Protean Select

Protean Funds Scandinavia AB

Strategy Description

Protean Select is a long-biased equity hedge fund focusing on the Nordic markets. Over time, the fund will maintain positive net exposure to the Nordic stock market and a predominance of small and medium-sized companies. The fund may short, either via negative exposure to indices and individual financial instruments. Protean Select does not follow any index, but the goal is to generate a good long-term absolute return regardless of market climate, normally with a lower standard deviation than a broad Nordic equity index. The investment strategy involves identifying investment situations with an asymmetric risk-return profile. The portfolio managers base their assessments on fundamental analysis, meetings with company representatives, external analysis, suppliers, market climate and ownership structure analysis, among others.

Fund Information

General Information

NHX CategoryEquities
NHX CountrySweden
Legal StructureSwedish Special Fund
Fund DomicileSweden
Minimum Investment50,000 SEK
AUM800M SEK
Inception DateMay 2022
Management Fee1.20%
Performance Fee20% above SSVX90+4%
SFDR Classification -

Company Information

CompanyProtean Funds Scandinavia AB
AddressNybrogatan 34
Stockholm, 114 39
Phone+46 73 866 77 50
E-mail[email protected]
Websitewww.proteanfunds.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.98 0.25 3.23 -0.18 3.71 0.90 0.31 1.43 11.07
2023 2.64 0.81 -1.23 1.79 -2.05 -0.05 -0.05 -1.31 -1.56 -0.22 2.38 3.28 4.33
2022 2.42 -1.23 2.86 -0.82 -2.11 3.78 2.52 1.25 8.83

Portfolio Managers

Pontus Dackmo, CEO and Investment Manager, has 18 years of experience working professionally with Nordic equities. He holds a Bsc in Economics and a Bsc in Political Science from Umeå University. His previous roles include Head of Equities at Danske Bank UK, Portfolio Manager and Healthcare analyst at Nordea Asset Management, International Institutional sales at SEB, ABG and Nordea.

Investment Manager Carl Gustafsson has 18 years of experience working professionally with Nordic equities. Most recently he worked as a Portfolio Manager of a SEK 10 billion+ Swedish small-cap fund at Didner & Gerge. Relevant previous experience includes small-cap Industrials Analyst, Head of Investor Relations at Hexagon and financial journalist. He holds a Master of Finance from Handelshögskolan i Göteborg.

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.

Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 MONTH ROLLING ROR Return

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -5.15% 6 2 05/2023 12/2023
2 -2.91% 2 1 08/2022 10/2022
3 -1.23% 1 1 06/2022 07/2022
4 -1.23% 1 1 03/2023 04/2023
5 -0.18% 1 1 04/2024 05/2024

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return0.88%1.56%1.20%0.84% -
% Positive100.00%83.33%75.00%62.50% -
Avg. Pos. Period0.88%1.92%1.83%1.95% -
Avg. Neg. Period - -0.18%-0.66%-0.97% -
Sharpe Ratio6.663.772.671.68 -
Sortino Ratio0.0073.379.033.75 -
Monthly Volatility0.46%1.44%1.57%1.76% -

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 3.78%-2.11%0.85%0.85%1.43%60.71%
3 Months 7.73%-3.07%2.50%2.98%2.66%73.08%
6 Months 11.74%-5.15%4.98%5.13%9.71%78.26%
1 Year 15.34%2.07%7.36%6.53%15.34%100.00%
2 Years 22.52%18.44%20.51%19.93%22.19%100.00%
3 Years ------
5 Years ------

Volatility (12 Months Rolling)

CORRELATION (12 MONTH ROLLING)

AUM (EUR)

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.

Strategy Description

Protean Select is a long-biased equity hedge fund focusing on the Nordic markets. Over time, the fund will maintain positive net exposure to the Nordic stock market and a predominance of small and medium-sized companies. The fund may short, either via negative exposure to indices and individual financial instruments. Protean Select does not follow any index, but the goal is to generate a good long-term absolute return regardless of market climate, normally with a lower standard deviation than a broad Nordic equity index. The investment strategy involves identifying investment situations with an asymmetric risk-return profile. The portfolio managers base their assessments on fundamental analysis, meetings with company representatives, external analysis, suppliers, market climate and ownership structure analysis, among others.

Fund Information

General Information

NHX CategoryEquities
NHX CountrySweden
Legal StructureSwedish Special Fund
Fund DomicileSweden
Minimum Investment50,000 SEK
AUM800M SEK
Inception DateMay 2022
Management Fee1.20%
Performance Fee20% above SSVX90+4%
SFDR Classification -

Company Information

CompanyProtean Funds Scandinavia AB
AddressNybrogatan 34
Stockholm, 114 39
Phone+46 73 866 77 50
E-mail[email protected]
Websitewww.proteanfunds.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.98 0.25 3.23 -0.18 3.71 0.90 0.31 1.43 11.07
2023 2.64 0.81 -1.23 1.79 -2.05 -0.05 -0.05 -1.31 -1.56 -0.22 2.38 3.28 4.33
2022 2.42 -1.23 2.86 -0.82 -2.11 3.78 2.52 1.25 8.83

Portfolio Managers

Pontus Dackmo, CEO and Investment Manager, has 18 years of experience working professionally with Nordic equities. He holds a Bsc in Economics and a Bsc in Political Science from Umeå University. His previous roles include Head of Equities at Danske Bank UK, Portfolio Manager and Healthcare analyst at Nordea Asset Management, International Institutional sales at SEB, ABG and Nordea.

Investment Manager Carl Gustafsson has 18 years of experience working professionally with Nordic equities. Most recently he worked as a Portfolio Manager of a SEK 10 billion+ Swedish small-cap fund at Didner & Gerge. Relevant previous experience includes small-cap Industrials Analyst, Head of Investor Relations at Hexagon and financial journalist. He holds a Master of Finance from Handelshögskolan i Göteborg.

Return Statistics

Last Month Return 1.43%
3 Month Return 2.66%
Year to Date Return 11.07%
12 Month Return 15.34%
36 Month Return -
Total Return Annualized 10.45%
Winning Months (%) 60.71%
Average Winning Month 2.03%
Average Losing Month -0.98%
Total Return Cumulative 26.10%

Risk Statistics (12M)

1 Year
Sharpe Ratio2.67
Sortino Ratio9.03
Sterling1.30
Calmar8.60
Skewness0.16
Kurtosis-0.28
Maximum Drawdown-1.78%
Correlation vs S&P 5000.73
Annualized Volatility5.44%
Annualized Down. Deviation2.23%

Risk/Return Comparison

Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 MONTH ROLLING ROR Return

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -5.15% 6 2 05/2023 12/2023
2 -2.91% 2 1 08/2022 10/2022
3 -1.23% 1 1 06/2022 07/2022
4 -1.23% 1 1 03/2023 04/2023
5 -0.18% 1 1 04/2024 05/2024

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return0.88%1.56%1.20%0.84% -
% Positive100.00%83.33%75.00%62.50% -
Avg. Pos. Period0.88%1.92%1.83%1.95% -
Avg. Neg. Period - -0.18%-0.66%-0.97% -
Sharpe Ratio6.663.772.671.68 -
Sortino Ratio0.0073.379.033.75 -
Monthly Volatility0.46%1.44%1.57%1.76% -

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 3.78%-2.11%0.85%0.85%1.43%60.71%
3 Months 7.73%-3.07%2.50%2.98%2.66%73.08%
6 Months 11.74%-5.15%4.98%5.13%9.71%78.26%
1 Year 15.34%2.07%7.36%6.53%15.34%100.00%
2 Years 22.52%18.44%20.51%19.93%22.19%100.00%
3 Years ------
5 Years ------

Volatility (12 Months Rolling)

CORRELATION (12 MONTH ROLLING)

AUM (EUR)

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.

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Data and information is provided for informational purposes only. Past performance is not necessarily indicative of future results.

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