Corporate Bond Europe High Yield is a fixed income fund that mainly invests in corporate bonds with lower credit quality (high yield) in Europe. The fund is flexible in terms of industry, currency, maturity and credit rating, which gives the managers opportunities to create a good return. The average duration is between 1-6 years. All holdings are currency hedged. The fund complies with Swedbank Robur’s Policy for Responsible Investment and also applies an extended exclusion level. 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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Updated 2026-07-07In June, a draft peace agreement between the United States and Iran was signed, easing concerns over further energy price-driven inflation. During the month, oil prices declined to around USD 74 per barrel, returning to more normal levels after a period of elevated prices. Financial markets traded strongly on the news but have since oscillated between an improved corporate outlook and concerns over the massive investment needs in data centers and energy supply to support the AI economy. Central banks signaled continued concern and warned that inflation remains too high and is falling too slowly, while also warning of potential future interest rate hikes as a countermeasure. While the ECB raised interest rates, both the US Fed and the Swedish Riksbank left their benchmark interest rates unchanged. Equity markets performed strongly during June, with credit markets also delivering solid returns. Investment grade credits are still trading close to their historically most expensive levels, while high yield started the month somewhat weaker and recovered toward the end. The high rate of return in both credit grades has driven strong demand for corporate bonds, which has supported keeping credit risk premiums down. Swedbank Robur Corporate Bond Europe High Yield performed slightly better than its benchmark index during the month. The most positively contributing sectors were the banking and automotive sectors, while positions within the basic materials sector were less successful for returns." The primary market was active during June with strong demand, which pushed credit spreads downward; consequently, the fund acted selectively and found more attractive opportunities in the secondary market. We view the market outlook positively, where the economy is 'just right' for companies to continue generating stable earnings while still paying high credit spreads. A lasting peace in the Middle East would be even more positive for the credit markets, and the de-escalating tone between the parties seems to point in that direction for the time being. We believe demand for corporate bonds will remain high and will be further positive for returns.
Management
Managed the fund since
2021-06-15
Jan Bjerkeheim
Jan Bjerkeheim is co-portfolio manager of Swedbank Robur Corporate Bond Nordic High Yield, Corporate Bond Europe High Yield and Climate Bond High Yield. He has extensive credit market experience and joined Swedbank Robur in 2021. Experience and education He has previously worked as a high-yield asset manager at SEB Investment Management (2018–2021). Prior to this he was employed at Danske Bank (2007–2018) as a lending specialist to large corporates and previously with investment banking in corporate finance and equity analysis. Jan has an M.Sc. in Business Administration/Major Finance from Stockholm University (2003–2007).
Managed the fund since
2025-01-01
Mathias Westman
Mathias Westman is co-portfolio manager of Swedbank Robur Corporate Bond Nordic High Yield, Corporate Bond Europe High Yield, Climate Bond High Yield, Obligation, Obligation Plus, Förbundsräntefond, Talenten Räntefond Mega and Folksam LO Obligation. He has many years of experience in fixed income and credit trading and joined Swedbank Robur in 2019. Experience and education He has previously worked as a credit trader at Swedbank Robur (2019-2024). He has also worked as a fixed income broker at Gottex Brokers (2013-2019) and as an assistant portfolio manager at Naventi Kapitalförvaltning (2012-2013). Prior to that, he worked as a consultant at Holberg Fondene (2012) and began his financial career as an investment adviser at Skandia Norden (2011-2012). Mathias has studied economics and finance at Linköping University (2008-2011).
Managed the fund since
2022-06-01
Xuli Qian
Xuli Qian is co-portfolio manager of Swedbank Robur Corporate Bond Nordic High Yield, Corporate Bond Europe High Yield and Climate Bond High Yield. She has long and broad experience of the European and Nordic credit market and she joined Swedbank Robur in 2022. Experience and education She has previously managed credit funds at SEB Investment Management (2015-2022) where she has also worked as a quantitative analyst (2013-2015). Prior to this, she worked as an analyst at Nordea Markets (2012-2013). Xuli is a Chartered Financial Analyst, CFA (2018). She has a M.Sc in General Management from Stockholm School of Economics (2011-2013) and a M.Sc in Financial Mathematics from KTH Royal Institute of Technology (2007-2013).
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.
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Updated: 30/06/2026
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Updated: 30/06/2026
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2 / 7Sharpe ratio 2 y
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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 10% 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.