Fund manager comment: “So far the quarterly reports are encouraging”

Lannebo Europe Small Cap had a performance of 16.3 percent (EUR) year-to-date by the end of April. The excess return versus the benchmark is 4.2 percent-points year to date. “The reporting season started in the end of April. Most of the companies that we are screening and analyzing will report later in May, but so far the reports are encouraging”, say Carsten Dehn and Ulrik Ellesgaard.
Nyheter
Carsten och Ulrik mini

What companies have been contributing positively in April?

One example is CVS Group which operates veterinary practices in the UK and Netherlands. The share price reacted positively to financial results announced sho¬wing both strong organic growth and a high number of new acquisitions. As a result of good cost control the margins improved more than the analysts expected, causing some analysts to upgrade their earnings estimates.

Another holding company that has performed well is Outotec which is an engineering company that provi¬des equipment and services mainly to the global mining industry. In April the company received a substantial order in the Metals, Energy and Water division showing that the improved sentiment among the mining companies now is starting to generate orders. The chance for the company to exceed the markets’ low ex¬pectations has now increased, which lifted the share price.


Carsten Dehn and Ulrik Ellesgaard

Any new investment in the fund in April?

One new holding company is Datagroup which is among the leading independent IT service providers in Germany targeting medium-sized companies. With its wide service offering, Datagroup is positioned as a one-stop-shop for its customers. The high customer satis¬faction of nearly 80 percent supports renewal rates of more than 98 percent and contributes to the high visibility in earnings. On top of that, Da¬tagroup has a successful takeover track record.

Read the monthly report for Lannebo Europe Small Cap

Related articles

Öhman new main owner in Lannebo Fonder

When Öhman becomes the new main owner of Lannebo Fonder, the result will be the Nordic region's largest independent fund manager and an even more powerful offering to customers. "The companies are a perfect fit...

Read more

Strong start for Lannebo Europe Green Transition

September was another negative month for the stock market. But Lannebo Europe Green Transition has nevertheless got off to a good start. "Falling prices always mean opportunities," say the managers....

Read more

Lannebo launches fund focusing on Europe’s green transition

September sees the launch of the Lannebo Europe Green Transition Article 9. An UCITS equity fund that will invest in small and mid caps that contribute to Europe's green transition....

Read more

New director of institutional sales in Denmark: Philip Garde

Philip Garde is leading the efforts to reach out to institutional investors in the Danish market....

Read more

Lannebo Recruits new head of sustainability from Nordea

Lannebo recruits Katarina Hammar as new Head of Sustainability and Corporate Governance. She joins from Nordea Asset Management, where she was Head of Active Ownership. ...

Read more

Lannebo Sustainable Nordic Equities fund awarded by Lipper

Lannebo Norden Hållbar was awarded as the best Nordic Equities strategy by Refinitiv Lipper. "We've had the courage to go our own way", fund manager Charlotta Faxén says....

Read more

Small caps for the long term

Investments in small caps has been at the heart of Lannebo's management since the company was founded two decades ago. Today the successful strategy is headed by Per Trygg. A fund manager who has his...

Read more

Lannebo Räntefond Kort awarded “Best swedish fixed income fund”

Focus on risk and stability makes Lannebo Räntefond Kort the best swedish bond fund in 2021, according to Fondmarknaden. ...

Read more

Citywire: “Nordic apetite for bite-sized businesses”

Per Trygg manager of the small cap equity fund Lannebo Småbolag interviewed in Citywire. ...

Read more

Lannebo recruits Jessica Malmfors as the new CEO

Lannebos board of directors appoints Jessica Malmfors as new CEO. Jessica Malmfors most recently served as CEO of Nordea Investment Management. ...

Read more