The manager initially notes that geopolitical uncertainty, inflationary risks, and concerns regarding global supply chains set the tone for the month.
The Swedish equity market saw a broad-based retreat, with large-cap stocks sliding 8.1 percent while small caps fell 5.6 percent.
The energy sector emerged as the strongest performer, surging 24.1 percent. Conversely, the financial sector contracted by 3.8 percent, while industrials, materials, and real estate all tumbled by more than 10 percent.
Furthermore, no notable corporate earnings reports were published that significantly impacted the market during the period.
Simultaneously, the fixed income market was characterized by an unchanged policy rate and rising long-term yields.
"In summary, the month was marked by war-related anxieties and falling stock markets, a robust Swedish energy sector, and unchanged monetary policy from the Riksbank," the manager writes.
On the positive side of the ledger for the month were Nokia, Nordnet, and Bioarctic.
On the negative side, Boliden, Kinnevik, and Electrolux showed the weakest performance.
At month-end, the fund's three largest holdings were Investor, Ericsson, and Atlas Copco, with portfolio weightings of 8.09, 6.58, and 6.11 percent, respectively.
Regarding geographic exposure, Sweden constituted the largest market at 91.6 percent, followed by Finland and Switzerland at 3.3 and 2.1 percent, respectively.
| Indecap Sverige C, % | March, 2026 |
| Fund MM, change in percent | -8.09 |
| Fund YTD, change in percent | -0.70 |
