Meriti Ekorren Global share class B fell by -0.21 percent during August and during the year the fund has thus risen by +1.24 percent, a development that is +3.6 percentage points better than the fund's benchmark index (-2.41 percent). Since the fund's launch on December 4, 2023, the increase in value amounts to +35.1 percent, a result that is +8.6 percentage points stronger than the fund's benchmark index.<\/p>\n\n\n\n
During August, US stocks, as measured by the S&P 500 Index, rose by 2.0 percent and European stocks, as measured by the S&P Europe 350 Index, rose by +1.1 percent. Japanese stocks were the month's winner with an increase of +4.5 percent. However, the USD weakened by -3.4 percent against SEK, which meant that global stocks in SEK fell in value during the month.<\/p>\n\n\n\n
Federal Reserve Chairman Jerome Powell, who has come under pressure from President Trump to cut interest rates, signaled in his speech at Jackson Hole that a September rate cut is possible, but also highlighted the risks of persistent inflation. Market participants currently see an 85 percent chance of a rate cut this month, but questions about the central bank's independence have increased uncertainty about the path of interest rates and the bank's ability to credibly combat inflation.<\/p>\n\n\n\n
In Europe, the French Prime Minister risks losing a confidence vote on September 8th regarding the government's budget cuts, which increases the risks for European stocks and for long-term French government bonds (OATs), whose yields are now near their highest levels since 2011. A fall for the minority government could lead to President Macron either appointing a new prime minister or calling new elections.<\/p>\n\n\n\n
For the fund, the month's largest sector-level increase was in the Pharmaceuticals, Biotechnology and Life Sciences, Technology Hardware & Equipment and Insurance sectors. Correspondingly, the largest decrease was in Transportation, Capital Goods and Food Beverage & Tobacco.<\/p>\n\n\n\n