Crescit Protect fell -1.5 percent in September and is up +6.0 percent for the year. The Swedish share class, Protect C, rose +2.8 percent and is up +15.3 percent. The difference between the classes is currency, as the krona weakened during the month.

The fund's last trading day in August was the 28th. From the same date, the world index fell -1.7 percent, so the fund fell slightly less than the market. The broad equity exposure carried the movement, while the choice of index and the interest income in the structure contributed positively.

Exposure to market movements was high at the end of August and has declined to a more normal level through market movements. The protection level is approximately 14 percent below current index levels and has not been called. The protection is intended to take over in the event of major declines, not a moderate drop such as in September.