The managers initially note that receding geopolitical tensions contributed to tighter credit spreads during the month.
The European Itraxx Xover index fell from over 350 to just over 290 basis points, resulting in higher bond prices which benefited the fund.
'During April, we saw credit spreads decline significantly as concerns in both equity and fixed-income markets regarding Iran and the Strait of Hormuz subsided somewhat,' the managers write.
Quarterly reports were released by several issuers during the month.
Results from NP3, Boliden, and Bilia performed well, while companies such as Storskogen and Corem fared less favorably.
The primary contributors to the fund's return during the month were Swedavia, Bilia, and SBAB.
On the negative side were Betsson, Peab, and Greenland.
Regarding portfolio activity, reductions or maturities were noted in holdings such as Trianon, NP3, and Castellum.
Looking ahead, the managers observe that a significant portion of the earnings season remains, as several smaller issuers are expected to present their figures during May.
The fund's three largest holdings at month-end were SBAB, Ziklo, and Cibus, with portfolio weights of 3.1, 1.8, and 1.7 percent, respectively.
| Sensor Räntefond, % | April, 2026 |
| Fund MoM, percent change | 0.7 |
| Index MoM, percent change | 0.6 |
