DNB Fund Nordic High Yield

Classe di azioni

DNB Fund Nordic High Yield A (ACC) NOK

Credit quality

Percentage of the portfolio rated A- or better: 11%

Norme e standard internazionali

ESG data is integrated into our portfolio management system and is used to assess risks and opportunities related to ESG in investment decisions.

DNB Fund Nordic High Yield A (ACC) NOK

Average rating

Average rating for the portfolio: BBB/BBB-

Indicatore di sostenibilità

The fund promotes, in addition to other considerations, environmental and social aspects through its investment strategy.

Dialoghi

We engage in dialogue with companies. The dialogue can address specific ESG issues (reactive dialogue), or more generally help influence companies in a more sustainable direction (proactive dialogue). The detailed Responsible Investment Policy and the Corporate Exclusion List are available at: https://dnbam.com/en/responsible-investments/esg-overview-dnb-funds

Definizione di standard

Standard setting is an important element of active ownership. As part of this, we develop and publish expectation documents within important areas, which we use to contribute to the improvement of standards in the market, and to form the basis of engagements with companies.

Credit risk: The risk that an issuer is unable to honour its debt obligations, or the fear of this risk could cause the value of their debt securities to fall. Interest rate risk: The risk that the values of fixed income securities will vary inversely with changes in interest rates. Concentration risk: The risk that a negative event or shift in a particular sector or geography to which the fund s investments are exposed causing those investments to lose value. Liquidity risk: The risk that one or more of the funds investments could become hard to value, or to sell at a desired time and price. Currency risk: The risk that a negative change in a currency to which the fund is exposed causing these currency denominated investments to lose value. Sustainability risk: The risk that the occurrence of an environmental, social or governance event would exert material negative impact on the value of a given investment and result in value fluctuation.

ISIN: LU1303785791. Bloomberg ticker: DHYRANO LX. WKN: A2AJDP

Voto

One way to positively influence companies is through voting at general meetings. Our voting guidelines require us to vote at all general meetings of all Norwegian companies in which we have investments. We have chosen a systematic approach to determining which international companies' general meetings we will vote at.

Informazioni legali

This document constitutes a marketing communication. Investors should read the prospectus, Key Information Document (KID), semiannual and annual reports, and summary of investor rights before making any investment decision. English versions are available at www.dnbam.com under “Our Funds”, at DNB Asset Management AS, Dronning Eufemias gate 30, 0021 Oslo, Norway, or at the management company FundPartner Solutions (Europe) S.A., 15, avenue John F. Kennedy, L-1855 Luxembourg. Local language versions may also be available. Not all funds or fund units are available for sale in all countries. This material is not directed to, nor intended for use by, any person or entity in a jurisdiction where distribution would be unlawful. Tax treatment depends on individual circumstances and may change over time. References to rankings, ratings, or awards are not guarantees of future performance. Investments in funds carry financial risk. Note: Investing in the Fund involves acquiring units or shares of the Fund, not the underlying holdings. Issuer: DNB Asset Management AS, authorised and regulated by Finanstilsynet, Norway, and part of DNB Group. Switzerland: Representative: FundPartner Solutions (Switzerland) S.A., Route des Acacias 60, CH-1211 Geneva 73. Paying Agent: Banque Pictet & Cie SA, Route des Acacias 60, CH-1211 Geneva 73. USA: Fund units may not be offered, sold, or transferred in the United States. UK: This document constitutes a financial promotion under Section 21 of the UK Financial Services and Markets Act 2000 (as amended) and was approved by Carne International Financial Services (UK) Limited, authorised and regulated by the FCA. UK investors cannot refer complaints against the Management Company or Depositary to the UK Financial Ombudsman Service, nor are losses covered by the Financial Services Compensation Scheme. Complaints may be made to the SICAV, Management Company, or Operator/Depositary via the CSSF if the CSSF’s conditions for out-of-court complaints are met. UK investors may contact DNB Bank ASA for guidance on complaints or alternative dispute resolution. Investor Rights Summary (English): DNB SICAV (LU-Funds): https://www.pictet.com/content/dam/www/documents/legal-and-notes/fundpartner-solutions/fps-summary-of-Investors-rights.pdf.coredownload.pdf No part of this material may be copied or redistributed without prior written consent from DNB Asset Management AS.

This fixed income fund aims to deliver moderate returns on the fund's investments over the medium to long term without taking undue risk. The fund invests in fixed or floating rate debt securities and other debt instruments with minimum ratings of B- or equivalent credit quality at the time of acquisition. The issuers of such debt securities are principally domiciled in the Nordic region, i.e. Norway, Sweden, Finland, Denmark and Iceland; or, while not domiciled in the Nordic region, carry out the predominant portion of their business activities in the Nordic region; or have their debt securities primarily traded in the Nordic region. The fund is actively managed. Investment decisions are based on long-term fundamental analysis, involving thorough assessment of companies, markets and other market factors that may affect companies' performance.

Classificazione SFDR

SFDR classification: Article 8 The fund promotes, in addition to other considerations, environmental and social aspects through its investment strategy.

Gestore/i del fondo

Anders Buvik

Lead portfolio manager

Anders is dr. oecon from Norwegian School of Economics NHH. For almost two decades he was also the supervisor of NFFs Renteanalytikerkurs, Part II.

Anders joined DNB Asset Management AS in October 2012 and has been the Lead Manager of the High Yield-mandates since the inception of the funds. He entered the Industry in 1995, at first for 11 years as partner in Ricardo Private Equity, then in DNB dealing with Bonds, Derivatives, Asset Allocation, Hedging, Risk Management, Analysis and Corporate Finance.

Gestore/i del fondo

Svein Aage Aanes

Portfolio Manager

Svein Aage holds an MSc in Economics from the Norwegian School of Economics and Business Administration and he has completed a research stay at Harvard University. Svein Aage speaks English, German and Norwegian.

Svein Aage Aanes joined DNB Asset Management in 1998. As Head of Fixed Income and FX, Svein Aage has accumulated close to 25 years experience as a Portfolio Manager. In 2000 he was assigned to head up the team. Before joining DNB Asset Management, Svein Aage was a senior economist at Den norske Bank. He began his career in 1991 as an Assistant Professor and researcher in economics at the Norwegian School of Economics and Business Administration in Bergen.

Approcci ESG

Dialogues: Yes
ESG integration: Yes
Voting: No
Exclusions: Yes
Thematic: No
Inclusions: No

Condizioni

Subscription fee: None
Swing pricing: Yes
Liquidity: Daily
Recommended holding period: 7 years; *Same day as valuation day. **Per annum Source: DNB Asset Management
Minimum subscription: NOK 0.00
Redemption fee: None
Performance fee: None
Management fee: 0.80%
Cut-off: 13:00 CET; Conditions

Classe di rischio (SRI 1-7)

SRRI scale from 1 (lowest risk) to 7 (highest). Risk 1 is not equal to a risk-free investment. This indicator can change from time to time.

Summary risk indicator from 1 (lowest risk) to 7 (highest). Risk 1 is not equal to a risk-free investment. This indicator can change from time to time.

Informazioni

Share class NAV: NOK 1546.93
Asset class: Fixed income fund
Use of income: Accumulating
Share class inception date: 17.01.2017
Industry focus: Across sectors
Liquidity focus: High yield
Market focus: Nordics
Fund (AuM): EUR 394.99 million
Legal status: Mutual fund (UCITS)
Share class (AuM): NOK 14.83 million
Fund index: NBP Nordic HY Aggregated Index
Domicile: Luxembourg
Fund inception date: 10.11.2015
Investment process: Fundamentally driven management

Dati di sostenibilità

Carbon intensity; Index; Source: MSCI ESG Research and internal assessments. 2026 MSCI ESG Research LLC. Reproduced by permission. Based on holdings as at 30/10/2026.; Fund
ESG score (from 1 to 10): 6.44

Performance cumulativa

	YTD	Since launch	MTD	5 years	3 years	1 year
Fund	4,71 %	54,69 %	0,11 %	25,47 %	22,3 %	5,14 %
Index	4,85 %	78,72 %	0,02 %	46,04 %	30,67 %	6,03 %

Rendimento annualizzato

	Since launch	5 years	3 years	1 year
Fund	4,56 %	4,64 %	6,94 %	5,15 %
Index	6,11 %	7,87 %	9,32 %	6,04 %

Anno solare

	Fund	Index
2025	5,94 %	9,82 %
2024	9,74 %	11,79 %
2023	3,16 %	8,64 %
2022	-0,51 %	3,98 %
2021	8,19 %	6,74 %
2020	-3,2 %	1,31 %
2019	6,71 %	11,32 %
2018	1,42 %	-2,38 %
2017	9,23 %	4,59 %

Informazioni sui rischi

	Fund
Number of bonds (issuers)	200(131)
Credit spread duration	2,77
Max drawdown	-23,46 %
Effective duration	1,4
Sharpe Ratio*	1,17
Volatility*	2,03 %
YTM hedged portfolio (est.)	8,55 %

Source: DNB Asset Management * These figures are calculated 3 years rolling based on weekly return series.

Criteri di esclusione (screening negativo)

Excluded companies

In addition to norm-based exclusions, the fund does not invest in companies that operate within:

Tobacco (production)

Controversial weapons

DNB's instructions for responsible investments

Cannabis for recreational use

Pornography (production)

Oil sands ≥ 30% of revenues

Coal ≥ 30% of revenues + Absolute criterion

Performance

DNB Fund Nordic High Yield A (ACC) NOK: 1546,93 (2026-11-03)
NBP Nordic HY Aggregated Index: 190,79 (2026-11-03)

Prezzo

DNB Fund Nordic High Yield A (ACC) NOK: 1546,93 (2026-11-03)

Interest rate duration

DNB Fund Nordic High Yield A (ACC) NOK: 1,4 (2026-11-03)
NBP Nordic HY Aggregated Index: 1,21 (2026-11-03)