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Meriti Ekorren Global share class B rose by +3.43 percent during September and has thus risen by +4.71 percent during the year, a development that is +4.0 percentage points better than its benchmark index. Since the fund's launch on December 4, 2023, the increase in value amounts to +39.7 percent, a result that is +9.1 percentage points stronger than the fund's benchmark index.
Financial assets performed strongly in September. US stocks, as measured by the S&P 500, rose by 3.7 percent. European stocks, as measured by the S&P Europe 350, rose by +1.7 percent and Japanese stocks, as measured by the S&P Japan 500, rose by 3.0 percent. Stock markets were supported by a relatively strong reporting season and, not least, a resilient macroeconomic situation. In the US, GDP for the second quarter was revised up to 3.8 percent. The strong trend looks set to continue in the third quarter, which the Atlanta Fed's GDP Nowcast estimates at 3.9 percent. As expected, the Federal Reserve chose to lower its policy rate by 25 basis points at its September meeting.
Market volatility has declined significantly. The driving forces have been a stable macroeconomic backdrop and subdued inflationary pressures, as well as the fact that most central banks are cutting policy rates. However, there are concerns, such as uncertainty around trade policy and geopolitical risks.
For the fund, the month's largest sector-level increase was in the Semiconductors & Semiconductor Equipment, Utilities and Food Beverage & Tobacco sectors. Correspondingly, the largest decrease was in Health Care Equipment & Services, Capital Goods and Media.