Stockholm Stock Exchange has seen a remarkable recovery following the sharp decline on Donald Trump’s “Liberation Day” on April 2nd, with its value remaining largely unchanged for the year. However, despite the OMXSPI being down by 0.25%, there are funds that have outperformed the index significantly.
A compilation from the fund rating institute Morningstar reveals that several Sweden funds have yielded over 10% during the year. Leading the pack is the Carnegie Small Cap Fund, boasting an impressive 11.8% return so far this year. The fund has heavily invested in IT company Mildef, which has exposure to the defense industry. Despite a recent downturn, the stock has surged by 76% for the year. Additionally, the core holding Truecaller has seen a 34% increase in its stock value.
Coming in third on the list of top-performing Sweden funds for the year is the Alcur Grow fund, which focuses on what they call “the future large companies of the Nordics.” With over 90% exposure to Sweden, the fund has yielded a 10.3% return this year.
The Alcur Grow fund has made several successful investments in its portfolio, with its stake in the Tobii spin-off Dynavox standing out. The fund made its initial purchases in the company, which specializes in communication aids, last fall and has since increased its position. Dynavox saw a more than 30% increase in its stock price intraday after a strong Q1 report, resulting in a 71% increase for the year.
Notably, the top-performing funds list includes several small-cap funds, indicating a revival in a segment that had been dormant for a few years. This resurgence in small-cap investments suggests a renewed interest in potentially high-growth opportunities within the Swedish market.