Stockholm (HedgeNordic) – Danish entrepreneur, author and investor Lars Tvede is launching his hedge fund Atlas Global Macro, expecting to manage DKK 1.5 billion right from the onset. “The wait is over and Atlas Global Macro is live,” writes Tvede, a Dane living out of Switzerland. “We expect to start with around DKK 1.5 billion under management, which we consider a very good start, and we look forward to creating value for all investors who have shown both confidence and patience so far.”
“We expect to start with around DKK 1.5 billion under management, which we consider a very good start, and we look forward to creating value for all investors who have shown both confidence and patience so far.”
“Atlas Global Macro is a global macro-focused fund based on themes, employing a long-term-oriented and directional approach with an overlay of a tactical approach,” as previously explained by Tvede, who co-founded several ventures such as forecasting company Supertrends and authored 17 books on business cycles, psychology, trading psychology and other topics. “I spend a lot of time thinking about the next big theme driving financial markets,” the Dane told HedgeNordic. “Getting the big theme right is 90 percent of success. The last ten percent, the actual execution, is the smaller part.”
“Atlas Global Macro is a global macro-focused fund based on themes, employing a long-term-oriented and directional approach with an overlay of a tactical approach.”
One of the themes Tvede aims to capitalize on when running Atlas Global Macro is the rotation from growth to value stocks. “I am very focused on value stocks. They have fallen extremely far back in price relative to growth stocks,” Tvede tells Euroinvestor. “Now value stocks have risen somewhat, but there is plenty of room for value stocks to continue upwards.” According to Tvede, financial companies, mining companies, telecommunications operators and suppliers of materials to the construction industry are trading at very attractive valuations relative to fundamentals. “Those parts of the stock market are historically cheap compared to the rest of the market. They have fallen so far behind in valuation that there can easily be several years of potential” before reaching more fair valuations.
“I am very focused on value stocks. They have fallen extremely far back in price relative to growth stocks.”
About 1,100 investors have pledged to invest a combined DKK 1.5 billion into Tvede’s fund, with the next subscription date set on June 2. “Commitments come in all the time, and you can easily come in later,” Tvede tells Euroinvestor. “I myself expect to invest around DKK 200 million over the next three years. I invest them as I get it released from my illiquid investments.”
“For the last 20 years at least, there have been people regularly asking me why I am not starting a fund,” Tvede told HedgeNordic earlier this year about the decision to launch Atlas Global Macro. “I have been thinking about launching a fund several times, but I was always doing something else,” he added. “However, I was also approached in Switzerland by a firm that has the permission to run funds in Switzerland, so they could help me with the infrastructure. For once, I found that the timing and the team was just right.”
