Joakim By

Coeli AM is an active manager which invests in equity and equity-related securities, third-party funds and alternative asset classes. They invest in Swedish equity, and marginally in Nordic countries, North America and the UK. Their equity portfolio is concentrated and diversified across sectors including telecommunications, energy and resources. The firm follows a sectorial and regional tactical asset allocation strategy and aims to construct uncorrelated portfolios. Their investment approach favors high-performing funds and autonomous asset managers, avoiding index-oriented managers. They invest in funds following a variety of strategies, including funds specialized in equity, fixed-income, alternative asset classes, regions and countries (Sweden in particular). Their multi-manager selection process uses a proprietary analytic model and is segmented into three phases. The screening of a vast universe of third-party funds yields a list of approximately a hundred funds to be researched, of which about half are analyzed in depth.

HBF utilizes active strategies that aim to deliver yields that outperform the index over the long-term. For equity management, every active position is based on fundamental analysis in their proprietary model for company evaluations. Within active fund management, the firm works with several investment processes: Allocation, Theme-based, Selective, Small-caps and Fixed income. The investment process for each product requires the fund manager responsible for the portfolio to take several investment decisions. With each investment decision the fund manager is responsible for ensuring that the decision concurs with the objective, investment strategy and risk mandate for the fund/discretionary mandate in question.