SKAGEN Funds

We congratulate!

Sondre Solvoll Bakketun will take on the role of Portfolio Manager of SKAGEN Vekst, joining Lead Portfolio Manager Søren Milo Christensen 👏

Sondre joined the portfolio management team in 2015, as part of the fixed income team managing our money market funds.

Between 2017 and 2020, Sondre held the position of equity analyst, collaborating with the portfolio managers of our equity funds and contributing successfully to stock picking and sector analysis.

Most recently, he has been Lead Portfolio Manager of the two fixed income funds SKAGEN Tellus and SKAGEN Avkastning since September 2020.

Investment Director Alexandra Morris commented:
“Sondre is a valued and well-rounded member of the portfolio management team, and we are delighted that he has agreed to strengthen the SKAGEN Vekst team. He has broad experience both as an equity analyst and as portfolio manager of our fixed income funds. He will work closely alongside Lead Portfolio Manager Søren Milo Christensen to secure the best interests of the fund's unit holders.”

Best of luck in the search for value investments for our clients!

"The key to successful investing – especially during periods of market stress – is contrarian thinking and patience.

That's true whether we're heading for a recession or not."

Read Investment Director Alexandra Morris' update 👇

CIO Update: What recession would mean for stock markets and our funds As stock markets continue to slide and sentiment darkens by the day, it is natural to wonder how close we are to the bottom. During periods of market stress, there is often a phase of capitulation before a catalyst for recovery; the collapse of Lehman Brothers followed by Quantitative Easing, for ex...

The crisis-rich first half of 2022 has led to numerous challenges for investors. Nonetheless, for each challenge there is invariably a corresponding opportunity.

One example is the SKAGEN holding Samsung, which has become an even more important strategic player in semiconductors. The company is no. 1 in memory already and has less China production reliance than its competitors.

CEO Tim Warrington reflects on the nature of crises and the opportunities they often provide.

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This is marketing communication. Historical returns are no guarantee for future returns. There is risk associated with investing in funds. Before subscribing, you are encouraged to read the funds' key information and prospectus.

What should investors consider during times of crisis and inflation? Following a crisis-rich first half for 2022, we reflect on the nature of crises and the opportunities they often provide. And with inflation set to continue, what actions should investors consider?

Inflationary pressures have forced global central banks to hike interest rates aggressively and withdraw support to bonds by ending the QE experiment around the world.

This changing investment environment has propelled value equities ahead of growth at mid-year – Jonas Edholm, Portfolio Manager of SKAGEN Focus, explores 5️⃣ key forces driving their resurgence and explains why valuations matter again.

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This is marketing communication. Historical returns are no guarantee for future returns. There is risk associated with investing in funds. Before subscribing, you are encouraged to read the funds' key information and prospectus - you can find them at skagenfunds.com.

The five forces driving the resurgence of value stocks Foes become friends: How five forces that challenged value stocks are now driving its resurgence.

After several jittery weeks, the US benchmark S&P 500 index entered a bear market in mid-June. What does this mean for stock markets and your investments in our funds?

Read our Investment Director Alexandra Morris' thoughts👇

Braced for a bear market: A SKAGEN perspective After several jittery weeks, the US benchmark S&P 500 index on Monday entered a bear market. What does this mean for stock markets and your investments in our funds?

"Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man."

Although less dramatic than the words of Ronald Reagan 👆, OECD's latest economic outlook spells out the harmful effects of rising prices.

Investment director Alexandra Morris has taken a deep dive into the report. Read her thoughts here 👇

The silent assassin: What rising inflation means for investors The current mood may be gloomy, but a diversified stock portfolio still provides the best protection against the silent assassin of inflation and the route to maximising long-term risk-adjusted returns.

New position available!

We are looking for an International Business Developer/Sales Manager for our International Department. The role will include establishing, developing, and managing relationships with wholesale distributors and institutional investors.

Do you have the relevant qualifications and experience for the role, as well as an international mindset? Then send us your application by 10 June! 📅

You can read more about the position here 👇
https://bit.ly/SKAGENavailable_position

International Business Developer – Sales Manager SKAGEN Funds is a highly active equity fund manager with a value-based investment philosophy. As part of our international strategy to distribute products to professional clients globally, we are looking for an International Business Developer/Sales Manager based in either Stavanger, Norway or Frank...

Our Sustainability Report details the nuts and bolts of our active engagement activity.

It lays out how we work with all aspects of sustainability – from how we incorporate ESG (environment, social and governance) factors into our investment process to how we as a company work with sustainability.

You can read the latest report here 👉 https://bit.ly/SustainabilityReport_SKAGEN2021

"The pandemic caused the advances that women have made in society to be questioned and undermined. Women deserve the same economic, social and political rights as men, as well as full participation – that is a simple definition of women's rights."

Hillary Rodham Clinton at our New Year's Conference 2022.

Due to the tragedy unfolding in Ukraine, SKAGEN will freeze all Russian investments in its funds and divest from Russia, based on Russia's human rights violations and the imposition of sanctions from the international community.

Read more 👉 https://www.skagenfunds.com/topic/stock-markets/skagen-excludes-all-russian-investments/

Emerging markets have been facing headwinds ever since the summer. Tightening regulations in China, a faltering real estate giant and supply chain bottlenecks have all contributed to the recent developments.

At our upcoming webinar, SKAGEN Kon-Tiki Portfolio Manager Fredrik Bjelland will discuss the outlook for emerging markets and give an update on the portfolio companies in the fund.

You're invited! To register 👉 https://bit.ly/SKAGEN_Kon-Tiki_Webinar-Nov2021

SKAGEN Kon-Tiki's Fredrik Bjelland examines China's latest stock market meltdown as well as the implications and opportunities for emerging market investors.

Navigating the China Syndrome The latest Chinese stock market meltdown has brought Emerging Market valuations to compelling levels.

Investing in equities has been one of history's greatest wealth creation machines but it comes with a few caveats;

1️⃣ think long-term
2️⃣ stay calm
3️⃣ get good advice.

CIO Update: Making sense of financial advice Would you go to your neighbour for advice about your chest pains? Unless she is a doctor, the answer is likely no. My guess is that the same goes for your legal challenges, so why do so many people get financial advice from their friends and family?

We are deeply saddened to learn of the death of Kristoffer Stensrud. Our thoughts are with his wife and family.

Kristoffer co-founded SKAGEN in 1993 and was pivotal in building the company's success.

Kristoffer's ethos of hospitality and his warmth, alongside world-beating investment returns, helped SKAGEN to grow from a group of friends investing on behalf of other friends and family to become an international success story. Kristoffer was undoubtedly its leading author.

He was a guru, contrarian thinker, star manager – not to mention much-loved colleague with a great sense of humour.

Thank you for everything ❤

In memory of Kristoffer Stensrud We are deeply saddened to learn of the death of Kristoffer Stensrud at the age of 67. He was a renowned figure in Norwegian and international finance, and widely recognised as one of the greatest investors of his generation. 

Investments in small and mid-cap companies have generated excellent returns for unit holders of SKAGEN Focus. Join Jonas Edholm and David Harris for a webinar, to learn about the portfolio managers' approach to investing.

Registration 👉 https://bit.ly/SKAGEN-Focus_Aug-2021

We still have a goal to improve how our portfolio companies works with sustainability 🍀 In this sustainability report you can read how we worked on this in the second quarter. 🌎

https://www.skagenfunds.ch/topic/sustainability/second-quarter-sustainability-report-the-honest-road-is-the-hardest-road/

Second quarter sustainability report: The honest road is the hardest road As an active owner, SKAGEN's approach is to focus on change when engaging with our portfolio companies where we see there is a need for improvement. Read about our recent company engagement in our second quarter sustainability report.

"In SKAGEN we are an active manager. This means, after our clients, our people matter most".

Read our CEO's update about the first half of 2021 in the link below.

CEO update: Putting people at the centre Reporting on a good first half for 2021, we reflect on the importance of putting people at the centre of all that we do.

SKAGEN Focus is finding value by trawling for smaller companies in shallower waters stocked with opportunities.

Fishing where the fish are The SKAGEN Focus investment team is Jonas Edholm, Portfolio Manager, David Harris, Portfolio Manager and Jakob Rikwide, Equity Analyst.

Join our webinar Friday! Michael Gobitschek, portfolio manager of our global real estate fund SKAGEN m2, discusses the outlook for the fund as the world gradually starts to open up again.
Registration 👉 http://bit.ly/SKAGENm2-webinar_04-2021

Join us for a webinar Tuesday 16 March! Since the markets hit bottom in March 2020, our concentrated global fund SKAGEN Focus has had great progress with its value based management. Get the insight of how portfolio managers Jonas Edholm and Davis Harris think and their views for the time ahead. For registration 👉 http://bit.ly/SKAGEN-Focus_Webinar-Mar-2021

In SKAGEN we take a holistic view of ESG. For us, it is paramount that companies have a strong culture of pursuing improvements and set clear targets which are followed up and reported on regularly in a transparent way.

Sustainability Report for 2020: Values fit for the Anthropocene Our Sustainability Report for 2020 addresses societal issues, sustainability in the funds and future transition efforts, amongst a range of other topics.