The manager notes that Swedish equities, as measured by the OMXS30G, gained an additional 4 percent in October. This marks the fourth consecutive positive month, and since the market bottomed in April, Swedish shares have surged by 30 percent, according to the manager.
"Swedish equities mirrored the ongoing rally in global stocks during October, following waning concerns over an escalation in the US-China trade war as well as another interest rate cut by the US central bank, the Fed."
The manager concludes by noting that the end of the earnings season is approaching, with US results described as having improved both in absolute terms and relative to expectations.
"As we enter the fourth quarter, there remains significant focus on President Trump's tariff policy and the anticipated consequences for various countries and sectors. The US government shutdown continues, but so far has not had any major impact on the markets."
The fund maintained its largest exposure to the industrial, financial, and information technology sectors, with allocations of 39.9, 24.6, and 8.7 percent, respectively.
The fund's largest holdings at the end of the month were Atlas Copco, Investor, and Volvo, with weights of 8.1, 7.3, and 5.5 percent, respectively. In total, the fund held 135 positions.
| Storebrand Sweden, % | October, 2025 |
| Fund MoM, change in percent | 4.80 |
| Index MoM, change in percent | 4.13 |
| Fund YTD, change in percent | 9.45 |
| Index YTD, change in percent | 10.25 |
