During the month of May, the Protect fund performed as expected, with positive results for the B class despite a certain headwind from the strength of the Swedish krona. With an active derivatives program and strategic adjustments, the fund has secured a stable position in the face of future market movements.

May was a month of stable development for the Protect fund, where the B class returned +2.4 %. At the same time, the C-class was negatively affected by a strengthening of the Swedish krona, which resulted in a return of -1.8 %. The fund benefited from a strong recovery in the stock market after April's decline, which was in line with management's expectations.

An important factor in Protect's success is the fund's active derivatives program. During the month, the protection levels for the fund's protective positions were adjusted, which gave management the opportunity to hedge the portfolio against future uncertainties. With a realized sensitivity per index varying between 37 % and 124 %, we saw a stronger exposure to Europe, while the allocation to the UK (FTSE) performed slightly weaker.

For the coming month, the fund's calculated sensitivity to the index is 77 %, which reflects a well-balanced strategy. The protective positions average -14.3 % from current index levels, while the caps average +4.8 % above. This cautious but strategic approach gives Protect good preparedness for possible market movements.