SEB's House View

SEB Asset Allocation and Research is the team behind SEB House View and who decides on the asset allocation view of SEB Asset Management.

SEB Asset Allocation and Research decides on how much the fund company recommends to allocate to the different asset classes such as for example equities and government bonds. The House View risk utilisation and model portfolio is implemented in the Asset Management multi asset portfolios.

The speedometer controls risk budgets

The speedometer represents the team’s market view and controls to what extent the portfolios should utilise their risk budgets. It is connected to the model portfolio shown in the, House View presentation, which at all times utilises its risk budget in-line with the speedometer. In a very general sense it can be interpreted as equities on or off, with 50% being neutral.

Highlights from the latest SEB House View

The committee decided to keep the risk utilisation at 50 per cent.

Expect rising economic uncertainty with regards to both growth and inflation as the US tariffs are fully
implemented.
Fed is approaching rate cuts which will support Fixed income portfolios, the USD will continue to
weaken on the back of looser Fed policy.
European growth is slowly improving but earnings growth remains weak.
Expensive equity markets, policy uncertainty and a weaker USD speaks for more diversification to non-
US markets – this process will be a long-term theme.
We continue to like Emerging Markets/China as EPS growth is picking up.
Move to a more defensive stance on Equity Sectors.
We don’t expect a major credit spread widening, but we are currently cautious on High yield.

SEB House View August 2025

House View Reports

Read the House View reports that have been compiled by SEB Group to provide background information and is directed towards institutional investors.

Publications from SEB Asset Allocation and Research

SEB House View
White papers on various allocation themes.
Graph packages.

Förvaltarpodden

This is the podcast where we take you behind the scenes at SEB's fund management company and share our thoughts, insights, and analyses.

Inside the mind of a fund manager

"Inside the mind of a fund manager" is a film series where we share fresh market insights and interview fund managers with different focuses within SEB Asset Management. A regular guest is Carl Hammer, our Head of Allocation and responsible for our market outlook, SEB House View. The moderators are Emelie Sjöberg, Marcus Lindholm, and Annika Hagstedt.

(In Swedish)

Subscribe to our newsletter by filling out the form.

If you have any questions regarding our publications, please reach out to the SEB House View team.

SEBHouseView@seb.se