Monthly report April 2021 - HYOF

Månadsrapport april 2021 - HYOF 1

The month of April, with an increase of 0.73 points, was the fund's best so far and takes us to a NAV of 100.82. Even though we have referred to the strength of the underlying portfolio's yield in previous monthly letters, it is positive to be able to show the effects of it in a month like this, ie without too much impact on buying / selling. We […]

Monthly report June 2021 - HYOF

Månadsrapport juni 2021 - HYOF 2

NAV at the end of June was 102.26, an increase of 0.71 points. We are just behind the forecast for the half year due to a weak first month. We hope to be able to catch up in the next few months, right now it looks like this. We want to start by drawing your attention to a debate article Fi wrote […]

Monthly report August 2021 - HYOF

Månadsrapport augusti 2021 - HYOF 3

The Nordic HY market developed well during August with demand-driven spread in the SEK and NOK markets. The EUR and USD markets have been more neutral but USD HY has performed better in the last week in line with better stock market developments. The SEK and NOK markets suffer from a shortage of materials in the primary market as only a few issues have been made […]

Monthly report September 2021 - HYOF

Månadsrapport september 2021 - HYOF 4

The High Yield Opportunity Fund continued to deliver good returns in September with a monthly result of plus 0.95 %, and a total of 5.04 % during the first 9 months of the year. I consider it entirely possible to achieve a target return of 7% for the full year 2021. There is still a shortage of materials in the primary market and great demand in the secondary market. The market […]

Monthly report November 2021 - HYOF

Månadsrapport november 2021 - HYOF 5

HYOP did not deliver the return target for November due to market turmoil. Monthly result for November of minus -0.18 %, and in total during the first 11 months of the year plus 5.26 % means that we do not reach the target return of 7% for the full year 2021 but rather 5.5 %. The new omikron virus has caused […]

Monthly report October 2021 - HYOF

Månadsrapport oktober 2021 - HYOF 6

HYOP continued to deliver good returns during September with a monthly result of plus 0.40 %, and a total of 5.46 % during the first 10 months of the year. I consider it quite possible to achieve a target return of 7% for the full year 2021. October has been the most turbulent month in a long time in the global fixed income markets and there are also divided opinions […]

Monthly report July 2021 - HYOF

Månadsrapport juli 2021 - HYOF 7

The month of July, with an increase of 0.68 percent, took us to a NAV of 102.96. The rise is driven by interest rates in the underlying portfolio. We did not make any new investments during the month of July, but maintained the exposure we had at the beginning of the month. As is well known, our long-term strategy is to hold bonds to maturity, and we […]

Monthly report May 2021 - HYOF

Månadsrapport maj 2021 - HYOF 8

The month of May, with an increase of 0.71 points, took us to a NAV of 101.54. The effect on the underlying portfolio's yield is now clear and we are following up April with another strong result. We maintain our forecast of an annual result of just over 7 %. We have not been particularly transaction-intensive during May either, […]

Monthly report March 2021 - HYOF

Månadsrapport mars 2021 - HYOF 9

Like February, March was characterized by strong activity in the Nordic primary market for high-yield bonds. Probably partly an effect of increased transaction volumes in Nordic M&A and partly a pent-up need for refinancing. We made 2 investments in the secondary market in March, these took place in illiquid bonds issued by 2 major finance companies. Because the bonds are illiquid […]