About Excalibur Asset Management AB
Rising inflation, concerns regarding the pandemic and uncertainty on the stock market. It might be time to reduce risk and protect your assets when the entire financial market is in a state of flux. More and more people are recognizing that Excalibur offers a safe haven.
Net Sales 2022
: SEK 19 m
: Johan Andersson
According to the investment magazine Placeringsguiden, Excalibur was the only fund manager among the managers of 99 fixed income funds that delivered a positive return during the year. In an environment characterized by inflation, rapidly rising interest rates and uncertainty, this is something out of the ordinary. One of the reasons for this is an easily adjustable portfolio, which is good in a changing world, but also extensive knowledge of the market and a high level of responsiveness, according to the company’s CEO Thomas Pohjanen.
“The market has been very volatile recently,” he says. “There’s been a great deal of variation in exchange rates and interest rates. Navigating this environment while maintaining risk control has been challenging. The fact that we’re actually ending the year clearly in the black shows that we’ve succeeded in this regard.”
MARKET ‘SOBERING UP’
The economic environment leading up to the pandemic was characterized by zero and negative interest rates. Risky investments have been rewarded. But with recent economic developments, the situation does not look quite the same anymore. “In this kind of economic situation, everyone wants to own risk,” says Thomas Pohjanen.
“In such cases, Excalibur isn’t so attractive. What we’re now entering is a sobering-up phase after the party, with the Riksbank (Swedish central bank) removing the punch bowl. Going forward, investment decisions will be based on a healthier view of the cost of money and risk, which I think is fundamentally a good thing. Long periods of very low interest rates inevitably lead to borrowing excesses that end in tears, bankruptcies and consolidations.”
Over the past three years, Excalibur has had the best return of all fixed income funds in the Nordic region, with the fund growing by 20 percent during the year. The goal is to reach one billion Swedish kronor in assets under management, which could be achieved as early as 2023.
“We’re continuing in the direction we’ve been going in,” says Thomas Pohjanen. “The fund is profitable and we want to grow it further. It’s important to be responsive, and even when we’re wrong, there shouldn’t be a negative return. No two years are the same, so we’re constantly adapting to the current situation.”
Significant events 2022
The only fund out of of 99 fixed-income funds to deliver a positive return in 2022.
Best return of all fixed-income funds in the Nordic region for the third year in a row.
Assets under management increased by 20 percent since 2021.