Evli Finland Select

Equity fund that invests in Finnish companies

NAV
12.09.2019
Return %
Year-To-Date
Return %
1 y
Return % p.a.
3 y
Return % p.a.
5 y
Return % p.a.
Since start
14.976 13.85 -0.96 9.30 9.29 11.64
NAV
12.09.2019
Return %
Year-To-Date
Return %
1 y
Return % p.a.
3 y
Return % p.a.
5 y
Return % p.a.
Since start
39.733 13.85 -0.96 9.30 9.29 11.64

Risk

5/7

Morningstar

3/5

Recommended Investment Horizon

7 years or more

Administrative fees

1.80 % p.a.

Suitable for investors

  • who wish to invest in an actively managed and well diversified Finnish equity portfolio
  • who are prepared to tolerate higher volatility in the short term to earn a higher return in the long term.

Invest

min. 1 000 € or 50 €/month

Evli Finland Select is an actively managed equity mutual fund investing primarily in the shares of publicly listed Finnish companies. The aim of the fund is to exceed the total return of the benchmark index over the long term. Stock selection is the main source of outperformance, and every position is expected to contribute to fund performance. Therefore the fund has a focused portfolio of only about 25-30 individual stocks.

 

The portfolio is managed by

Janne Kujala

Janne Kujala

Investment Objective and Risks

The aim is to earn a return which, over a period of more than four years, exceeds the return of the benchmark index.

Monthly review

31.08.2019

In August the total return of the Finnish equity market was -2,0 % (OMX Helsinki Cap GI). Evli Finland Select had a -1.3 % return.

While the various geopolitical actual and potential trouble spots continued to simmer in August – clashes between the police and protesters in Hong Kong, blows exchanged in the US/China trade war, and Britain hobbling towards October 31st - in the financial markets the show was stolen by the plunging bond yields. US 10 year treasuries reached multi-year lows at 1.50 %, and euro govies gauged new depths below the zero level. The US yield curve inverted between the 10 year and 2 year maturities, which has been a reliable precursor of a recession in the US economy over the past 50 years, with just one false alarm. Lead times from inversion to recession have been up to two years, though.  Against this backdrop, global equities were relatively well behaved, with the Finnish market down in-line with the declines seen in the US and Europe.

The fund outperformed the benchmark index in August. Relative performance was aided the most by our overweight in discount retailer Tokmanni (good Q2 report) and underweight in Nokia (no major news). Biggest detractors to relative performance were our overweights in mobile games company Rovio (underwhelming Q2 report) and healthcare provider Terveystalo (no major news).

During the month, we sold our positions in steel producer SSAB and retailer Kesko. We reduced our position bancassurance company company Sampo. We re-initiated a position in pulp & paper machinery company Valmet.

Fund facts

Type of fund Finnish equity fund (UCITS)
Investment activity began 16.10.1989
Benchmark index

OMX Helsinki Cap GI

Profit distribution Fund-units are divided into A and B units. Profit share of at least 4% is distributed on A units annually.

Downloadable files

Invest

min. 1 000 € or 50 €/month