Initially, the managers note that April was characterized by an initial truce between the US and Iran, which led global equity markets to start the month on a positive note. A continued closure of the Strait of Hormuz subsequently pushed up oil prices, causing stock markets to pull back slightly, although they closed at higher levels than at the start of the month.
Furthermore, a positive start to the US earnings season is highlighted. In the Swedish market, the outcome was more mixed, with SSAB and Boliden exceeding expectations.
The fund benefited from an overweight position in ABB. The spin-off Accelleron Industries also performed well following a positive update regarding its aftermarket business.
In addition, gains in Gränges and SSAB contributed to the materials sector becoming the fund's best-performing sector. Other positive contributors included Epiroc, Volvo, and Investor.
On the negative side, AstraZeneca, H&M, and Axfood weighed most heavily on performance.
During the month, the fund increased its holdings in Atlas Copco, ABB, EQT, Epiroc, and Sobi.
At the same time, exposure to Swedbank, Axfood, AstraZeneca, Avanza, and Tele2 was reduced.
At month-end, the fund's three largest equity holdings were Investor, Atlas Copco, and Volvo, with portfolio weights of 9.5, 6.0, and 5.5 percent, respectively.
The geographical distribution consisted of 92.2 percent Sweden, followed by Switzerland and Finland at 5.1 and 2.1 percent, respectively.
| Simplicity Sverige, % | April, 2026 |
| Fund MoM, percentage change | 4.9 |
| Fund YTD, percentage change | 6.8 |
