{"id":4941,"date":"2020-10-09T10:22:11","date_gmt":"2020-10-09T08:22:11","guid":{"rendered":"https:\/\/finserve.se\/september-positiv-manad-portfoljen-justerad-for-en-mer-volatil-marknad-framat\/"},"modified":"2020-10-09T10:22:11","modified_gmt":"2020-10-09T08:22:11","slug":"september-positiv-manad-portfoljen-justerad-for-en-mer-volatil-marknad-framat","status":"publish","type":"post","link":"https:\/\/finserve.se\/en\/september-positiv-manad-portfoljen-justerad-for-en-mer-volatil-marknad-framat\/","title":{"rendered":"September: Positive month, the portfolio adjusted for a more volatile market ahead"},"content":{"rendered":"
\"Inge<\/div>\n

Volatility in the market continued during September and technology companies were weak with a decline for the Nasdaq of 5.2 percent, the Dow Jones ending only down 2.3 percent. This was the first negative month since March. The big companies within FAANG were the big losers. The valuation multiples for these companies have expanded strongly during the year. However, they differ slightly between the companies as Amazon and Netflix have had their profits adjusted upwards during the year, while the others have had them adjusted downwards in the wake of Covid.\u00a0<\/p>\n

We further reduced the risk in the fund at the end of August and lost some yield as the market's high-risk companies continued to rush. We got most of that back in September when the fund ended up 0.76 percent. During the downturn in the market, we have increased further in companies that we believe had a really strong quarter such as Activision, Salesforce, Zynga and TSMC. We have tried to adjust the portfolio's beta slightly towards a more volatile development in the coming month. We continue to collect data regarding September for the companies to position ourselves correctly for the quarterly reports.<\/p>\n

See updated monthly data for the fund here:<\/p>\n

Tech letter Update September 2020<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Volatiliteten i marknaden fortsatte under september och teknikbolagen var svaga med en nedg\u00e5ng f\u00f6r Nasdaq p\u00e5 5,2 procent, Dow Jones slutade endast ner 2,3 procent. Detta var den f\u00f6rsta negativa m\u00e5naden sedan i mars. De stora bolagen inom FAANG var de stora f\u00f6rlorarna. V\u00e4rderingsmultiplarna f\u00f6r dessa bolag har expanderat starkt under \u00e5ret. De skiljer sig […]<\/p>\n","protected":false},"author":4,"featured_media":6772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"view_count":"549","footnotes":""},"categories":[29],"tags":[],"class_list":["post-4941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-thyra-fund"],"_links":{"self":[{"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/posts\/4941","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/comments?post=4941"}],"version-history":[{"count":0,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/posts\/4941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/media\/6772"}],"wp:attachment":[{"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/media?parent=4941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/categories?post=4941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finserve.se\/en\/wp-json\/wp\/v2\/tags?post=4941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}