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Meriti Ekorren Global share class A showed a very good development in November as well and rose by +5.92 percent. The fund's increase in value since the turn of the year thus amounts to +30.9 percent. Since the fund's start on December 4, 2023, the increase in value amounts to +32.8 percent, one
results that are more than +2 percentage points stronger than the fund's benchmark index.
The American stock market, measured as the S&P 500 Index, recorded the year's biggest monthly price increase of +6 percent so far in November. The explanation is to be found in finding out the fall in the presidential election combined with robust economic data and strong company reports.
According to data from LSEG Datastream, the US has posted 9 percent profit growth over the past 12 months, compared to just +1 percent for the rest of the world. US stocks have risen sharply thanks to the AI theme and resilient economic growth. Profits for the "magnificent seven", mainly technology companies, have increased by +45 percent over the past year.
Strong development can also be found in Japan. Japanese companies posted 14 percent local currency profit growth over the past 12 months, thanks to shareholder-friendly measures and a return to subdued inflation.
The European stock markets were still hampered by declining activity in the euro area, rising bond yields, geopolitical tensions and concern over economic developments in China. Profits for around half of European sectors are still in decline, according to data from LSEG Datastream.
As far as the fund is concerned, the month's largest increase at sector level has occurred in the industries Technology Hardware & Equipment, Household & Personal Products and Utilities. Correspondingly, the largest reduction has occurred in the industries Food Beverage & Tobacco, Health Care Equipment & Services and Materials.