- Advertisement -
- Advertisement -

Related

CARN Capital Turns to Long-Only Investing

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Norwegian asset manager CARN Capital, which manages long/short fundamental equity fund CARN Long Short, plans to launch a long-only equity fund focused on the Nordic mid-cap space before the summer. “Due to increased interest from our investor base, we are launching a long-only fund that provides investors the opportunity to get full exposure to the Nordic stock market,” announces founding partner and portfolio manager Christer Bjørndal.

Managed by Christer Bjørndal, founding partner Andreas Bomann-Larsen, senior analyst Harald Havnen and sustainability analyst Jon Audun Kvalbein, CARN Long Short is a long/short fundamental equity fund that invests in sustainable Nordic medium-sized public companies. On the long side, the investment team predominantly seeks to invest in companies with strong economic characteristics and “a sustainable business model that aligns with solving the Sustainable Development Goals.”

“Traditionally, ethical investments have often been viewed as investments with higher risk and lower returns,” Bjørndal tells Norwegian newspaper Aftenposten. “Now the opposite is true,” he emphasizes. “Investors who ignore the sustainability aspects of a business in their investment analysis take the greater risk.” As Bjørndal previously told HedgeNordic, “as capital allocators, we have a social responsibility to make sure that we are not funding unethical or unsustainable businesses.” But more importantly, “it is not only crucial that the companies we own are not hurting the planet and consumers, they have to bring business, societal, and ecological benefits as well.”

CARN Long Short typically maintains a concentrated portfolio of maximum 30 positions, with around 20 names on the long side and ten names on the short side. Over time, the fund maintains a net market exposure between 60 and 80 percent. CARN Long Short has “an expanded toolbox compared to traditional funds, which has helped us perform well during periods of falling markets,” Bjørndal tells Aftenposten. The Oslo-based long/short fund gained about three percent year-to-date through mid-April. CARN Long Short has generated an annualized return of 10.4 percent since launching in late 2015.

Despite successfully reaping the benefits of its expanded toolkit, “the most important thing for us is to be long-term and good owners of medium-sized companies in the Nordic countries,” Bjørndal tells Aftenposten. The soon-to-be-launched long-only equity fund will embrace the same philosophy.

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

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

Latest Articles

Mapping the Finnish Hedge Fund Landscape

Beyond operating as a media platform, HedgeNordic maintains an extensive database of Nordic hedge funds and related data. Although the data is not without...

Quirky Questions for Serge Houles (Tidan Capital)

Not every conversation in the hedge fund world needs to revolve around alpha, Sharpe ratios, or fund flows. In the ongoing Quirky Questions series,...

Quirky Questions for Mette Østerbye Vejen (Caba Capital)

Not every conversation in the hedge fund world needs to revolve around alpha, Sharpe ratios, or fund flows. In the ongoing Quirky Questions series,...

Solid First-Half Finish for Nordic Hedge Funds

Nordic hedge funds wrapped up the first half of the year on a solid note, delivering an average gain of 1.4 percent in June....

Brevan Howard Winds Down Volatility Fund Managed by Ville Helske

Brevan Howard Asset Management is winding down a volatility-focused hedge fund run by high-profile Finnish portfolio manager Ville Helske. Helske, formerly Head of Allocation...

Ymer to Launch Fourth CLO Fund with Proven Strategy and Structure

Building on the track record of three previous credit funds, Swedish alternative credit specialist Ymer SC AB is preparing to roll out its fourth...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.