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Interview Anders Blomqvist – Atlant Sharp Europe

Report: Systematic Strategies

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Stockholm (HedgeNordic) – Anders Blomqvist is the portfolio manager of Atland Fonder´s newly launched hedge fund Atlant Sharp Europe. Together with Atlant´s lead portfolio manager, Anders Kullberg, he has developed a product that aims to generate returns through trading index futures on the EuroStoxx 50 index. The Sharp fund already exists in a Swedish version trading the OMXS30 index.

In an interview, Anders talks about his background, what he wants to achieve with the new fund and what to expect in terms of the risk and return profile.

HedgeNordic: Tell us more about your background

Anders Blomqvist: I used to be market making Nordic equity derivatives within SEB for fifteen years. During the last five years I was responsible for the bank´s equity trading book. In that role, I provided clients with liquidity in equities and derivatives products and I was also responsible for overseeing the risk profile of the bank´s trading books.

HedgeNordic: How come you start a fund under the Atlant Fonder brand?

Anders Blomqvist: During my time at SEB I got to know Atlant´s lead portfolio manager Anders Kullberg. He was an active client on the derivatives side and we did a lot of transactions together. When I left SEB, I contacted Anders to see if there was anything we could do together. He then explained that he had financial advisors asking for a European version of the existing Sharp fund. We agreed that this was a good starting point for a cooperation.

HedgeNordic: What was it clients were looking for?

Anders Blomqvist: I think they like the risk profile of Sharp where you take part in equity market upswings but limit your downside. The downside in Sharp is limited to a loss on an annual basis of around 10 percent, that will apply to the European version as well.

HedgeNordic: Will there be any differences with regards to the risk/return profile of the new fund compared to the existing Sharp fund?

Anders Blomqvist: The risk profile of Sharp Europe will be similar to that of Sharp where the volatility is supposed to be slightly lower compared to the overall market. However, the underlying European index is somewhat more volatile compared to the OMX index. This has, among other things, to do with the fact that the European index contains some exposures in southern Europe that from time to time can be quite volatile.

HedgeNordic:How do you manage the fund´s risk level and what are your
active decisions based on?

Anders Blomqvist: Our exposure is a product of how we look at the macro environment, we also consider technical levels on the indices we trade. Within the portfolio management team, we have meetings continously where we discuss our macro views. We have the authority to deviate from the fund´s standard risk levels if we have strong views. There is no such thing as a quantitative model supporting our decisions, it is rather the result of experience, a sense of how markets act and disciplined risk taking. As the Atlant team now grows, I believe there will be a more dynamic discussions regarding the investment management decisions and this is likey to contribute to our success going forward.

HedgeNordic:What is your current market view and how has that changed thoughout the year?

Anders Blomqvist: In the beginning of the autumn, we beleived that the market was in for either a slight gain or a complete wash out with equities falling sharply. Since we never saw the wash out, we are now somewhat more constructive in our market view but we have no leverage on at the moment. The period that lies ahead of us is however strong from a seasonality perspective.

HedgeNordic: How would you describe the fund in a nutshell?

Anders Blomqvist: You can compare it to an equity bond. It is positioned to take advantage of rising equity markets but looks to limit the downside risk.

HedgeNordic: What is, according to you, the most significant risk that investors should be wary of when considering an Atlant Sharp Europe investment?

Anders Blomqvist: This should be seen as an actively managed fund where the manager takes active decisions. The most significant risk, as I see it, is that we completely misjudge the market and enters into misaligned positions. However, long-term we have showed that we have been able to generate solid risk/adjusted returns in many different market environments. I believe we have a return profile that fits both retail and institutional investors.

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Jonathan Furelid
Jonathan Furelid
Jonathan Furelid is editor and hedge fund analyst at HedgeNordic. Having a background allocating institutional portfolios of systematic strategies at CTA-specialist RPM Risk & Portfolio Management, Mr. Furelid’s focus areas include sytematic macro and CTAs. Jonathan can be reached at: jonathan@hedgenordic.com

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