Investtech's Model Portfolios fell in the fourth quarter with, on average, 1.4 percentage points in relation to the reference index. The portfolios for Norway and Sweden showed excellent results, with returns of respectively 5.7 and 10.6 percentage points better than the index.
|Market||Excess ret. Q1*||Excess ret. Q2*||Excess ret. Q3*||Excess ret. Q4*||Excess ret. 2007|
For the duration of this period, emphasis has been placed on the shares in the portfolio reflecting the market’s composition, and the risks for the portfolio being of the same degree as those for the market. We believe the poor result for the last quarter is first and foremost due to statistical coincidences. It can also be due to the market, on the whole, being negative (moving sideways) during the period, since buy signals (which are often the reason for stocks being chosen for the portfolio) in such situations seldom give results.
The strategy use previously is still considered to be good.
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