The Lannebo Sverige Plus fund declined by 5.2 percent in March, outperforming its benchmark index, which fell by 7.6 percent. Since the beginning of the year, the fund has returned 0.5 percent, ahead of the index's 1.2 percent decline. This was reported in a monthly update from the management duo of Robin Nestor and Martin Wallin.

The managers initially noted that performance in March was negative, although the general market correction has remained limited thus far.

"Inflation expectations are rising, and central banks are signaling potential future hikes. Any interest rate increases will, as usual, be weighed between what are considered temporary price increases and the risks of a deteriorating economic outlook," the managers wrote.

During the month, the US 10-year Treasury yield rose nearly 10 percent to around 4.3 percent. The month's movement is assessed to have driven up real rates, and it remains to be seen whether prices across value chains will increase during the spring, according to the managers.

The Swedish krona weakened against both the US dollar and the euro in March.

While the period was largely characterized by losses, a few stocks saw their prices rise - including Ericsson and Nokia, which participated in the Mobile World Congress at the beginning of the month. The companies detailed collaborations with hardware suppliers in AI technology and 6G.

"Ericsson demonstrated that the company has moved into commercial preparation for sixth-generation networks, where artificial intelligence is integrated into all layers. National security was once again highlighted by Börje Ekholm, emphasizing that regulatory authorities and telecom operators need to prioritize European equipment suppliers when dealing with critical infrastructure."

Furthermore, Nokia and Ericsson entered into a joint agreement where parts of the software are opened up to simplify operations for operators sharing equipment from both providers.

Regarding portfolio activity in March, purchases were made in Volvo, Swedbank, and Handelsbanken, while divestments were carried out in Nokia, Ericsson, and Essity.

The largest equity holdings in the fund's portfolio at month-end were Ericsson, SKF, and Autoliv, with portfolio weights of 8.2, 7.0, and 6.5 percent, respectively.

Industrials, basic materials, and healthcare were the largest sectors, with weights of 25.6, 19.1, and 17.1 percent, respectively.

Lannebo Sverige Plus, %March, 2026
Fund MoM, percentage change-5.2
Index MoM, percentage change-7.6
Fund YTD, percentage change0.5
Index YTD, percentage change-1.2