Meriti Neutral

Meriti Capital AB

Strategy Description

Meriti Neutral operates as a market-neutral fund, aiming to achieve positive absolute returns. The fund directly or via derivative instruments holds long positions in individual securities assessed to exhibit strong performance or undervaluation and at the same time establishes short positions, primarily through derivative instruments, in securities anticipated to underperform or deemed overvalued. A relatively even distribution of long and short investments results in a net market exposure close to zero. The fund can also invest in interest-bearing instruments and financial indices. Overall, Meriti Neutral is designed with the primary objective of generating a positive absolute return.

Fund Information

General Information

NHX CategoryEquities
NHX CountrySweden
Legal StructureUCITS
Fund DomicileSweden
Minimum Investment1,000 SEK
AUM -
Inception DateDec 2023
Management Fee1.20%
Performance Fee20% over OMRX Treasury Bill
SFDR Classification -

Company Information

CompanyMeriti Capital AB
Investor RelationsMagnus I H Jansson
AddressNorrlandsgatan 14
Stockholm, 114 43
Phone+46 31 83 13 30
E-mail[email protected]
Websitewww.meriticapital.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 1.40 0.97 1.16 0.91 0.56 0.86 -0.20 -0.26 -0.27 0.44 -1.57 4.03
2023 -0.27 -0.27

Portfolio Managers

Ola Björkmo, CEO and Partner at Meriti Capital, holds a Bachelor’s degree in business administration and economics from the Stockholm School of Economics and has been working in the financial market since 1986. From 2010 to 2023, he served as CEO and manager at QQM Fund Management. Between 2005 and 2009, he was CEO of Öhman Kapitalförvaltning, and from 2000 to 2005, a founder and manager of the hedge fund Manticore at Brummer & Partners. Before that, he held several roles in the Öhman group, first as head of quantitative analysis and then head of asset management.

Jonas Sandefeldt, Head of Systematic Fund Management and Partner, holds a Master’s degree in technical physics from the KTH Royal Institute of Technology and also studied economics at Stockholm University. Sandefeldt has worked in the financial market since 1998, including as a quantitative analyst at the 1-3 AP-fonden and at Brummer & Partners. Between 2006 and 2010, Jonas Sandefeldt worked as a portfolio manager and analyst at Öhman, with a particular focus on quantitatively driven investment strategies. Between 2010 and 2023, he managed the QQM Equity Hedge fund at QQM Fund Management.

Gustav Andåker, Head of Discretionary Fund Management and Partner, has a Master’s degree in economics from the Gothenburg School of Economics. Since 2008, Andåker has worked as a portfolio manager and senior portfolio manager at Loft Investments, Consensus Asset Management and SIP Nordic Fondkommission. He used to manage global allocation mandates, and from 2020 to 2022, he was a partly responsible manager for the Vinga Corporate Bond fund.

Hans Turitz, Fund Manager and Partner, holds a B.A. from Middlebury College, USA. He worked as a Market Maker in Australian shares at Jacksons Limited and as a securities broker at Merrill Lynch in London. Turitz has extensive experience in strategy development, focusing on technical momentum analysis of shares. Turitz also used to manage a mixed fund under Skandia Life, a foreign hedge fund, and served as a board member in Swedish securities companies.

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 -1.86% 5 0 07/2024 -
2 -0.27% 1 1 12/2023 01/2024
3 - - - - -
4 - - - - -
5 - - - - -

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return-0.47%-0.17%0.31% - -
% Positive33.33%33.33%58.33% - -
Avg. Pos. Period0.44%0.65%0.90% - -
Avg. Neg. Period-0.92%-0.58%-0.51% - -
Sharpe Ratio-1.94-0.771.33 - -
Sortino Ratio-1.77-0.882.24 - -
Monthly Volatility0.83%0.75%0.81% - -

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 1.40%-1.57%0.31%0.50%-1.57%58.33%
3 Months 3.57%-1.40%1.31%1.66%-1.40%70.00%
6 Months 6.00%-1.01%2.84%3.05%-1.01%85.71%
1 Year 3.75%3.75%3.75%3.75%3.75%100.00%
2 Years ------
3 Years ------
5 Years ------

Volatility (12 Months Rolling)

Chart not applicable - performance history is less than 12 months

CORRELATION (12 MONTH ROLLING)

AUM (EUR)

Chart not applicable - The program has no AUM data

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

Meriti Neutral operates as a market-neutral fund, aiming to achieve positive absolute returns. The fund directly or via derivative instruments holds long positions in individual securities assessed to exhibit strong performance or undervaluation and at the same time establishes short positions, primarily through derivative instruments, in securities anticipated to underperform or deemed overvalued. A relatively even distribution of long and short investments results in a net market exposure close to zero. The fund can also invest in interest-bearing instruments and financial indices. Overall, Meriti Neutral is designed with the primary objective of generating a positive absolute return.

Fund Information

General Information

NHX CategoryEquities
NHX CountrySweden
Legal StructureUCITS
Fund DomicileSweden
Minimum Investment1,000 SEK
AUM -
Inception DateDec 2023
Management Fee1.20%
Performance Fee20% over OMRX Treasury Bill
SFDR Classification -

Company Information

CompanyMeriti Capital AB
Investor RelationsMagnus I H Jansson
AddressNorrlandsgatan 14
Stockholm, 114 43
Phone+46 31 83 13 30
E-mail[email protected]
Websitewww.meriticapital.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 1.40 0.97 1.16 0.91 0.56 0.86 -0.20 -0.26 -0.27 0.44 -1.57 4.03
2023 -0.27 -0.27

Portfolio Managers

Ola Björkmo, CEO and Partner at Meriti Capital, holds a Bachelor’s degree in business administration and economics from the Stockholm School of Economics and has been working in the financial market since 1986. From 2010 to 2023, he served as CEO and manager at QQM Fund Management. Between 2005 and 2009, he was CEO of Öhman Kapitalförvaltning, and from 2000 to 2005, a founder and manager of the hedge fund Manticore at Brummer & Partners. Before that, he held several roles in the Öhman group, first as head of quantitative analysis and then head of asset management.

Jonas Sandefeldt, Head of Systematic Fund Management and Partner, holds a Master’s degree in technical physics from the KTH Royal Institute of Technology and also studied economics at Stockholm University. Sandefeldt has worked in the financial market since 1998, including as a quantitative analyst at the 1-3 AP-fonden and at Brummer & Partners. Between 2006 and 2010, Jonas Sandefeldt worked as a portfolio manager and analyst at Öhman, with a particular focus on quantitatively driven investment strategies. Between 2010 and 2023, he managed the QQM Equity Hedge fund at QQM Fund Management.

Gustav Andåker, Head of Discretionary Fund Management and Partner, has a Master’s degree in economics from the Gothenburg School of Economics. Since 2008, Andåker has worked as a portfolio manager and senior portfolio manager at Loft Investments, Consensus Asset Management and SIP Nordic Fondkommission. He used to manage global allocation mandates, and from 2020 to 2022, he was a partly responsible manager for the Vinga Corporate Bond fund.

Hans Turitz, Fund Manager and Partner, holds a B.A. from Middlebury College, USA. He worked as a Market Maker in Australian shares at Jacksons Limited and as a securities broker at Merrill Lynch in London. Turitz has extensive experience in strategy development, focusing on technical momentum analysis of shares. Turitz also used to manage a mixed fund under Skandia Life, a foreign hedge fund, and served as a board member in Swedish securities companies.

Return Statistics

Last Month Return -1.57%
3 Month Return -1.40%
Year to Date Return 4.03%
12 Month Return 3.75%
36 Month Return -
Total Return Annualized 3.75%
Winning Months (%) 58.33%
Average Winning Month 0.90%
Average Losing Month -0.51%
Total Return Cumulative 3.75%

Risk Statistics (12M)

1 Year
Sharpe Ratio1.33
Sortino Ratio2.24
Sterling0.32
Calmar2.02
Skewness-0.98
Kurtosis1.54
Maximum Drawdown-1.86%
Correlation vs S&P 500-0.31
Annualized Volatility2.81%
Annualized Down. Deviation1.83%

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 -1.86% 5 0 07/2024 -
2 -0.27% 1 1 12/2023 01/2024
3 - - - - -
4 - - - - -
5 - - - - -

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return-0.47%-0.17%0.31% - -
% Positive33.33%33.33%58.33% - -
Avg. Pos. Period0.44%0.65%0.90% - -
Avg. Neg. Period-0.92%-0.58%-0.51% - -
Sharpe Ratio-1.94-0.771.33 - -
Sortino Ratio-1.77-0.882.24 - -
Monthly Volatility0.83%0.75%0.81% - -

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 1.40%-1.57%0.31%0.50%-1.57%58.33%
3 Months 3.57%-1.40%1.31%1.66%-1.40%70.00%
6 Months 6.00%-1.01%2.84%3.05%-1.01%85.71%
1 Year 3.75%3.75%3.75%3.75%3.75%100.00%
2 Years ------
3 Years ------
5 Years ------

Volatility (12 Months Rolling)

Chart not applicable - performance history is less than 12 months

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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