Corporate Bond Europe is a fixed income fund that mainly invests in corporate bonds with high credit quality (investment grade) issued by European companies. The fund is flexible in terms of industry, currency, maturity and credit rating, which gives the managers opportunities to create a good return. The duration is normally around 5 years. All holdings are currency hedged. The fund complies with Swedbank Robur’s Policy for Responsible Investment. Read more in the fund’s Information Brochure and swedbankrobur.se. Sustainability and climate work constitute an integrated part in our investment strategy. For more information regarding share classes see the Information Brochure. The fund is suitable for those who are looking for an investment opportunity for higher returns than traditional fixed income funds.
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Total fee
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Morningstar Rating Total
SFDR Classification
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Asset Manager Comment
Updated 2026-02-06During the month, market interest rates fell marginally in both SEK and EUR. The credit market performed stronger in January, while volatility remained subdued despite geopolitical developments regarding the Greenland situation. Fed left its key interest rate unchanged in January. The focus is on the labour market, which currently appears to be stabilising. US inflation remains elevated, but market expectations for inflation in both the short and long term are stable. At the end of the month, Kevin Warsh was officially nominated as Powell’s replacement. The market is pricing in an unchanged key interest rate until the middle of the year, when the new Fed chair is expected to take office. The Riksbank did not surprise the market and is likely to keep its key interest rate at 1.75% for some time to come. Inflation was once again lower than expected, and the strong trend for the krona over the past year is contributing to lower inflationary pressure in Sweden. Market pricing until the end of 2026 indicates an unchanged key interest rate for both the Riksbank and the ECB. Pricing at the Fed indicates a total of two interest rate cuts during the year. Premiums for EUR Investment Grade (IG) fell by 0.06%, and the same had a fall of 0.04% in SEK. Premiums for EUR High Yield (HY) fell by 0.03%. German government yields with a 5-year maturity fell by 0.03%. The Stibor 3-month reference rate rose by 0.06%. The fund had a positive return and outperformed its benchmark. Lower government bond yields, subordinated debt and a positive yield contribution contributed to the relative return. The fund’s hedging in credit derivatives had a negative impact on the return. The sectors that contributed most to the return were real estate, banks, base metals and industry. Given the low premiums, the fund has been selective in the primary market, which has seen increased activity. The reporting season has been a positive surprise for many companies. This, combined with continued inflows to the corporate bond market, has further fuelled the strong market performance. Credit premiums in SEK continue to look very attractive compared with their EUR counterparts.
Management
Managed the fund since
2016-06-01
Johan Forsblom
Johan Forsblom manages Swedbank Robur Corporate Bond Europe, Corporate Bond Europe IG and Corporate Bond Nordic. He has many years’ experience of the fixed-income and credit markets and joined Swedbank Robur in 2004. Experience and education He has previously managed Swedbank Robur Företagsobligationsfond High Yield (2016–2020), Corporate Bond Europe Mix (2018–2020) and Räntefond Kort Plus (2017-2023). He has also worked as a fixed income and currency trader (2009–2016), product developer (2007–2009) and operation coordinator (2004–2007) at Swedbank Robur. Prior to this he also worked as a financial advisor at Skandiabanken (2000–2002). Johan has an M.Sc. in Business Administration, major in Finance, and a B.Sc. in Economics from Stockholm University (2002–2004). He has also studied Valuation and Corporate Finance through SSE Executive Education at Stockholm School of Economics (2015).
Managed the fund since
2016-09-01
Helena Frisk
Helena Frisk manages Swedbank Robur Corporate Bond Europe, Corporate Bond Europe IG and Corporate Bond Nordic. She has an education in finance and started at Swedbank Robur in 2016. Experience and education She has previously managed Swedbank Robur Företagsobligationsfond High Yield (2016–2020), Corporate Bond Europe Mix (2018–2020) and Räntefond Kort Plus (2017-2023). She has also worked as a trader in credits (2010–2016) and risk controller (2009–2010) at Swedbank Markets as well as a position as a fund analyst at Söderberg & Partners (2006–2009). Helena has an M.Sc. in Applied Mathematics in Analytical Finance and a B.Sc. in Economics from Mälardalen University (2003–2007). She has also studied Valuation and Corporate Finance through SSE Executive Education at Stockholm School of Economics (2015).
Fixed-income team
The fixed-income team manages funds encompassing everything from traditional money market and bonds to global corporate bond funds within both Investment Grade and High Yield. This means you can find products with exposure across the entire interest-rate spectrum. The fund managers have comprehensive knowledge and extensive experience of the fixed-income and credit markets in both the Nordic and European regions. The team consists of twelve portfolio managers which are divided between fixed income management and credit management.
Fixed-income funds
Our actively managed fixed-income funds apply an investment strategy based on the fund managers’ projected interest rate trend compared with the market’s pricing. The corporate bond funds focus on the selection of companies, but the sector, regional and thematic analyses are also key components of the strategy. All our fixed-income funds possess a clear sustainability profile and our fixed-income fund management is the largest in the Nordic region in terms of investments in green bonds.
Region
Sweden
13.88 %
France
13.29 %
Netherlands
9.35 %
United States of America
7.18 %
United Kingdom
5.39 %
Other
37.86 %
Industry
Largest holdings
Asset allocation
Credit rating
Average Credit Rating
Average Credit RatingBBB
Rating table aggregated per level
Capital structure rating (HY/IG)
Capital structure fixed/floating rate
Fees
Total fee
0.77 %
Ongoing costs
0.62 %
Of which
Management fee
0.60 %
Transaction costs
0.15 %
Performance based fee
-
Risk
Risk (SRI)
2 / 7Sharpe ratio 3 y
0.85 %
Standard Deviation 3 y
2.61 %
Active risk 3 y
0.40 %
Fund Facts
Management Company
Swedbank Robur Fonder AB
Share Class
A
Dividend
No
ISIN
SE0005506300
Base Currency
SEK
Share Class Currency
SEK
Start date
24/04/2014
NAV-price
147.62 SEK
Asset Under Management
20,233.93 MSEK
Type
Fixed Income
Legal seat
Sweden
UCITS
Yes
Benchmark
Markit iBoxx Euro Corporate Overall Total Return
NAV Update
Daily
PPM-number
-
Morningstar Rating Total
Morningstar Rating är 2 av 5 stjärnor
Sustainability
SFDR Classification
Article 8
CO₂
7/11
Sustainable bonds
28.35 %
Exclusion level
Policy
ESG rating
AA
Sustainable Finance Disclosures
Summary
This financial product promotes environmental or social characteristics, but does not have a sustainable investment objective. However, the fund will have a minimum share of sustainable investments.
The fund analyses how the sustainable investments affect such things as emissions, water and biodiversity on an ongoing basis. The fund also ensures that the holdings do not seriously and systematically infringe on accepted international standards and conventions relating to sustainability as adopted by the UN, ILO and OECD or are otherwise involved in unacceptable operations relating to sustainability or corporate governance.
External suppliers will provide Swedbank Robur with an analysis of which companies can be associated with violations of international norms. Based on information from our suppliers and other available information, Swedbank Robur will make its own assessment on whether it is a question of a serious and systematic violation. If such a violation is deemed to occur, the company's securities are not a sustainable investment.
The fund promotes low emissions of carbon dioxide, a net zero target, sustainable bonds, bond financing of companies classified as a sustainable investment, an environmentally more sustainable approach by the activities of issuers through Environmental Engagement (E) and an increased social responsibility on the part of issuers through Social Engagement (S).
Sustainability and climate work constitute an integrated part of the investment strategy in order to manage sustainability and climate risks and to promote environmental and social characteristics. The fund is obligated to follow the Management Company’s "Policy for Responsible Investments" (adopted by the Board) and uses three overarching methods ("include", "exclude" and "engage") in order to achieve the environmental and social characteristics promoted by the fund. The fund follows the Management Company’s "Principles for Shareholder Engagement" (adopted by the Board). As an active owner, the aim of Swedbank Robur is that the companies we invest in are managed in an efficient and long-term sustainable manner.
There are plans for at least 70% of the fund's assets to consist of investments aligned with environmental or social characteristics, of which at least 20% will be sustainable investments.
The Management Company’s risk function monitors and checks that the environmental or social characteristics that the fund promotes are complied with. The risk function also performs a quarterly follow-up and analysis of the metrics the Management Company has selected to measure how the fund’s investments promote environmental or social characteristics.
In order to measure the attainment of the environmental and social characteristics that the fund promotes, the sustainability indicators weighted average carbon dioxide intensity, net zero target, sustainable bonds, share of bonds in sustainable companies, Environmental Engagement (E) and Social Engagement (S) are used.
Swedbank Robur uses several sources in its process to measure how funds promote environmental and social characteristics. Swedbank Robur purchases data from major data providers that have demonstrated a robust method for guaranteeing the quality of data. In order to guarantee the quality of the data purchased, the supplier's data and product range are reviewed. When there is an opportunity, test data is taken from several providers offering the same product in order to compare as large a selection as possible.
There are a number of limitations with the models and data being currently used. The main limitation is the number of asset allocations for which metric calculation methods exist. The coverage is generally good for the funds, where a mix between reported and estimated data is used. Furthermore, Swedbank Robur believes that the method used by the data provider for estimating data is reliable.
The Management Company has due diligence procedures in place in order to ensure that sustainability risks and the sustainability requirements established for the fund are taken into consideration in the investment decision. Sustainability analysis is an integrated part of the fund management’s investment process. In order to manage sustainability risks and integrate the risks in investment decisions, the fund management follows the procedures that the Management Company describes in the Management Company’s "Strategy to include" and "Strategy to exclude". The Management Company’s risk function performs a daily inspection to determine whether the fund’s holdings fulfil its sustainability requirements and regulations regarding exclusion.
The fund follows the Management Company's "Principles for Shareholder Engagement" (adopted by the Board). In the event of sustainability-related controversies in invested companies, Swedbank Robur has special procedures and processes to monitor and follow up with the company. Both dialogue work and voting are key tools to try to prevent and respond to sustainability-related controversies.