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In contrast to 2016, when the year started off with a sharp decline in global markets, 2017 did not present any substantial market corrections. The sailing was smooth, and as the year came to an end global equities (measured by the MSCI World Index) had risen for 14 consecutive months. Such a streak of monthly gains had not occurred since the inception of the MSCI world Index in 1969.

All in all, the 2017 market conditions provided a favourable backdrop for our funds.


The optimism in financial markets was widespread throughout the year. A record amount of new issues came to the Nordic high yield market, amounting to more than NOK 120 billion, and the large US companies continued to set a record amount of new issues to the market, for the sixth consecutive year.

Read the complete annual report here.