In June, geopolitical concerns subsided and oil fell back, but the relief did not lift everything. The market rotated: Europe and Japan rose while the US fell, and the month ended with a rebound in technology. Crescit Protect took a break and fell 0.6 percent in the USD class, while the year is +6.2 percent. The difference against the Swedish class was large, +4.2 percent in June, as the dollar weakened against the krona.

We held the protection throughout the month. The fund's put options were around 17 percent below index levels, and the fund participated in the rise in Europe and Japan while the American part was the underdog. The point of Protect is to participate in the market with a floor under your feet, not to catch every rise.

For the saver, this means a smoother journey and less sensitivity to a quick setback, without us needing to predict exactly when it will come.