Evli Plc Class B · OMXHEX:EVLI
Evli Plc Class B — Investor Presentation (February 2025)
80 slides from Evli Plc Class B's investor presentation, Feb 28, 2025
Slide 1: Evli Nordic Corporate Bond B
EVLI NORDIC CORPORATE BOND B This is marketing material for the fund and is not intended as investment advice or recommendation. Before making an investment decision, the investor must read the fund's key information document and other statutory information about the fund. 28.02.2025 ISIN: FI0008811
Slide 2: Evli Nordic Corporate Bond - Key Differentiators
EXECUTIVE SUMMARY 2 Evli Nordic Corporate Bond - Key Differentiators - Four countries and four currencies mean no indices, no passive instruments, less “hot Unique Asset money” - Half of issuers and one third of volumes unrated, local knowledge mandatory Class - Bonds in crossover space (BBB-BB-B) o
Slide 3: Evli Nordic Corporate Bond – Strong ESG profile
EXECUTIVE SUMMARY 3 Evli Nordic Corporate Bond – Strong ESG profile Responsibility Scores ESG Integration Exclusions -Fund Responsibility (ESG) score AA -External ESG Databases integrated -All ordinary Evli exclusions (scale AAA-CCC) into in-house PM tool - Revenue threshold 0%: Controversial weapon
Slide 4: Table of Contents
4 Table of Contents 01 EVLI PLC 02 NORDIC CORPORATE BONDS 03 CURRENT INVESTMENT OPPORTUNITY 04 FUND SUMMARY AND PERFORMANCE 05 PORTFOLIO COMPOSITION 06 CONSIDERATIONS AND RISK FACTORS 07 INVESTMENT PROCESS AND RESPONSIBLE INVESTING 08 APPENDIX CONFIDENTIAL
Slide 5: Evli Plc
EVLI Q1 EVLI PLC CONFIDENTIAL
Slide 6: Evli Plc
01 EVLI PLC 6 ASSETS UNDER MANAGEMENT (EUR MARKET POSITION AS INSTITUTIONAL Evli Plc BILLION) DECEMBER 31, 2024 ASSET MANAGER (KANTAR PROSPERA 2024) Evli Plc is a Finnish independent investment service 18.9 1. company with a nearly 40-year operating history. We are currently Finland's leading instit
Slide 7: Evli's mutual funds
01 EVLI PLC 7 Evli’s mutual funds FUND AUM (EUR BILLION) NUMBER OF FUNDS Funds are managed by Evli Fund Management DECEMBER 31, 2024 Company Ltd, which is a Finnish fund management company. Evli Fund Management Company is part of 13.4 64 Evli Group whose parent company is Evli Plc. Morningstar, an i
Slide 8: Award-winning asset management from Evli
01 EVLI PLC 8 Award-winning asset management from Evli Evli has been leading Kantar Prospera’s survey for 12 consecutive years in a row1. In the SFR Research’s Institutional Investment Services survey, Evli has been ranked first for five years and second place for three, based on the overall quality
Slide 9: Evli is a forerunner in Responsible Investing
9 Evli is a forerunner in Signatory of a COP15 initiative ’Moving Together on Nature’ Responsible Investing Signatory of Open Letter to EU leaders Joining the PRI Advance initiative as from investors on a endorser sustainable recovery Signatory of a from COVID-19 joint statement on European Investor
Slide 10: Four pillars of responsible investing at Evli
10 Four pillars of responsible investing at Evli #1 in Sustainable investing according to Finnish institutions 2017-20242 Principles for ESG 1 -integration in Engagement and Reporting Responsible Investment Team Responsible Investment investment process active ownership – Decided by Evli’s – Portfol
Slide 11: Nordic Corporate Bonds
02 NORDIC CORPORATE BONDS CONFIDENTIAL
Slide 12: Evli's excellent corporate bond track record
12 Evli’s excellent corporate bond track record Quartile Rankings 4Q 2024* Historical returns are no guarantee of future returns. Morningstar Peer 3 5 10 15 Evli Fund Group Years Years Years Years EUR Ultra Short-Term Evli Euro Liquidity 1 1 1 1 Bond – The first credit fund, Evli Corporate Bond Fund
Slide 13: Nordic Bonds – Unique Asset Class
02 NORDIC CORPORATE BONDS 13 NORDIC BONDS – UNIQUE ASSET CLASS Sizeable market and growing Excess yield vs European credit Limited access – No ETFs CONFIDENTIAL
Slide 14: Nordic Bonds: Already a Number of Issuers
02 NORDIC CORPORATE BONDS 14 Nordic Bonds: Already a Number of Issuers Sizeable Market (non-financials) – Professional investor base 531 vs 568 EUR IG – Floating rate bonds – Many bonds without official credit Market Size (non-financials) rating – Volume equivalent to EUR HY €321 bn – Diverse corpor
Slide 15: Current Investment Opportunity
03 CURRENT INVESTMENT OPPORTUNITY CONFIDENTIAL
Slide 16: Different Risk/Reward Profiles in Nordic Corporate Bond Segments
03 CURRENT INVESTMENT OPPORTUNITY 16 Different Risk/Reward Profiles in Different Nordic Corporate Bond Market Segments Publicly quoted but unrated companies Private Equity Rated owned HY Companies (& Norwegian HY) Evli Nordic Corporate Bond focus BBB / BB type of credit risk CONFIDENTIAL
Slide 17: Nordic Corporate Bond Market Segments
03 CURRENT INVESTMENT OPPORTUNITY 17 Nordic Corporate Bond Market Segments CORE+ CORE SATELLITE Rated companies Publicly quoted Private Equity but unrated owned HY (& companies Norwegian HY) - Small pick up to core - Best relative value vs. index - Relative value varies vs. index European names name
Slide 18: Nordic Issuers Have Value Compared to EUR BBB
03 CURRENT INVESTMENT OPPORTUNITY 18 Nordic Issuers Have Value Compared to EUR BBB = Nordic unrated corporate bond (senior) holdings that we think have IG credit risk profiles EUR BBB- spread curve CONFIDENTIAL
Slide 19: Nordic vs. Euro Core: Better Quality, Better Value
03 CURRENT INVESTMENT OPPORTUNITY 19 Nordic vs. Euro Core: Better Quality, Better Value Case: Kemira Nordic / Euro index Nordic Euro Index Euro Index Home country Finland Germany France Sector Chemicals Chemicals Chemicals Bond credit rating Unrated Baa2 / BBB+ Baa1 / BBB+ Typical bond 1% 03/2028 0.
Slide 20: Nordic Corporates vs EUR Investment Grade
03 CURRENT INVESTMENT OPPORTUNITY 20 Nordic Corporates vs EUR Investment Grade - Higher return without adding volatility Evli Nordic Corporate Bond EUR Corp 1-5yr (ER0V) Fund BM, similar duration with the Nordic Corporate Bond fund EUR IG Non-Fin Corporate (EN00) ECB Corp QE Interest rates decline C
Slide 21: Portfolio Fundamentals in the Nordic Corporate Bond fund
03 CURRENT INVESTMENT OPPORTUNITY 21 Portfolio Fundamentals in the Nordic Corporate Bond fund Portfolio Leverage: Net debt / EBITDA 5 – Company debt leverage has been stable at 4,5 healthy levels despite two crisis, covid and 4 inflation. 3,5 3 Market median BB – Net debt leverage a bit higher for t
Slide 22: Evli Nordic Bond Interest Rate Duration
03 CURRENT INVESTMENT OPPORTUNITY 22 Evli Nordic Bond Interest Rate Duration – Evli Nordic corporate bond fund duration risk – NOK & SEK rates do not have a major effect comes mainly from the intermediate term on the hedged returns as bonds are typically EUR fixed notes FRNs Evli Nordic Corporate Bo
Slide 23: Spread Comparison NCB fund vs. similar EUR Index composite
03 CURRENT INVESTMENT OPPORTUNITY 23 Spread Comparison NCB fund vs. similar EUR Index composite 500 - Nordic relative value is better than before the crisis: Spread difference 450 to European credit has increased 400 350 - Current spread +200* bps is wide compared to the credit quality of the 300 co
Slide 24: Evli Nordic Corporate Fund spread and YTM since start
03 CURRENT INVESTMENT OPPORTUNITY 24 Evli Nordic Corporate Fund spread and YTM since start 7 6 - Credit quality has improved in the 5 Evli Nordic bond fund (higher pure IG weight) 4 - Current spread +200* bps is not 3 fully reflecting the healthy company 2 fundamentals in the Nordics 1 - Yield to ma
Slide 25: Evli Nordic Corporate Bond statistics
03 CURRENT INVESTMENT OPPORTUNITY 25 Evli Nordic Corporate Bond statistics Fund statistics 28.2.2025 Yield (EUR) 4.34% Duration 2.05 Spread duration 3.25 Average rating BBB- OAS 200 bps FRNs 45% HY exposure 34% Number of issuers 140 Green Bonds 28.4% Average ESG (MSCI) AA Size of the fund EUR 1.2 bn
Slide 26: Fund Summary and Performance
04 FUND SUMMARY AND PERFORMANCE CONFIDENTIAL
Slide 27: Evli Nordic Corporate Bond Fund Characteristics
04 FUND SUMMARY AND PERFORMANCE 27 Evli Nordic Corporate Bond Fund Characteristics – 100% Nordic: corporate bonds from Finland, Sweden, Norway, Denmark – Currencies: EUR, SEK, NOK, USD, DDK (all hedged to EUR) – Rating independent: unrated & BB/BBB rated bonds – High grade benchmark: BofA ML 1-5 yr.
Slide 28: Evli Nordic Corporate Bond Fund in a Nutshell
04 FUND SUMMARY AND PERFORMANCE 28 Evli Nordic Corporate Bond Fund in a Nutshell Type of Fund Nordic Corporate Bond Fund (UCITS) Benchmark ICE BofAML 1-5 Year Euro Corporate Index Fund Units Distribution (A) and growth units (B) available. Clean (C) and institutional share classes available (I). Cur
Slide 29: Evli Nordic Corporate Bond Fund history
04 FUND SUMMARY AND PERFORMANCE 29 Evli Nordic Corporate Bond Fund history Jani Kurppa as PM from Current 2013 Nordic ISIN launched 04/2007 strategy from Nordics as a 3/2016 part of fund Fund launched 04/2007 Current fund manager Mr. In 2016 the fund strategy under name Evli Alpha Bond Jani Kurppa t
Slide 30: Net of fee returns - 5 Years
30 Net of fee returns - 5 Years The presented benchmark index for the fund's return is ICE BofA 1-5 Year Euro Corporate Index (ER0V). ICE BofA 1-5 Year Euro Corporate Index (ER0V) has been the official benchmark for the fund since 31.8.2017. Until 31.8.2017, the official benchmark for the fund has b
Slide 31: Net of fee returns - Since current strategy launch
31 Net of fee returns - Since current strategy launch The presented benchmark index for the fund's return is ICE BofA 1-5 Year Euro Corporate Index (ER0V). ICE BofA 1-5 Year Euro Corporate Index (ER0V) has been the official benchmark for the fund since 31.8.2017. Until 31.8.2017, the official benchm
Slide 32: Annual returns, after fees, 28.02.2025
32 Annual returns, after fees, 28.02.2025 Past returns are no guarantee of future returns. The presented benchmark index for the fund's return is ICE BofA 1-5 Year Euro Corporate Index (ER0V). ICE BofA 1-5 Year Euro Corporate Index (ER0V) has been the official benchmark for the fund since 31.8.2017.
Slide 33: Portfolio Composition
05 PORTFOLIO COMPOSITION CONFIDENTIAL
Slide 34: Evli Nordic Corporate Bond positioning and trades 2/2025
05 PORTFOLIO COMPOSITION 34 Evli Nordic Corporate Bond positioning and trades 2/2025 – Nordic primary market was active in February especially with High Yield issuers. Demand is strong with investors holding big cash positions. – The fund participated in selected new issues, but no major shifts in p
Slide 35: Portfolio structure 28.02.2025
35 Portfolio structure 28.02.2025 Evli Nordic Corporate Bond B CONFIDENTIAL
Slide 36: Real Estate sector is recovering
05 PORTFOLIO COMPOSITION 36 Real Estate sector is recovering 110 RE Bond Pricing 100 - Nordic real estate companies have taken 90 measures to adapt to higher interest rates 80 - Portfolio companies are taking variety of 70 actions to fix balance sheets. Avg, LTV 60 around 45% is a healthy starting p
Slide 37: Portfolio Composition by Rating and Internal Classification
05 PORTFOLIO COMPOSITION 37 Evli Nordic Corporate Bond, Portfolio Composition by Rating and Internal Classification, 28.2.2025 In February 2025, the fund held 48% of bonds issued Credit class allocation of the full fund after taking into by unrated companies account the internal classification for u
Slide 38: Unrated part of the portfolio, 28.2.2025
05 PORTFOLIO COMPOSITION 38 Evli Nordic Corporate Bond, Unrated part of the portfolio, 28.2.2025 Unrated bonds – Country allocation Unrated bonds – Sector allocation Denmark Financial Services Banking Insurance Energy 6,8% Telecommunications 2,1% 1,9% 1,0% 0,5% 2,1% Utility Services 2,4% 13,2% Real
Slide 39: S&P Capital IQ Credit Score for the full portfolio
05 PORTFOLIO COMPOSITION 39 S&P Capital IQ Credit Score for the full portfolio, 31.12.2024 - In addition to internally analyzing all the companies based on credit fundamental, we are also employing S&P Capital IQ for credit assessments - S&P Capital IQ puts fundamental data into Standard & Poor’s ra
Slide 40: Top holdings 28.02.2025
40 Top holdings 28.02.2025 10 LARGEST INVESTMENTS 10 LARGEST ISSUERS % % Tornator Oyj 17.10.2031 3.75% Callable Fixed 2.37% Ellevio AB 2.92% Kesko Oyj 2.2.2030 3.5% Callable Fixed 2.22% TORNATOR OYJ 2.37% Kemira Oy 30.3.2028 1% Callable Fixed 1.50% SANOMA OYJ 2.28% Ellevio Ab 20.11.2031 4.29% At Mat
Slide 41: Currency Hedging Cost 1/2025
05 PORTFOLIO COMPOSITION 41 Currency Hedging Cost 1/2025 Hedging Total currency Hedging cost cost/gain per year exposure in fund contribution EUR 59,80 % SEK 0,39 % 26,90 % 0,10 % NOK -1,76 % 12,00 % -0,21 % DKK 0,42 % 0,00 % 0,00 % USD -1,80 % 1,30 % -0,02 % Average hedging cost for the fund -0,13
Slide 42: Evli's funds vs. the market Yield to maturity
42 Evli’s funds vs. the market 28.2.2025 8,0 Evli fund Evli Nordic Senior Secured Loan (AIF; 7.13%) Market 7,0 Evli Nordic High Yield (6.14%) Evli European High Yield (6.08%) 6,0 European Developed Markets High Yield Constrained Evli Emerging Markets Credit (5.15%) 5,0 Yield to maturity Evli Nordic
Slide 43: Evli's corporate bond funds in a nutshell
43 Evli’s corporate bond funds in a nutshell Fund Evli Euro Liquidity Evli Short Corporate Evli Nordic Corporate Evli Corporate Bond Evli Green Corporate Evli European Evli European High Yield Evli Emerging Markets Bond Bond Bond Investment Grade Credit Invests into Nordic ultra-short term Short dat
Slide 44: Evli Credit fund Nordic exposure
05 PORTFOLIO COMPOSITION 44 Evli Credit fund Nordic exposure CONFIDENTIAL
Slide 45: Considerations and Risk Factors
06 CONSIDERATIONS AND RISK FACTORS CONFIDENTIAL
Slide 46: Considerations and Risk Factors
06 CONSIDERATIONS AND RISK FACTORS 46 Considerations and Risk Factors The fund’s goal is to out-perform the benchmark index over the long term. The return expectation and risk of funds investing in corporate bonds are generally higher than the return expectation and risk of funds that invest solely
Slide 47: Investment Process & Responsible Investing
07 INVESTMENT PROCESS & RESPONSIBLE INVESTING CONFIDENTIAL
Slide 48: Investment Philosophy and Strategy
07 INVESTMENT PROCESS & RESPONSIBLE 48 INVESTING Investment Philosophy and Strategy - Creditworthiness is the most important factor in selecting investment targets DISCIPLINED - We assess the TRUE credit quality, NOT relying on official rating - The coupon is a central part of the return - We only i
Slide 49: Nordic Corporates Investment Process
07 INVESTMENT PROCESS & RESPONSIBLE 49 INVESTING Nordic Corporates Investment Process Idea Generation Credit Analysis Execution Screening (>500 name universe) Company Analysis (~200 names) Portfolio (100+ names) Investment Universe: - Financial Statement Analysis Overview and diversity: - Nordic Cor
Slide 50: Credit Analysis: Company
07 INVESTMENT PROCESS & RESPONSIBLE 50 INVESTING Credit Analysis: Company – Main focus on companies that over the cycle: – generate consistent positive free cash flow – debt leverage decreasing & debt coverage increasing – Are priced at an attractive spread compared to their risk Management and othe
Slide 51: How ESG is taken into account in investment decisions
07 INVESTMENT PROCESS & RESPONSIBLE 51 INVESTING How ESG is taken into account in investment decisions ESG factors will influence our analysis of the company, industry as well as our thoughts on the management and owners. Portfolio Managers - Focus on issues that are quantifiable in terms of credit
Slide 52: ESG examples from Evli's corporate bond funds
07 INVESTMENT PROCESS & RESPONSIBLE 52 INVESTING ESG examples from Evli’s corporate bond funds ENVIRONMENTAL Will affect certain sectors more (oil, mining). Examples: - Sold Balder AB’s bonds after several weak, negative ESG signals emerged. Among others, the company bought indirect oil risk by inve
Slide 53: Bond Liquidity Analysis is a Part of Credit Analysis
07 INVESTMENT PROCESS & RESPONSIBLE 53 INVESTING Bond Liquidity Analysis is a Part of Credit Analysis – We only invest in bonds that we estimate to have good secondary market liquidity – Well-known companies in the Nordics with wide investor base – Unrated bonds but equity listed in the local stock
Slide 54: ESG integration in Investment Process
07 INVESTMENT PROCESS & RESPONSIBLE 54 INVESTING ESG integration in Investment Process – Daily activity on fund and company level 2. MONITORING AND ENGAGEMENT – Portfolio managers are responsible for the daily 1. ANALYSIS ESG integration and taking ESG issues into account in all investment decisions
Slide 55: Fund Exclusion in Practice
07 INVESTMENT PROCESS & RESPONSIBLE 55 INVESTING Fund Exclusion in Practice Evli’s general exclusion: Controversial weapons (landmines, cluster bombs, depleted uranium, nuclear weapons, chemical and biological weapons) with a 0% threshold and companies manufacturing tobacco, producing adult entertai
Slide 56: Best-in-class ESG reports provide a comprehensive and transparent view
07 INVESTMENT PROCESS & RESPONSIBLE 56 INVESTING Best-in-class ESG reports 1 provide a comprehensive and 3 transparent view – Quarterly ESG Reports on all Evli funds are published to the open public to add to transparency and improve industry best-practice. 2 4 – Main content in ESG Report 1. ESG ap
Slide 57: Evli's key strengths on Responsible Investing
07 INVESTMENT PROCESS & RESPONSIBLE 57 INVESTING Evli’s key strengths on Responsible Investing ESG is deeply and thoroughly integrated in all daily investment activity in all portfolios managed by Evli Portfolio level ESG profile is reported in detail to add transparency and industry best-practice R
Slide 58: ESG Metrics Q4 2024
07 INVESTMENT PROCESS & RESPONSIBLE 58 INVESTING EVLI NORDIC CORPORATE BOND ESG Metrics Q4 2024 Responsibility score AA Carbon footprint 89 UN Global Compact 0,0 % SFDR classification: Article 8 (t CO2e/M$ sales) fails CURRENT RESPONSIBILITY SCORES CARBON FOOTPRINT AND FOSSIL FUEL RESERVES DEVELOPME
Slide 59: Portfolio Management: Nordic Corporate Bonds
07 INVESTMENT PROCESS & RESPONSIBLE 59 INVESTING Portfolio Management: Nordic Corporate Bonds Evli’s team analyzing Nordic corporates Evli’s equity PMs following Nordic Co’s Mikael Lundström Janne Kujala Chief Investment Head of Nordic Officer Finnish equities Nordic High Yield Equities Nordic Small
Slide 60: Evli's fixed income team
60 Evli’s fixed income team Mikael Lundström Juhamatti Pukka Jussi Hyyppä Juhana Heikkilä Jani Kurppa Juha Mäntykorpi CHIEF INVESTMENT HEAD OF FIXED INCOME HEAD OF LOAN SENIOR PORTFOLIO SENIOR PORTFOLIO PORTFOLIO MANAGER OFFICER STRATEGIES MANAGER MANAGER AT EVLI SINCE 1996 AND AT EVLI SINCE 2008 AN
Slide 61: At Your Service
07 INVESTMENT PROCESS & RESPONSIBLE 61 INVESTING At Your Service Evli Plc Aleksanterinkatu 19, 4th floor P.O. Box 1081, 00101 Helsinki, Finland Petter von Bonsdorff Marco Granskog Ronny Ruohomaa DIRECTOR, INTERNATIONAL SALES DIRECTOR, INTERNATIONAL SALES DIRECTOR, INTERNATIONAL SALES tel. +358 9 476
Slide 62: Twitter - Evli Facebook - Evli LinkedIn - Evli
Twitter - Evli Twitter - Evli Twitter - Evli Facebook - Evli Facebook - Evli LinkedIn - Evli LinkedIn - Evli Instagram Evli Oyj Instagram Evli Oyj Instagram Evli Oyj evli.com evli.com evli.com Evli Oyj | Aleksanterinkatu 19 | PL 1081 | 00101 Helsinki | Vaihde (09) 476 690 | evli.com
Slide 63: Appendix
EVLI Os) APPENDIX CONFIDENTIAL
Slide 64: FX rates supporting exporting industries in Sweden and Norway
08 APPENDIX 64 FX rates supporting exporting industries in Sweden and Norway 13 – Weaker currencies are improving competitiveness of exporting companies in Sweden and Norway 12 EURSEK – Companies can achieve better EURNOK 11 profit margins in local currency compared to Euro area companies 10 9 8 7 6
Slide 65: Sweden GDP & Exports
08 APPENDIX 65 Sweden GDP & Exports – Sweden GDP softer in 2023 after strong covid recovery and higher rates – Swedish GDP Recovery expected from H2 2024 – Swedish exporting sectors benefit from the weaker currency CONFIDENTIAL
Slide 66: Swedish Banking sector is healthy
08 APPENDIX 66 Swedish Banking sector is healthy – Reported credit losses have been lower than expected – Average 0.04% credit losses for the big four banks in H1 2023 – EBA 2023 Stress test confirmed the Nordic and Swedish banks resilience – Despite the use of a more severe stress scenario than EU
Slide 67: The Nordic Model
08 APPENDIX 67 The Nordic Model - The combination of social welfare and economic systems adopted by the region’s countries is called the Nordic model. It matches market economy and economic efficiency with social benefits and income distribution. CONFIDENTIAL
Slide 68: The Nordics – Strong and Stable Economies
08 APPENDIX 68 The Nordics – Strong and Stable Economies “The Nordics are known for high quality of Nordic Countries share the same life, innovativeness, democracy and virtues and traits stability. Here’s a look at what makes the region so successful.“ • Are small export oriented open economies • Ha
Slide 69: Nordics economies on healthy basis
08 APPENDIX 69 Nordics economies on healthy basis Source: Bloomberg 30.9.2024; Note: Nordics unemployment forecast excludes Denmark, for which a forecast was not available. CONFIDENTIAL
Slide 70: Nordics is a very business friendly environment
08 APPENDIX 70 Nordics is a very business friendly environment The Worldwide Governance Indicators (WGI) are a research dataset summarizing the views on the quality of governance provided by many enterprise, citizen and expert survey respondents in industrial and developing countries. WGI is a World
Slide 71: Nordic Bonds: Already a Sizeable Market
08 APPENDIX 71 Nordic Bonds: Already a Sizeable Market Q4 2024 Nordic EUR IG Index EUR HY Index Market Size (non-financials) 321 bn 1,915 bn 372 bn Number of Issuers (non-financials) 531 568 355 Number of Unrated Bonds 69% 0% 0% Unrated Amount 33% 0% 0% Source: Bloomberg 31.12.2024 ▪ Country of risk
Slide 72: Nordic Corporate Bond Market is still Growing
08 APPENDIX 72 Nordic Corporate Bond Market is still Growing Nordic Market Size, EUR bn Nordic Issuer Count 350 600 321 309 525 520 531 301 517 293 493 300 480 490 271 500 450 250 430 430 250 225 400 203 205 200 192 300 150 200 100 100 50 0 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2015 20
Slide 73: Many Big Bond Issues and Maturities to Choose From
08 APPENDIX 73 Nordic Corporate Bond Market: Many Big Bond Issues and Maturities to Choose From Amount outstanding per issue size Amount outstanding per maturity, (EUR, bn) 60 Over 250 mln 50 40 100-250 mln 30 Under 100 mln 20 10 0% 20% 40% 60% 80% - 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034
Slide 74: Nordic Corporate Bond Market - Defaults 2010-2022
08 APPENDIX 74 Nordic Corporate Bond Market - Defaults 2010-2022 Evli has compiled default data from Stamdata with historical bond data from Bloomberg from the years 2010- 2022. We have included all corporate and financial bonds, min €30m issue size and over 18 months of maturity. Default Rates Bond
Slide 75: Nordic Equity Markets – Consistent Excess Returns
08 APPENDIX 75 Nordic Equity Markets – Consistent Excess Returns • Nordic Real Equity Possible explanations behind the Returns have excess returns historically been consistently higher • Relatively strong and stable than those in rest of national governments and Europe economies • This trend is pers
Slide 76: Nordic countries top the 2023 SDG Index
08 APPENDIX 76 Nordic countries top the 2023 SDG Index All four main Nordic countries are in top positions of the global 2023 SDG Index. These leading countries have maintained their top rankings in the global SDG Index since 2015. Source: Europe Sustainable Development Report 2023; https://dashboar
Slide 77: Nordic companies have higher ESG scores and less ESG risk
08 APPENDIX 77 Nordic companies have higher ESG scores and less ESG risk Nordic companies (VINX) have higher MSCI ESG Ratings (AA-rating) than European companies (MSCI Europe, A-rating) and Global companies (MSCI World, A-rating) Nordic companies have also less Carbon, Reputational and Governance ri
Slide 78: Peer analysis – 3 years
08 APPENDIX 78 Peer analysis – 3 years Past returns are no guarantee of future returns. Cumulative returns Evli Nordic Corporate Bond B The Upper Quartile Median The Lower Quartile 10% 5% 0% -5% -10% -15% -20% 2022-01 2022-07 2023-01 2023-07 2024-01 2024-07 Return (Cumulative) Beta Bear Beta Bull Be
Slide 79: Important information
79 Important information This marketing material is intended for non-professional and professional clients in Finland, Sweden, Lithuania, Latvia and Estonia. In other jurisdictions this Document is intended only for professional clients. The management company of the fund is Evli Fund Management Com
Slide 80: Disclaimer statement
80 Disclaimer statement Evli This presentation is intended only for the recipient's personal and private use. This material is based on sources that Evli Group (Evli) considers correct and reliable. However, neither Evli nor its employees give any guarantee concerning the correctness, accuracy or co