Sweden's growth-oriented fund managers dominate European top 2020 performers

Some of this year’s best-performing European equity fund managers are betting their investments in technology stocks will reap further returns in 2021, even as optimism over coronavirus vaccines fuels a rally in value shares, threatening the funds’ performance.
Photo: Swedbank Robur/PR
Photo: Swedbank Robur/PR
By Namitha Jagadeesh and Ksenia Galouchko / Bloomberg

Among funds with assets exceeding USD 1bn that focus on western European equities, all 10 of the best performers had a tilt toward the digital, software and internet technology sectors, according to data compiled by Bloomberg. This is no surprise considering that the market recovery has been driven by growth stocks, but also makes these funds more vulnerable to a possible outperformance of cheaper value and cyclical companies in 2021 as the vaccines revive economies.

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