- Advertisement -
- Advertisement -

Full Focus on Flagship Fund

- Advertisement -

Stockholm (HedgeNordic) – Swedish renewable energy-focused asset manager Proxy P Management is shutting down its market-neutral equity fund, Proxy Long/Short Energy, to fully concentrate on its strong-performing energy transition-focused long/short fund, Proxy Renewable Long/Short Energy. “The energy transition-focused investors we talk with prefer the directional bias to the renewable and energy technology space,” Dan Lindström (pictured), the CEO of Proxy P Management, tells HedgeNordic.

Proxy Long/Short Energy was launched in December of 2018 to invest in the complete spectrum of energy companies, including companies with business operations related to oil, natural gas and renewable energy. Proxy P Management decided to solely focus on the energy transition case last year. Proxy Long/Short Energy was subsequently revamped to fully concentrate on energy transition and exclude exposure to the fossil industry.

“Proxy Renewable Long/Short Energy continues to perform very strongly and we have received a lot of interest in that fund, so that is where we will focus for the time being,” Lindström comments on the decision to close down Proxy Long/Short Energy. Proxy Renewable Long/Short Energy, last year’s second-best performing fund in the Nordic Hedge Index, returned a cumulative 57 percent since December 2018, translating into an annualized return of 33 percent. Launched with $6 million of institutional capital in late 2018, the long-biased long/short equity fund now manages about $25 million.

Proxy Renewable Long/Short Energy currently sits among the top ten best performing hedge funds in the Nordics with a year-to-date net-of-fees return of 16.2 percent through the end of June. The fund managed by CIO Jonas Dahlqvist, sector specialist Hans Berglund and risk analyst and quantitative manager Niklas Hedman was up 13.6 percent in the second quarter after gaining 2.3 percent in the turbulent first quarter. “We added substantially to our net exposure during the selloff in March,” wrote the team at Proxy P Management in a letter to investors. The increased exposure paid off in the second quarter. “We based this call on our view that the long-term growth trajectory for the sector is intact, despite the current recessionary environment,” the team added.

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

First Non-Swedish Family Office Investment for Protean Small Cap

Stockholm (HedgeNordic) – About one year after the successful launch of their long/short equity fund Protean Select, Pontus Dackmo and Carl Gustafsson introduced a...

Atlant Högräntefond Leads Peers on Third Anniversary

Stockholm (HedgeNordic) – Around mid-March 2021, Swedish hedge fund boutique Atlant Fonder launched a UCITS-structured fixed-income fund investing in Nordic corporate bonds, drawing from...

Rhenman Welcomes Brummer & Partners Sales Veteran

Stockholm (HedgeNordic) – After close to 18 years as an institutional sales professional at Brummer & Partners, Tom Josephson is set to join healthcare-focused...

Untapped Potential in Symmetry’s Small-Cap Portfolio

Stockholm (HedgeNordic) – Small-cap-focused hedge fund Symmetry Invest has achieved an annualized return of around 20 percent over the past five years and over...

Navigating Asia-Pacific’s Transition to Sustainable Growth

Stockholm (HedgeNordic) – Emerging markets in the Asia-Pacific region, such as China, India, Indonesia, the Philippines, Thailand and Vietnam, have experienced significant economic expansion...

The Performance of US Equities in Election Years Over the Last Century

By Daniel Ung, Kartik Chawla, and Jędrzej Miklaszewski – SPDR: The 2024 US presidential election is on the horizon, and investors are keen to...

Allocator Interviews

Latest Articles

In-Depth: Emerging Markets

Voices

Request for Proposal

- Advertisement -