Stockholm (HedgeNordic) – Swedish fund boutique Alcur Fonder has hired Peter Guve to oversee trading for the boutique’s assets under management that exceed SEK 11 billion. Guve brings more than 30 years of experience in a trading capacity, having most recently served as a senior portfolio manager and trader at AMF Pension for eight and a half years.
“We are very happy that Peter has chosen to join our team,” the team at Alcur Fonder comments on Peter Guve’s appointment. His employment is initially confirmed for the remainder of this year. Before his tenure at AMF Pension, Guve worked as a trading specialist for more than 25 years. He worked as an equity sales specialist and trader at Alfred Berg Fondkommission for over five years, and in a similar capacity at ABB Aros Fondkommission for nine and a half years until March of 1997.
“We are very happy that Peter has chosen to join our team.”
Alcur Fonder currently manages three funds with a combined SEK 11 billion in assets under management as of the end of May. The boutique’s first fund, Alcur, which held SEK 7.1 billion as of the end of May, received the title of the “Best Nordic Equity Hedge Fund” of 2022 at the Nordic Hedge Award. Alcur, which employs a low-net equity strategy, was up 8.2 percent in 2022 to reach an annualized return of 10.6 percent over the previous three years and a three-year Sharpe ratio of 2.55, the second-highest in the Nordic hedge fund industry during that period. The fund is up 1.7 percent over the first seven months of 2023.
Alcur Fonder’s small-cap-focused long/short equity fund – Alcur Select – was crowned the “Best Nordic Hedge Fund Overall” and “Best Nordic Equity Hedge Fund” of 2021. Led by Wilhelm Gruvberg, the fund achieved an annualized return of 21.6 percent since its launch in May 2018 despite recording a loss of 19.4 percent in 2022. Alcur Select, which manages nearly SEK 3.0 billion, edged up 1.8 percent in the first seven months of 2023. Alcur Fonder also manages a long-only equity fund named Alcur Grow, which maintains a portfolio comprising 25 to 30 Nordic small- and medium-sized public companies.