Corporate Bond Nordic High Yield is an actively managed fixed income fund that invests in corporate bonds with low credit quality (High Yield) in the Nordic corporate bond market. This includes instruments issued by both Nordic companies and foreign companies seeking financing from investors in the Nordic region. The average duration of the fund should be within a range of zero to two years. All holdings are currency hedged. The fund complies with Swedbank Robur’s Policy for Responsible Investments. Read more about the policy in the fund’s Information Brochure and swedbankrobur.se. Sustainability and climate work is an integrated part in our investment strategy. The fund consists of share classes, for more information see the Information Brochure. The fund is suitable for those who want the possibility of higher returns than in a corporate bond fund that invests in Investment Grade.
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Asset Manager Comment
Updated 2026-06-05The situation in the Middle East continued to dominate the financial markets throughout May, particularly the hope of a peace deal between the US and Iran. May was a volatile month, starting strongly on the back of hopes for a swift peace agreement, but this momentum was reversed when it became clear that the parties were far apart in the negotiations. The ongoing conflict fuelled concerns about stagflation – that is, stagnating economic activity coupled with rising prices, resulting in negative market price movements.
US jobs data has remained strong and surprised on the upside, whilst US inflation data has also been higher than expected. Combined with political turbulence in the UK and hawkish comments from European central banks, long-term government bond yields were pushed higher in the middle of the month, and financial markets then performed more weakly. When the peace talks subsequently yielded positive news once again, the oil price fell sharply, and renewed hopes for AI growth drove strong performance towards the end of the month.
The Investment Grade and High Yield markets recorded gains of around one per cent each. The Swedbank Robur Corporate Bond Nordic High Yield fund rose by just under one per cent over the month. Although all sectors made a positive contribution to returns, the positions in banking, real estate and engineering were the most successful. The positions in healthcare and telecoms generated the lowest returns over the month.
Looking ahead, we note that risk appetite has returned to the High Yield market, as evidenced by a strong new issue market, where many new companies are entering the markets and several refinancings are taking place, often against oversubscribed order books for the bonds. This strengthens the technical outlook for the asset class, and we remain positive on the market outlook.
Management
Managed the fund since
2025-09-30
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
2025-09-30
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
2025-09-30
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: 29/05/2026
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Updated: 29/05/2026
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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 sustainable bonds, bonds issued by companies classified as sustainable investments, 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 7% will be sustainable investments.
The Management Company’s risk function monitors and checks that the environmental or social characteristics promoted by the fund are being complied with. The risk function also performs quarterly follow-ups and analyses 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 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 or social characteristics. Swedbank Robur purchases data from major data providers that have demonstrated a robust method for ensuring the quality of data. To ensure the quality of the data purchased, the provider’s data and product range are reviewed. Where possible, test data is obtained from several providers offering the same product in order to compare as wide a range as possible.
There are a number of limitations with the models and data currently in use. The main limitation is the number of asset types 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 data providers 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.