The managers note that the fund continues to outperform both the index and the category average over the past 12 months, as well as on a three-year basis, despite this month's lower relative return.
Furthermore, the management duo states that the market was characterized by positive sentiment for large-cap companies on the OMX30, while the small-cap segment continued to show weaker performance. The fund's index has now risen for nine consecutive months, increasing the risk of a possible correction.
However, the fund underperformed its index during January, mainly due to underweights in Saab and Sandvik.
The largest overweight positions in the portfolio are in consumer staples, the banking sector, and pharmaceuticals. At the same time, the fund has gradually increased its exposure to the consumer sector. Companies with consumer exposure have for a longer period performed worse than the industrial sector, creating interesting valuation differences between these cyclical sectors.
The fund's largest holdings were Investor (8.01 percent), followed by Atlas Copco (5.20 percent) and Volvo (5.03 percent).
In terms of sector allocation, industry was the largest at 30.48 percent, followed by finance and information technology, with portfolio weights of 25.01 and 10.86 percent, respectively.
| Länsförsäkringar Sverige Vision A, % | January, 2026 |
| Fund MoM, change in percent | 1.87 |
| Index MoM, change in percent | 3.28 |
