{"id":2070,"date":"2022-03-08T15:35:49","date_gmt":"2022-03-08T13:35:49","guid":{"rendered":"https:\/\/kreditfonden.se\/?p=2070"},"modified":"2022-03-08T15:35:49","modified_gmt":"2022-03-08T13:35:49","slug":"manadsrapport-februari-2022-scf-i","status":"publish","type":"post","link":"https:\/\/finserve.se\/en\/manadsrapport-februari-2022-scf-i\/","title":{"rendered":"Monthly report February 2022 \u2013 SCF I"},"content":{"rendered":"
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Scandinavian Credit Fund I AB (publ) reports a NAV rate for February of 101.00. That is an increase of 0.48 (0.477%), it is a good month considering that we only have 28 days in February. Inflow for the month of February is 12 million SEK, thank you very much for that.<\/p>\n

New lending in February is approximately SEK 48 million.<\/p>\n<\/div>\n

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The market<\/strong><\/p>\n<\/div>\n

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The Ukraine conflict rules everything and your guess is as good as mine where this will end. What is certain, however, is that the central banks will wait with increases at this stage. The rising energy and food prices will have a dampening effect on growth and this suggests that they are waiting in Europe, the Fed will raise in March by 25 interest points.<\/p>\n

Stock markets are falling heavily today as I write this and credit spreads are falling apart.<\/p>\n

The fund's holdings have no direct exposure to Eastern Europe, in the same way as with covid, we will follow all borrowers extra closely.<\/p>\n<\/div>\n

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IFRS 9<\/strong><\/p>\n<\/div>\n

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\u200bWe are including the provisions for IFRS 9 this month so you can see what the risk on the holdings looks like. We will show this summary every month from February. LTV shows how large the loan is in relation to the value of the collateral. That is, in category 2 it gives excess values \u200b\u200bon the current valuation of 25%. During February we have received new external valuations on a holding that means an upward adjustment of its value, however, we have made a large general provision for the uncertain macro situation we are in and moved two loans from category 1 to category 2. The net of these will have virtually no impact on the NAV rate.<\/p>\n

\"IFRS9<\/p>\n

ESG<\/strong><\/p>\n

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Finserve Nordic, which is the fund's AIF manager, has in 2020 joined the company to the PRI network, Principles for Responsible investment. The network is independent but supported by the UN and encourages investors to invest responsibly by following the principles developed by the network.<\/p>\n<\/div>\n

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Finserve Nordic believes that the integration of sustainability risks is an important part of the funds' investment processes. Sustainability risks are defined as environmental, social, or corporate governance-related circumstances that could have a significant negative impact on the value of investments.<\/p>\n<\/div>\n

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Social aspects include e.g. human rights, labor rights and equal treatment. Environmental aspects are e.g. the companies' impact on the environment and climate. Corporate governance aspects are e.g. anti-corruption, shareholders' rights and business ethics<\/p>\n<\/div>\n

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All funds under Finserve's management follow the responsible investment process formalized in Finserve's Sustainability Risk Integration Policy. The policy is available on the company's website https:\/\/finserve.se\/viktig-information\/. Each fund's sustainability policy is available on the funds' websites.<\/p>\n<\/div>\n

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We can announce that based on today's sustainability requirements for funds, Scandinavian Credit Fund I is to be considered a "light green" fund, which is very good. In Sweden, about 30% of all funds have a rating corresponding to light green or better.<\/p>\n<\/div>\n

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When you do your analysis of the fund, you should primarily look at the credit risk and the liquidity risk in the fund. Are you comfortable with the credit risk that the fund's holdings generate? Furthermore, the assets are illiquid and it can take some time to get back your investment if many people want to withdraw deposited funds at the same time. The fund has a low market risk and has a low correlation with other asset classes.<\/p>\n<\/div>\n

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We emphasize that we are not stressed by non-loaned funds, but continue to work based on our models for credit assessment, all to ensure a good diversification of the portfolio in relation to the credit risk we take.<\/p>\n<\/div>\n

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If you need to sell your holdings, do it in the primary market, where you will get the best price.<\/p>\n<\/div>\n

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The official NAV rate is published on the first banking day of each month, what is shown during the month on NGM is not, I want to emphasize, not always the official NAV rate, as fund shares may have been traded in the secondary market at a different rate than the official NAV.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Download PDF version with statistics<\/span><\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"

Scandinavian Credit Fund I AB (publ) redovisar en NAV kurs f\u00f6r februari p\u00e5 101,00. Det \u00e4r en uppg\u00e5ng med 0,48 (0,477%), det \u00e4r en bra m\u00e5nad med tanke p\u00e5 att vi bara har 28 dagar i februari.Infl\u00f6de f\u00f6r februari m\u00e5nad \u00e4r 12 miljoner kronor stort tack f\u00f6r det. Nyutl\u00e5ningen i februari \u00e4r ca. 48 miljoner […]<\/p>\n","protected":false},"author":8,"featured_media":664,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"view_count":"416","footnotes":""},"categories":[28],"tags":[],"class_list":["post-2070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manadskommentar-scfi"],"_links":{"self":[{"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/posts\/2070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/comments?post=2070"}],"version-history":[{"count":0,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/posts\/2070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/media\/664"}],"wp:attachment":[{"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/media?parent=2070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/categories?post=2070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/tags?post=2070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}