nordea, ABB, SEB, and Investor.
Among the holdings that weighed on performance were Astra Zeneca, H&M, Axfood, Stora Enso, and Telenor.
Regarding geographical allocation, Sweden represented the largest exposure at 50.8 percent. This was followed by Norway and Denmark with weightings of 17.2 and 16.0 percent respectively, while Finland and Switzerland accounted for 12.6 and 2.8 percent.
At month-end, the fund's three largest equity holdings were Investor, Swedbank, and Nordea, with portfolio weights of 5.7, 5.6, and 5.5 percent respectively.
| Simplicity Norden, % | April, 2026 |
| Fund MTD, percentage change | 3.5 |
| Fund YTD, percentage change | 4.3 |
