Equity funds: Five winners, five losers – HegnarOnline

Equity funds: Five winners, five losers – HegnarOnline

fund analysts at Morningstar is out with its latest rating of the Norwegian fund, based on exchange rates as at the end of September.

The last month has five funds had been upgraded, and five funds downgraded.

Upgraded

• Alfred Berg Gambak (from 4′s to 5′s) (manager: Leif Eriksrød)
• Danske Invest Norwegian Equity Inst I (from 4′s to 5′s) (managers: Håkon Persen Soderstrom, Lars Erik Moen)
• Alfred Berg Classic (from 3′s to 4′s ) (managers: Leif Eriksrød, Petter Tusvik)
• Nordea Norway Plus (from 2′s to 3′s) (managers: Jakob Voss Farm, Jon Fredrik Hille-Walle)
• Atlas Norway (from 2′s to 3′s) (manager: Carsten Winger)

Of these, Alfred Berg Gambak clearly the best return so far this year (as 9.30), with 18.8 percent.

Alfred Berg Classic comes closest with plus 13.9 percent.

Most modest return in Nordea Norway Plus – 6.5 percent.

Gambak was also best in September with its 1.3 per cent, while Atlas Norway quintet was weakest at minus 0.4 percent.

Read also: Seven Star Fund – and Norway’s worst goes on stjernesmell

Nedgradert

• Carnegie Norway index (from 3′s to 2′s) (manager: Pernille Christensen Skarstein)
• Pareto Active (from 3′s to 2′s) (managers: Einar Løvoll, Torbjørn Frønningen, Besim Zekiri, Emil Bull)
• DNB Norway Selective (II) (from 4′s to 3′s) (manager: Thomas Vogt)
• Pareto Stock Norway (from 4 to 3 is s) (managers: Einar Løvoll, Torbjørn Frønningen, Besim Zekiri, Emil Bull)
• Storebrand growth (from 5-4′s) (manager: Andreas Berdal Lorentzen)

Storebrand growth has by far the weakest returns so far this year (still at 9.30), by 3.1 percent.

Pareto Active is the second weakest of 6.25 percent.

The same funds were weakest in September.

Storebrand Growth got a return was negative 2.0 percent, while Pareto Active fell by 1.05 percent.

Where the stars come from?
Briefly Morningstar Rating is an objective way to compare historical results. Factors that determine how the funds are doing it is:

Morningstar Category (Funds are compared within a category – in this case Norway)

• Return
• Risk (focusing on downside risk)
• Cost
• Horizon (3, 5 and 10 years, summarized in “overall rating”, which is what you get here the rating is a weighted average of the three periods)

– We carry a risk adjustment that focuses on downside risk, and that the return figures are adjusted for buying and selling fees. The 10 percent with the best risk-adjusted returns gets 5 stars, while 22.5 percent next gets 4 stars.

– Further they get 35 percent next 3 stars, the next 22.5 percent two stars, while the 10 percent worst gets 1 star, explains fund analyst Thomas Furuseth Morningstar.

The rating is carried out as mentioned above three periods: 3, 5 and 10.

– “Overall rating” is a weighted average of these three periods, end Furuseth.

To learn more about how Morningstar reaches its stellar distributions, you can find it here.

More about personal finance can click here.

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