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Solid Q2 reports!
Vinga CB benefited from solid earnings reports from most portfolio companies in August. Heimstaden led the gains as the company’s hybrid bonds approached par (price 100). The Nordic economy continues to grow at a slow pace, but positive indicators such as household consumption and exports are emerging. Sweden’s autumn budget was more expansionary than expected, increasing the likelihood that the Swedish economy will reach trend growth early next year. The fund’s yield remains at 10.7% with an average coupon of 9.2%.
Read the full monthly report from Vinga Asset Management here.
