The Storebrand Global Multifactor fund decreased by 1.22 percent in March, underperforming its benchmark index which fell by 1.14 percent. Since the turn of the year, the fund has returned 3.05 percent, outperforming the index which has declined by 0.36 percent. This is according to a monthly report from the fund's manager, Andreas Poole.

The manager initially notes that global equities, measured by the MSCI World in local currency, fell nearly 6 percent during March. The decline is attributed, among other factors, to rising oil prices which dampened risk appetite and sent markets lower.

Furthermore, previous expectations of interest rate cuts were replaced by concerns over rate hikes in many countries and regions. The manager points out that stagflation has historically been bad news for equity markets.

"The market appears to be positioned for President Trump to back away from the conflict in Iran in some form before long, as he will do everything to win the midterm elections. This could potentially stabilize market concerns," the manager concludes.

The fund's largest holdings at month-end were Nvidia, Apple, and Microsoft, with weightings of 4.3, 3.6, and 2.2 percent, respectively.

At the end of the month, the fund had its largest exposure to the USA, Canada, and Japan, with allocations of 63.3, 8.8, and 8.1 percent, respectively.

The largest sectors were Information Technology, Financials, and Industrials, with weightings of 28.1, 17.8, and 11.9 percent, respectively.

Storebrand Global Multifactor, %March, 2026
Fund MTD, percentage change-1.22
Index MTD, percentage change-1.14
Fund YTD, percentage change3.05
Index YTD, percentage change-0.36