Stockholm (HedgeNordic) – Truepenny Capital Management has received authorization as an investment firm and obtained license as a portfolio manager from the Swedish financial regulator, Finansinspektionen, marking a significant step towards the upcoming launch of its macro hedge fund. Founded by Thomas Orbert, a former portfolio manager at Swedish hedge fund Nektar, Truepenny is preparing the launch of Truepenny Global Macro in the second quarter of 2024.
With guidance and support from Harvest Advokatbyrå, Truepenny Capital Management secured the portfolio manager license from the Swedish Financial Supervisory Authority on April 17, enabling it to manage Truepenny Global Macro. “We would like to thank Harvest for their thorough work and dialogue,” comments Truepenny’s CEO, Thomas Lönnerstam (pictured).
“Truepenny Global Macro is using an absolute return strategy focusing on stable risk and inflation. The objective is for the returns to have a low correlation with other asset classes, including other hedge funds.”
Thomas Lönnerstam, CEO of Truepenny
Having previously served as a portfolio manager at Swedish hedge fund manager Nektar Asset Management for nearly seven years, Thomas Orbert established Truepenny Capital Management with the aim of managing an absolute return strategy built upon three key pillars: systematic dynamic asset allocation, systematic relative value, and discretionary macro with a particular emphasis on inflation risks. “Truepenny Global Macro is using an absolute return strategy focusing on stable risk and inflation,” explains Lönnerstam. “The objective is for the returns to have a low correlation with other asset classes, including other hedge funds.”
In preparation for the upcoming launch of its macro fund, Sweden-based Truepenny Capital Management appointed Fredrik Sundvall as Chief Technology Officer (CTO) and portfolio manager at the outset of 2024. Sundvall will collaborate closely with Thomas Orbert, the founder and Chief Investment Officer (CIO) of Truepenny, in overseeing the soon-to-be-launched Truepenny Global Macro fund.
