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People walking in street in China
Rising US-China trade tensions caused share prices to fluctuate in the quarter, but our funds successfully navigated the market turbulence. Photo: Bloomberg

SKAGEN Global

US holdings’ strength drives absolute and relative gains as four new holdings enter the fund. 

Our global equity fund SKAGEN Global A climbed 5.3% over the quarter, outperforming the MSCI All Country World Index which rose 2.0%.

Global-Q2-2019.PNG

Figures as at 30/06/2019 in EUR, net of fees and annualised for periods greater than 1 year.
* Inception date: 07/08/1997 
** Before 01/01/2010 benchmark was MSCI World Index

Quarterly Report: Read the SKAGEN Global Q2 2019 Report.


SKAGEN Kon-Tiki

New investments contribute positively as monetary policy turns dovish amid EM volatility. 

Our emerging markets equity fund SKAGEN Kon-Tiki A added 0.7% in the quarter, outperforming the MSCI Emerging Markets Index which fell 0.7%.

KonTiki-Q2-2019.PNG

Figures as at 30/06/2019 in EUR, net of fees and annualised for periods greater than one year
* Inception date: 05/04/2002
** MSCI EM Index (net total return) did not exist at the inception of the fund and consequently the benchmark index prior to 1/1/2004 was the MSCI World AC Index. This is not reflected in the table above which shows the MSCI EM Index since the fund’s inception. 

Quarterly Report: Read the SKAGEN Kon-Tiki Q2 2019 Report.

 

SKAGEN Focus

Metro takeover offer drives absolute gains as global trade tensions create new opportunities. 

Our high concentration global equity fund SKAGEN Focus A increased 0.4% over the quarter, underperforming the MSCI All Country World Index which added 2.0%.

Focus-Q2-2019.PNG

Figures as at 30/06/2019 in EUR, net of fees and annualised for periods greater than one year
* Inception date: 26/05/2015 

Quarterly Report: Read the SKAGEN Focus Q2 2019 Report

 

SKAGEN Insight 

Activism headwinds as trade war sparks market jitters but portfolio progress remains positive.

Our shadow activist equity fund SKAGEN Insight A lost 2.5% during the quarter, underperforming the MSCI World Index which rose 2.4%.

Insight-Q2-2019.PNG

Figures as at 30/06/2019 in EUR, net of fees and annualised for periods greater than one year.
*Inception date: 21/08/2017

Quarterly Report: Read the SKAGEN Insight Q2 2019 Report.

 

SKAGEN m2

Scandinavian holdings drive relative gains; portfolio resilient and attractively valued. 

Our global real estate equity fund SKAGEN m2 A dipped 0.2% during the quarter, outperforming the MSCI All Country World Index IMI Real Estate ex Equity REITS index which fell 3.6%.

M2-Q2-2019.PNG

Figures as at 30/06/2019 in EUR, net of fees and annualised for periods greater than one year
* Inception date: 31/10/2012
 

Quarterly Report: Read the SKAGEN m2 Q2 2019 Report.

 

SKAGEN Tellus

Falling long-term interest rates and tightening credit spreads drive positive absolute return. 

Our global bond fund SKAGEN Tellus A added 1.3% in the quarter, underperforming the JPM Broad GBI Unhedged index which climbed 2.0%.

Tellus-Q2-2019.PNG

Figures as at 30/06/2019 in EUR, net of fees and annualised for periods greater than one year
* Inception date 29/09/2006
** Before 01/01/2013 benchmark was Barclay's Capital Global Treasury Index 3-5 years
 

Quarterly Report: Read the SKAGEN Tellus Q2 2019 Report.

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All contribution figures are based on NOK returns at the fund level.

 

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