- Advertisement -

Related

Alcur Select Opens for Fresh Capital

- Advertisement -

Stockholm (HedgeNordic) – The best Nordic hedge fund of 2021, Alcur Select, is re-opening for new subscriptions after being closed to new investors since early 2021. With SEK 3.35 billion under management, the small-cap-focused equity fund managed by Wilhelm Gruvberg is looking to raise an additional SEK 200 million in fresh capital.

Alcur Fonder manages two hedge funds with different risk-reward profiles. Alcur Fonder’s first hedge fund, Alcur, is a low-net long/short equity fund launched in early 2007. Long-biased equity hedge fund Alcur Select, meanwhile, was launched in May 2018. The Stockholm-based asset manager has introduced limited subscriptions in both its hedge funds. “We do this in order to continue to offer our customers the opportunity to subscribe to units in our funds, without risking that the asset volume becomes so large that it inhibits efficient management of the funds,” Alcur Fonder writes in a press release. However, only Alcur Select will be open for new subscriptions.

Alcur Fonder decided to close Alcur Select for new subscriptions in late 2020 after the long-biased small-cap-focused equity hedge fund exceeded SEK 2 billion in assets under management. The fund had SEK 3.35 billion under management at the mid-point of 2022, with the higher level of assets stemming from strong performance. The fund managed by Gruvberg has delivered an annualized return of 26 percent since launching in May 2018 despite incurring a loss of 17 percent over the first ten months of 2022. Alcur Select was crowned the “Best Nordic Hedge Fund Overall” and “Best Nordic Equity Hedge Fund” of 2021 at the Nordic Hedge Award.

Alcur Fonder’s older hedge fund vehicle, Alcur, will not be opened for new subscriptions. Instead, the Swedish asset manager will restrict the issuance of shares just to keep a pre-determined amount of fund units in circulation. The lower-net long/short equity fund launched in early 2007 had SEK 5.88 billion under management at the end of July this year. Alcur gained 7.5 percent over the first ten months of 2022, bringing its annualized return since inception to 5.9 percent. The fund has delivered an average return of 11.5 percent over the previous 36 months ending October.

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

Beyond 60/40: The Case for Liquid, Systematic Diversification

By Bjarne Graven Larsen: For decades during the great moderation, the 60/40 portfolio was the institutional investor's Swiss army knife. Equities grew wealth; bonds...

Aspect Capital’s Evolving Approach to Chinese Futures

Chinese futures in general add substantial diversification benefits to global futures - and the Chinese commodity futures that dominate certain Aspect Capital strategies also...

Systematic Merger Arbitrage in 2026: Why a Rules-based Approach Matters More Than Ever

By Scott Schefrin, Portfolio Manager at AB Hedge Fund Solutions: After a series of slower years for deal activity, merger arbitrage has re-emerged as a compelling strategy...

Not So Lazy Prices

By Liam Hynes, PhD – S&P Global Market Intelligence: Systematic investing has always been a story of expanding information sets. Prices, then fundamentals, then...

The Hidden Beta in LLM Recommendations

By Victor Brassart and Dan Edelstein at Hafnium: As LLMs become useful in coding, copywriting, and even mathematics, it is natural to ask whether...

Edge Hunting Across Eras

“I have always looked for an advantage or an edge in markets, and I still do,” says Peter Warren. Over more than four decades...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -