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Investment process

Idea Generation

Ideas are sourced from:

  • Screening companies for low valuations primarily on Oslo Børs
  • Newsweb, trade publications
  • Contacts, newspapers, Bloomberg
  • Other investors/fund managers

Fundamental Research

Potential investment cases are evaluated through:

  • Fundamental company research
  • Comprehensive financial modeling based on our own assumptions
  • Evaluating management through meetings, webcasts and/or reading

Portfolio Management

Portfolio management is key:

  • The companies we own are most important and hence followed closely
  • Investment thesis constantly revisited and retested
  • Portfolio companies no longer trading at discounts or with a deteriorating investment thesis are sold

Portfolio construction

The portfolio is constructed using the following principles:

  • Bottom-up focus on best ideas
  • Typically 10 - 18 companies
  • Sector diversification based on available investment cases
  • Liquidity and risk assessments