- Advertisement -
- Advertisement -

CARN Capital Turns to Long-Only Investing

- 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

Leveraging Opportunities in Credit Markets

Stockholm (HedgeNordic) – After several years of successful bond investing through a private investment company, Nicolai Wenckheim launched an alternative investment fund in March...

ATP’s Response to Changing Equity-Bond Correlations

Stockholm (HedgeNordic) – In 2022, the usual negative correlation between equities and bonds, essential for the construction of diversified portfolios, disappeared. This rare anomaly,...

Evolution in Hedge Fund Investing with LGT Collaboration

Stockholm (HedgeNordic) – Since Peter Ragnarsson assumed the role of Head of Alternatives at PRI Pensionsgaranti in 2015, the Swedish pension insurer has significantly...

Borea Expands Sustainability Focus with New Hire

Stockholm (HedgeNordic) – Norwegian fund boutique Borea Asset Management has expanded its management team with the hiring of Iselin Ahmer Solberg as a corporate...

Schroders Strengthens Nordic Client Team

Stockholm (HedgeNordic) – Schroders is expanding its client relationship capabilities in the Nordics with the appointment of Ludvig Löfving as a Client Director. He...

The Lynx Constellation Is Brightening Up

Stockholm (HedgeNordic) – Lynx Asset Management made headlines in late 2019 with the launch of its pure-play machine learning strategy, Constellation, as a standalone...

Allocator Interviews

Latest Articles

Man Institute Insights

Voices

Request for Proposal

- Advertisement -