Wallenberg's power company Investor reports an adjusted net asset value of 960.6 billion kronor – 314 kronor per share – at the mid-year point in a quarterly report. The total return was simultaneously minus 5 percent. This can be compared to 3 percent comparison index SIXRX on the Stockholm Stock Exchange during the period.
Individual quarters and how the stock goes, that's not what we control, but we focus very much on building net asset value, which we in turn do by trying to build really good companies and develop them, says Cederholm.
Tariff effect
The ongoing trade war has direct effects in a number of companies where it has actually become a cost. But the indirect effects likely have a greater impact – the uncertainty that is created in the market, Cederholm means.
Investor is a major owner of multinational export companies. Do you expect to have to rethink when it comes to which companies you invest in in your portfolio due to trade barriers and tariffs?
We are very pleased and secure in the companies we have. The big change is that a regionalization of supply chains has been going on for many years.
Regionalization
For example, a vulnerability in supply chains was seen during the pandemic, and there may be reason from a sustainability perspective to produce closer. The tariffs add another coin to the scales, Cederholm means. At the same time, companies do not make decisions about factory investments based on tariff discussions.
They move far too much to make such long investment decisions, says Cederholm.
In Investor's portfolio, there are large holdings in listed companies such as ABB, Astra Zeneca, Atlas Copco, Ericsson, and SEB. There are also unlisted companies such as Mölnlycke and Permobil.
