Elementa Spins out of PSG

Stockholm (HedgeNordic) – Elementa, the Nordic focused long/short equity fund managed by Marcus Wahlberg (pictured), has received authorisation from the Swedish Financial Supervisory Authority (FI) to become its own Alternative Investment Fund (AIF).

Previously, Elementa was managed within PSG Capital who acted as the AIF.

The new company will be named Elementa Management AB and will have Wahlberg as a majority owner. Other owners include AOM Holding, Filip von Uexkull, Matts Ekman, PSG Capital and Skagerack Ventures. The transition was approved by FI as of May 25, 2016.

In a comment, Marcus Wahlberg says: “We are very pleased to have received authorisation to run Elementa as a standalone company which also means that new resources will be tied to the fund. The fund´s asset base is now sufficiently large to make this transfer and to carry the costs associated with being an AIF.”

The transfer will have no effect on the current unit holders in the fund, the statement says.

Elementa started in March 2015 and has returned 17.6 per cent net of fees to its investors as of April 30, 2016. During the same time period, the SIX Return Index, a proxy for Swedish equities, declined by 5 per cent. The fund was awarded “Rookie of the Year – 2015” at this year´s Nordic Hedge Award.

An extensive interview on Elementas trading strategy can be read here (in Swedish language): interview Marcus Wahlberg

 

 

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About Author

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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