2018-11-02: Status Report
• In the autumn of 2016, we increased the risk (beta) in both funds, CB European Quality Fund (EQF) and CB Save Earth Fund (SEF), primarily by increasing our exposure to cyclical companies within Industrials. Now, two years later, we have reduced the risk in our portfolios, primarily by reducing exposure to highly valued growth companies in favor of larger quality companies with lower but stable growth as well as lower valuation. This means that the funds’ betas are lower today, as are the P/E ratios. Please see pages 2 and 3.
• We believe that the high valuation of growth companies are threatened by rising interest rates and a mature economic cycle, especially in the United States. This in itself does not have to be detrimental to the stock market, but it will probably push down the valuation of the growth companies and lead to a market rotation from growth companies to quality and value companies (that benefits from a mature business cycle and higher interest rates respectively) - a rotation that we have seen recently. The obvious example of this is the IT sector that has driven the market for the past 5 years – with a magnitude we have not seen from any other sector since the IT bubble 99-00 – both in terms of excess return and how long it has lasted. The fact that a sector is performing so much better than any other sector does not mean it's a bubble, but it probably means that some other sector needs to take over as the best sector and the sector that leads the market going forward i.e. rotation. Please see page 4.
• It does not appear to us as that the market has gained too much in recent years, rather the opposite. In Europe, most markets are under their long-term trend return, exemplified here with the UK, Sweden and Switzerland. The exception is the U.S. that is above its long-term trend return. Before previous major drawdowns (>20%, red vertical lines), several markets have been above their long-term trend return - that's not the case this time. Please see pages 5 and 6.
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2021-01-11:Placera/Avanza retains CB Save Earth Fund in their pension portfolio (in Swedish)
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2021-01-10:Di: Alexander Jansson's comments about recent rally in sustainability stocks (in Swedish)
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2021-01-10:Di: Alexander Jansson highlights sustainability stocks worth buying (in Swedish)
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2021-01-04:The December fact sheets are now published
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2020-10-06:Read the latest quarterly updates
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2020-09-18:Read the latest Sustainability Report
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2020-08-19:Placera/Avanza retains CB Save Earth Fund in their pension portfolio (in Swedish)
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2020-07-30:Placera/Avanza retains CB Save Earth Fund in the children's portfolio (in Swedish)
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2020-03-04:Saveearthfund.se: Tips for investing in solar panels (in Swedish)
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2020-02-20:Placera.se: CB Fonder’s comments on the entry charge for CB Save Earth Fund (in Swedish)
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2019-12-12:CB Save Earth Fund is one of Avanza's most owned environmental funds (in Swedish)
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2019-10-24:Placera's fund expert recommends CB Save Earth Fund (in Swedish)
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2019-10-23:Video: Presentation about CB Save Earth Fund for Aktiespararna Stockholm Vasa (in Swedish)
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2019-10-23:Both CB European Quality Fund and CB Save Earth Fund have been approved by the Swedish Pensions Agency according to the new agreement (in Swedish)
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2019-10-22:CB European Quality Fund is YTD one of the best performing European equity funds, according to Swedish fund magazine Placera (in Swedish)
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2019-10-14:CB Save Earth Fund is one of the most popular environmental funds, according to Di (in Swedish)
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2018-11-02:Status Report
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2018-10-01:CB Save Earth Fund and CB European Quality Fund are both nominated to the Sustainable & ESG Investment Awards 2018!
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2018-02-26:CB Save Earth Fund is now available through the ICA Bank fund platform
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2017-12-19:CB Save Earth Fund is now available through the SEB fund platform
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2017-10-10:CB Save Earth Fund is one of the first funds in the world to receive The Nordic Ecolabel, Nordic Swan!
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2017-08-31:CB Save Earth Fund is triple finalist in the Sustainable Investment Awards
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2017-02-23:Analysis of Europe: MAGA is MEGA
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2017-02-20:Interview with Alexander about the paradigm shift in the energy market and the structural growth trends within the environmental sector
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2016-11-08:Status report for CB European Quality Fund and CB Save Earth Fund
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2016-09-20:Analysis: Paradigm shift in the energy sector
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2015-08-27:Status report for CB European Quality Fund
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2015-05-05:Financial Times quotes our latest market outlook
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2015-04-13:Presentation: Europe Outlook
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2015-02-13:Analysis: The Marshall Plan 2.0 - Welcome back Europe
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2014-12-11:Analysis: What are the implications of a falling oil price on a green equity fund?
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2014-09-08:UN PRI Transparency Reports published
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2014-05-14:New distribution share class for CB Save Earth Fund
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2014-03-21:CB Fonder has decided to close CB Hedge
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2014-02-13:Alexander Jansson appointed CEO
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2013-12-06:Presentation: Our view on Europe
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2013-09-30:Why we find Europe attractive, again
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2013-05-29:Is the era of the BRICs over? Analysis from CB Fonder
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2013-04-19:Class IC, new institutional share class launched for Save Earth Fund
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2013-04-12:European Quality Fund top-ranked by Morningstar Luxembourg
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2013-01-29:2012 summary of our funds
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2013-01-21:CB Fonder - Portfolio Manager of the year
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2012-12-17:Class I, new institutional share class launched for European Quality Fund
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2012-07-05:Interview with Investment Europe
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2012-06-15:Why we find Europe attractive
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2011-03-28:CB Funds has become a signatory of UNPRI
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2011-03-25:CB Funds in unique collaboration with Aktieinvest
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2011-01-20:CB Funds in 2010