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Buffett-Style Hedge Fund Joins the NHX

Report: Systematic Strategies

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Stockholm (HedgeNordic) – NOMA Fokus AS, a long/short equity fund managed by Norwegian-based asset manager NOMA Capital AS, has been added to the Nordic Hedge Index (NHX). The universe of index constituents currently comprises 174 members after NOMA Fokus joined the ranks of NHX members.

NOMA Fokus employs a long/short equity strategy with a primary focus on Nordic equity markets, but the fund may also invest in companies listed in other OECD member countries. NOMA Fokus applies a high-quality value investing approach of constructing a concentrated portfolio consisting of sound companies with strong positions within their industries at reasonable or attractive prices, a value-oriented approach employed by the likes of Warren Buffett. The fund seeks to identify high-quality companies that offer strong potential for value creation in the long-term. The fund’s long-term horizon is also reflected in its subscription and redemption procedures, suited for long-term-oriented investors only. Fund subscriptions can be made twice a year (on the last day of June and December), while redemptions can be made once a year.

Geir Stave, Chief investment officer at NOMA Capital

NOMA Fokus generated a cumulative return of 10.3 percent since its inception in October 2016 through July 2018 with a net average exposure of only 23 percent. Volatility in the same period was 2.4 percent. The managers running NOMA Fokus adjust the fund’s net exposure based upon valuation rather than trying to “time” the market. The fund is managed by Thomas Raaschou (pictured), NOMA Capital’s co-founder and chief executive officer, and Geir Stave, the firm’s other co-founder and chief investment officer.

The fund’s strategy has broadly remained unchanged since 2003 when Raaschou and Stave launched Nordic Alpha, an Irish domiciled hedge fund, at Orkla Finans. Nordic Omega, a small and mid-cap hedge fund was added in 2005. Raaschou joined Awilhelmsen, a Norwegian privately-owned investment company in 2008 as chief investment officer. Geir Stave rejoined Thomas at Awilhelmsen in 2011. They left Awilhelmsen in 2015 to establish NOMA Capital. The latest addition to the team is Frode Foss, currently chief financial officer at Qatar Airways, who joined the board in 2017 and takes over the chairman position from September 2018.

 

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Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

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