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Skagenfondene - Page 1
market report N U M B E R 1 ✱ M AY 2 0 10 ✱ S K A G E N F U N D S .CO M 6 Global world Who cares about currencies, asks Kristoffer Stensrud 8 A capable successor Beate Bredesen takes over the reins of SKAGEN Vekst 10 Standard Chartered Solid and strong in the emerging markets 24 Cracks in the Eurozone Fixed income comment by Torgeir Høien the companies deliver the indiscriminate downward sale we have seen in the equity markets is providing good purchase opportunities for active value-based managers like ourselves. the companies are continuing to deliver better figures than expected and our largest holding, Samsung Electronics, presented its best quarterly figures ever. rEAd thE portfolio mAnAGErS’ rEport on pAGE 14 torkell Eide Brainwashed 5 t hE A rt of Common SE nSE