Elementa

Elementa Management

Strategy Description

Elementa is a niche long/short equity fund, targeting to generate high absolute returns over time independent of general market cycles. The fund specializes in Nordic small and mid-sized companies, both for longs and shorts. Elementa proactively seeks "x factor" opportunities with tangible growth prospects, business model scalability and strong cash flow generation, or the opposite for the short book. The fund leverages a research intense investment approach to identify and develop investment ideas. Elementa's primary focus is equities, but the fund may also opportunistically invest in corporate bonds in situations offering attractive "equity like" return dynamics.

Fund Information

General Information

NHX CategoryEquities
NHX CountrySweden
Legal StructureSwedish Special Fund
Fund DomicileSweden
Minimum Investment50,000 SEK
AUM224M SEK
Inception DateMar 2015
Management Fee1.50%
Performance Fee25% above 5%
SFDR Classification -

Company Information

CompanyElementa Management
Investor RelationsStefan Gavelin
AddressMäster Samuelsgatan 1
Stockholm, 114 44
Phone+46 8 660 02 25
E-mail[email protected]
Websitewww.elementamanagement.se
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 1.10 -3.58 3.92 -2.26 4.65 -0.11 0.66 0.32 -3.12 0.10 6.01 1.84 9.44
2023 1.77 -0.92 -1.27 -2.29 1.14 -1.99 -2.58 0.59 -1.51 1.14 3.40 1.08 -1.62
2022 10.07 5.35 -4.28 7.34 1.54 5.99 -4.47 2.83 3.77 0.30 -7.76 -1.53 19.08
2021 1.88 0.67 2.79 -3.16 -2.08 -4.23 -4.55 0.97 3.58 -4.44 -6.71 -1.19 -15.81
2020 3.50 6.04 1.16 5.12 0.69 1.51 6.83 2.89 -3.39 -4.92 2.51 -2.16 20.80
2019 -0.65 2.34 -1.94 0.24 -0.19 1.93 6.01 -2.13 0.73 1.35 2.59 0.99 11.58
2018 1.53 -0.62 0.85 -4.69 0.32 -0.04 0.77 2.18 0.57 1.59 0.72 -1.21 1.79
2017 0.40 0.65 -1.13 -1.30 0.40 1.05 1.51 0.79 -1.03 -0.81 -0.27 0.26 0.48
2016 -0.10 -0.11 1.67 0.75 0.71 1.05 1.63 1.81 2.92 1.75 0.32 0.70 13.88
2015 0.99 2.57 1.09 0.73 1.01 0.51 0.59 1.27 3.36 2.01 15.02

Portfolio Managers

Marcus Wahlberg is the founder and portfolio manager of Elementa. Prior to that, Wahlberg worked as investment director at Investment AB Öresund, a publicly listed investment company with more than SEK 6.2 billion in assets under management. He also served as the CEO of its subsidiary, Ven Capital, between 2012 and 2014. Between 2008 and 2011, Wahlberg worked at H Lundén Asset Management, the management company of long/short equity hedge fund Eikos, which was later converted into a family office. He also has a background in mergers and acquisitions from Carnegie Investment Banking (2005-2008) and Credit Suisse in London. He holds a Master of Science degree in Finance from the Stockholm School of Economics.

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 -22.44% 16 9 09/2020 09/2022
2 -15.46% 11 0 11/2022 -
3 -4.79% 8 6 09/2017 10/2018
4 -2.41% 2 3 03/2017 07/2017
5 -2.13% 1 3 08/2019 11/2019

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return2.62%0.93%0.75%0.31%0.69%
% Positive100.00%83.33%66.67%58.33%61.11%
Avg. Pos. Period2.65%1.79%2.33%1.98%2.95%
Avg. Neg. Period - -3.12%-2.27%-1.96%-2.69%
Sharpe Ratio3.711.240.960.480.73
Sortino Ratio0.002.541.720.751.18
Monthly Volatility2.48%2.71%2.86%2.44%3.61%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 10.07%-7.76%0.61%0.72%1.84%66.95%
3 Months 15.52%-11.91%1.74%1.87%8.08%66.38%
6 Months 28.22%-14.78%3.46%3.18%5.73%68.14%
1 Year 38.69%-16.64%6.80%6.80%9.44%71.96%
2 Years 48.71%-9.42%12.73%7.66%7.66%84.21%
3 Years 46.19%-12.73%20.34%21.36%28.21%86.75%
5 Years 83.02%16.06%42.71%37.54%30.38%100.00%

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

Elementa is a niche long/short equity fund, targeting to generate high absolute returns over time independent of general market cycles. The fund specializes in Nordic small and mid-sized companies, both for longs and shorts. Elementa proactively seeks "x factor" opportunities with tangible growth prospects, business model scalability and strong cash flow generation, or the opposite for the short book. The fund leverages a research intense investment approach to identify and develop investment ideas. Elementa's primary focus is equities, but the fund may also opportunistically invest in corporate bonds in situations offering attractive "equity like" return dynamics.

Annual Performance

Fund Information

General Information

NHX CategoryEquities
NHX CountrySweden
Legal StructureSwedish Special Fund
Fund DomicileSweden
Minimum Investment50,000 SEK
AUM224M SEK
Inception DateMar 2015
Management Fee1.50%
Performance Fee25% above 5%
SFDR Classification -

Company Information

CompanyElementa Management
Investor RelationsStefan Gavelin
AddressMäster Samuelsgatan 1
Stockholm, 114 44
Phone+46 8 660 02 25
E-mail[email protected]
Websitewww.elementamanagement.se
Social Media

Portfolio Managers

Marcus Wahlberg is the founder and portfolio manager of Elementa. Prior to that, Wahlberg worked as investment director at Investment AB Öresund, a publicly listed investment company with more than SEK 6.2 billion in assets under management. He also served as the CEO of its subsidiary, Ven Capital, between 2012 and 2014. Between 2008 and 2011, Wahlberg worked at H Lundén Asset Management, the management company of long/short equity hedge fund Eikos, which was later converted into a family office. He also has a background in mergers and acquisitions from Carnegie Investment Banking (2005-2008) and Credit Suisse in London. He holds a Master of Science degree in Finance from the Stockholm School of Economics.

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 1.10 -3.58 3.92 -2.26 4.65 -0.11 0.66 0.32 -3.12 0.10 6.01 1.84 9.44
2023 1.77 -0.92 -1.27 -2.29 1.14 -1.99 -2.58 0.59 -1.51 1.14 3.40 1.08 -1.62
2022 10.07 5.35 -4.28 7.34 1.54 5.99 -4.47 2.83 3.77 0.30 -7.76 -1.53 19.08
2021 1.88 0.67 2.79 -3.16 -2.08 -4.23 -4.55 0.97 3.58 -4.44 -6.71 -1.19 -15.81
2020 3.50 6.04 1.16 5.12 0.69 1.51 6.83 2.89 -3.39 -4.92 2.51 -2.16 20.80
2019 -0.65 2.34 -1.94 0.24 -0.19 1.93 6.01 -2.13 0.73 1.35 2.59 0.99 11.58
2018 1.53 -0.62 0.85 -4.69 0.32 -0.04 0.77 2.18 0.57 1.59 0.72 -1.21 1.79
2017 0.40 0.65 -1.13 -1.30 0.40 1.05 1.51 0.79 -1.03 -0.81 -0.27 0.26 0.48
2016 -0.10 -0.11 1.67 0.75 0.71 1.05 1.63 1.81 2.92 1.75 0.32 0.70 13.88
2015 0.99 2.57 1.09 0.73 1.01 0.51 0.59 1.27 3.36 2.01 15.02

Return Statistics

Last Month Return 1.84%
3 Month Return 8.08%
Year to Date Return 9.44%
12 Month Return 9.44%
36 Month Return 28.21%
Total Return Annualized 7.02%
Winning Months (%) 66.95%
Average Winning Month 2.05%
Average Losing Month -2.33%
Total Return Cumulative 94.90%

Risk Statistics (12M)

1 Year
Sharpe Ratio0.96
Sortino Ratio1.72
Sterling0.70
Calmar2.64
Skewness0.27
Kurtosis0.06
Maximum Drawdown-3.58%
Correlation vs S&P 5000.34
Annualized Volatility9.92%
Annualized Down. Deviation4.62%

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 -22.44% 16 9 09/2020 09/2022
2 -15.46% 11 0 11/2022 -
3 -4.79% 8 6 09/2017 10/2018
4 -2.41% 2 3 03/2017 07/2017
5 -2.13% 1 3 08/2019 11/2019

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return2.62%0.93%0.75%0.31%0.69%
% Positive100.00%83.33%66.67%58.33%61.11%
Avg. Pos. Period2.65%1.79%2.33%1.98%2.95%
Avg. Neg. Period - -3.12%-2.27%-1.96%-2.69%
Sharpe Ratio3.711.240.960.480.73
Sortino Ratio0.002.541.720.751.18
Monthly Volatility2.48%2.71%2.86%2.44%3.61%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 10.07%-7.76%0.61%0.72%1.84%66.95%
3 Months 15.52%-11.91%1.74%1.87%8.08%66.38%
6 Months 28.22%-14.78%3.46%3.18%5.73%68.14%
1 Year 38.69%-16.64%6.80%6.80%9.44%71.96%
2 Years 48.71%-9.42%12.73%7.66%7.66%84.21%
3 Years 46.19%-12.73%20.34%21.36%28.21%86.75%
5 Years 83.02%16.06%42.71%37.54%30.38%100.00%

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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