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Calculo Strengthens Shareholder Base

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Stockholm (HedgeNordic) – Institutional investors allocating capital to external managers focus on track records, with most asset management decisions centering on the three-year track record. Soon after his commodity-focused trend-following fund surpassed the three-year milestone, Philip Engel Carlsson has onboarded a new group of shareholders in Calculo Capital and new investors into his fund, Calculo Evolution Fund.

The new group of shareholders and investors include Klaus Rud Sejling, former A.P. Møller Maersk Executive and currently CEO and investor in DANX, Henrik Henriksen, former Chief strategist in Velliv and PFA, and Ole Sloth Hansen, Head of Commodity Strategy in Saxo Bank. “Klaus Rud Sejling has taken the seat as Chairman of the Board, and will be an important asset in the future growth and strategy of Calculo,” Carlsson comments on the former A.P. Møller Maersk Executive chairing Calculo Capital’s board. “Henrik Henriksen has bought into Calculo, bringing vast experience from the institutional space. We can benefit from his institutional experience and his global macro insight,” continues Carlsson.

“Klaus Rud Sejling has taken the seat as Chairman of the Board, and will be an important asset in the future growth and strategy of Calculo.”

Carlsson, who started trading commodities at Saxo Bank in 2004, goes on to say that Ole Sloth Hansen, the Saxo Bank Head of Commodity Strategy who is joining as a shareholder in Calculo Capital, is “one of the most cited commodity specialists globally.” Ole Sloth Hansen “knows every corner of the commodity space, ranging from fundamentals to technical views,” according to Carlsson. “We very much look forward to utilizing this insight as part of our investor team.”

Calculo Capital has received continued support from its longer-term partners. “Our long term board member of Calculo Evolution Fund, Thomas Holst Laursen, Chairman and partner in Plesner, has bought into Calculo via a family trust and will continue his support to Calculo,” says Carlsson. The founder of Calculo Capital and main architect of the strategy powering Calculo Evolution Fund is also thankful for the long-term commitment of Steen Jakobsen, the Saxo Bank CIO who has been part of Calculo’s advisory board since 2018, Jana Benesova, Former Head of Global Credit Trading at LGT, Stone Milliner and Moore Capital, Ulrich Peer Jespersen, former CEO of Finansbanken and SparLolland.

“The shareholder and investor base around Calculo is stronger than ever before and we are all excited to use the combined brainpower to take Calculo to the next level.”

“The shareholder and investor base around Calculo is stronger than ever before and we are all excited to use the combined brainpower to take Calculo to the next level,” says Philip Engel Carlsson, who oversees Calculo Evolution Fund out of the Charlottenlund region of Denmark. The commodity-focused trend-following fund has delivered an annualized return of 4.7 percent since launching in August 2018, exhibiting a negative 0.03 correlation with the MSCI World and a positive 0.03 correlation with the S&P 500.

“We have had a decent journey since launch, with the exception of 2021, where we struggled a bit to gain altitude,” Carlsson comments on the fund’s journey so far. Calculo Evolution Fund enjoyed strong performance in the first quarter of this year, with the fund up 9.7 percent in the first three months of 2022. “The first quarter of 2022 is stronger than ever before,” says Carlsson. “We have seen heavy activity across commodities, which have helped get some very strong entry signals.”

“The first quarter of 2022 is stronger than ever before. We have seen heavy activity across commodities, which have helped get some very strong entry signals.”

“However, commodities are a volatile asset class, which highlights the importance of the adaptive and risk-oriented strategy of Calculo Evolution Fund,” continues Carlsson. Calculo Evolution Fund relies on a two-faced trading model that utilizes a systematic approach for entry and a combination of systematic and machine learning for exiting positions. “This approach is giving us a much more adaptive trading dynamic and helps us lock in trading gains and cut non-event trades, from becoming full stop-outs,” says Carlsson.

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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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