OUR FUNDS

Arctic Fund Management manage eight funds, all with specialized strategies in the Norwegian, Nordic, Global and Life Science Equity markets and Fixed Income market.

On this page you can find detailed information about funds managed by Arctic Fund Management. Please feel free to contact us if you need further information about our funds, or would like to speak to one of our investment professionals.

Feel free to contact us

Department mail

Investment Philosophy

We aim to deliver solid returns to our investors through an active and long-term investment approach. The core of all our investment activities is fundamental company research. In our company research, a fair value analysis is central. A fair value analysis aims to reveal securities that trade significantly higher or lower than what we consider to be the real underlying values. When this occurs, it can create very interesting investment possibilities.

A fair value analysis consists of a range of different factors. Key, of course, is the assessment whether a bond or stock is cheap or not, based on traditional valuation techniques. In addition, we are concerned whether the company has the appropriate management, a good business model and a strategic market position from which it can benefit. We also consider the company in the bigger picture. We analyse the sector the company belongs to, looking for structural changes and how it may be affected by changes in the macroeconomic environment.

Our fair value based investment philosophy gives us flexibility to exploit investment opportunities in different market conditions, and we are not tied to growth or value companies, or whether a company has a large or small market cap. When we research a company, we look for good investments for both our fixed income and equity funds. This is why research is done jointly with analysts from both the fixed income- and equities departments.

Our fund managers and analysts have together over 100 years of experience from analysing and investing in bonds and equities. We benefit from this through a systematic and structured process, seeking to identify good companies and attractive investment possibilities. In this way we create long-term value for our investors.

ESG - Responsible Investing

When we analyze a company, we also evaluate it in a Socially Responsible Investment (SRI) context. Arctic Fund Management is a Signatory of UN PRI, Principles for Responsible Investment, and follows the Norwegian Government Pension Fund Global's socially responsible investments policy in all our funds.

“A focus on responsible investing is not only at the heart of what we do – it is more and more a prerequisite from our clients.” Lisbeth GylandCEO


Read the latest fund news

Click on the links below to jump to articles and news related to our funds

Performance all funds

Arctic Norwegian Equities

An active managed fund within the Norwegian Equity Market

The investment objective of the fund is to achieve long-term capital appreciation and a higher return than the Norwegian equity market. The fund’s investment universe is shares listed on the Oslo Stock Exchange, and consists of approximately 200 investable companies.

We choose shares for Arctic Norwegian Equities through a thorough and systematic process of company analysis. This process gives us an idea of whether a share is cheap or expensive compared to what we think is fair value. In our fair value analysis of a share we examine several different aspects of the company. A traditional valuation analysis is always vital, but we also evaluate factors such as the company's management, its business model and its strategic market position.
We also consider the company in the bigger picture. We evaluate the relevant sector, and whether we can expect structural changes that can affect the company. Macroeconomic developments can also be critical to the company's prospects, as well as changes in general trends in the economy.

Our fair value based investment philosophy gives us flexibility to exploit opportunities that arise in different economic phases, and makes us independent of traditional factors such as large versus small companies, and growth versus value companies.
Arctic Norwegian Equities is designed to achieve long-term capital appreciation, and at the same time be well diversified. So if we find a new share in which we want to invest, we will always compare it to the existing shares in the portfolio. We consider whether the new share is to replace one of the current holdings or be an addition to the portfolio. The aim is that the fund at any time shall be invested in what we consider to be the most promising companies, and that the portfolio is both diversified and robust.

-> Read more about the latest news from Arctic Norwegian Equities

Arctic Norwegian Equities - Factsheet and Comments

Arctic Norwegian Equities II

A fund within the Norwegian Equity Market which is actively managed based on Solsten’s time-tested investment approach

The fund is research driven and truly index-independent. The investment process focus on identifying companies which are considered to be value-creating over time at a reasonable price. The portfolio is constructed by bottom up stock picking. There are no constraints regarding sectors and the goal is to create the best portfolio possible at any time.

The Fund is a UCITS fund while the reference index is Oslo Stock Exchange Mutual Fund Index (OSEFX).

-> Read more about the latest news from Arctic Norwegian Equities II

Arctic Norwegian Equities II - Factsheet and Comments

Arctic Nordic Equities

A fund within the Nordic Equity Market which is actively managed based on Solsten’s time-tested investment approach

The fund is research driven and truly index-independent. The investment process focus on identifying companies which are considered to be value-creating over time at a reasonable price. The portfolio is constructed by bottom up stock picking. There are no constraints regarding country or industry in the Nordic region, and the goal is to create the best portfolio possible at any time.

The Fund is a UCITS fund, while the reference index is  VINX Index calculated in Norwegian kroner.

.-> Read more about the latest news from Arctic Nordic Equities

Arctic Nordic Equities - Factsheet and Comments

Arctic Aurora LifeScience

Capturing the value in healthcare innovation

Arctic Aurora LifeScience is a specialized global healthcare fund investing primarily in public life science companies with a focus on Europe and the US.

The team consists of experienced health care specialists with excellent track records from investing in the public life science sector and with outstanding scientific and industrial expertise. Through active portfolio management, the fund offers investors unique exposure to growth in the biotech and pharmaceutical industries. The strategy is focused on achieving an excess return from investments in the biotech sector complemented by investments in larger companies such as global pharmaceutical companies. 

Investing in biotech and drug development in general requires a deep understanding of biology, as well as the functions of the regulatory and commercial part of drug development, i.e. clinical studies and the dynamics between smaller biotech companies and the larger pharmaceutical companies that fund the later stages of development and thereby contribute to value creation. Arctic Aurora LifeScience conducts active portfolio management with a focus on listed biotech companies supplemented by larger global pharmaceutical companies in both the US and EU.

The investment philosophy of Arctic Aurora LifeScience is to build a portfolio of successful companies in the life science sector, based on a thorough due diligence process. Such due diligence review is a combination of top down studies, where the therapeutic areas of medical and commercial interest are selected, and bottom up work, where the universe is screened for companies owning leading science within the selected therapeutic areas. A deep analysis of these companies is then undertaken with the aim of finding the best investment opportunities. To maximize risk/reward we only invest in companies with good clinical data. We do not invest in early stage biotech prior to clinical development in patients. Close contact with company management teams is essential and contacts are regularly followed up.

The portfolio is constructed in relation to risk and expected return, with the aim of building a diversified portfolio of approximately 40-60 holdings.

-> Read more about the latest news from Arctic Aurora LifeScience

Arctic Aurora LifeScience - Factsheet and Comments

Arctic Global Equities

Arctic Global Equities will invest in value creating companies Globally

Arctic Global Equities invests in value-creating companies globally. The investment objective of the fund is to achieve long-term capital appreciation and a higher return than the global equity markets.

The global stock market consists of thousands of companies, and we can find attractive investments in various sectors and regions. Our analysis of the global economy is the starting point of many of our best investment ideas. The investment ideas can be directly related to economic factors such as different growth outlooks and cyclical fluctuations between countries and regions. In addition, political and social trends can influence sectors and companies differently.

When we have identified a particularly interesting investment theme within a sector or region, we conduct a quantitative screening to find potential companies for the fund. We use both internal and external screening models in this process.
The most promising shares then go through a thorough and systematic research process. This process gives us an idea of whether a share is cheap or expensive compared to what we think is fair value. In our fair value analysis of a share we examine several different aspects of the company. A traditional valuation analysis is always vital, but we also evaluate factors such as the company’s management, its business model and its strategic market position. This fair value analysis forms the basis for selecting shares for Arctic Global Equities.

Arctic Global Equities is designed to achieve long-term capital appreciation, and at the same time be well diversified. The aim is that the fund at any time shall be invested in what we consider to be the most promising companies, and that the portfolio is both diversified and robust.

-> Read more about the latest news from Arctic Global Equities

Arctic Global Equities - Factsheet and Comments

Arctic High Return

A bond fund with a focus on creating a high absolute return by investing in Nordic high yield bonds. The fund's credit risk is high, but the duration range is short to medium. The Fund will invest in various sectors and obtain a well-diversified portfolio.

Arctic High Return is a Nordic bond fund with a focus on creating a high absolute return by investing in a diversified portfolio of high yield bonds.

Our core competence in credit research is within the Nordic markets, and our fixed income team has extensive experience from analysing companies and managing bond portfolios from these markets. The Nordic bond market is diversified and offers good investment opportunities in many sectors and from different issuers. Arctic High Return will mainly invest in bonds issued by Nordic companies.

Fundamental research is core to all fixed income portfolio management in Arctic Fund Management. Before we decide to invest in a bond we conduct a thorough credit analysis. We typically look into the economic development of the issuer and its financial solidity, the bonds' ranking within the capital structure and the covenants. We also consider the sector the issuer belongs to, and how macroeconomic developments can affect the issuer. When we find a new bond in which we want to invest, we will always compare it to the existing bonds in the portfolio. We consider whether the new bond is to replace one of the current holdings or be an addition to the portfolio. The aim is that the fund at any time shall deliver attractive returns and be both diversified and robust. When we invest in bonds issued in other currencies than NOK we always hedge the currency risk.

Arctic High Return can invest in fixed income instruments along the yield curve, but the average interest rate duration will not exceed three years. The average credit duration can be between 0 and 5 years.

-> Read more about the latest news from the Arctic Fixed Income Team

Arctic High Return - Factsheet and Comments

Arctic Return

The fund is a short bond fund with medium credit risk and a shortduration. The Fund invests in various Nordic bonds and money market instruments, with a focus on delivering attractive returns and capital preservation.

Arctic Return is a Nordic bond fund with a focus on creating attractive an absolute return by investing in a diversified portfolio of investment grade and high yield bonds. The fund aims to deliver an annaual return of one to three percent higher than the Norwegian money market rate. Arctic Return shall be a good alternative to traditional money market and bond funds and bank accounts as a means of long-term saving.

Arctic Return will invest in a diversified portfolio of bonds and money market instruments, where most will be issued in the Nordic markets. The fund will be invested as to at least 70% in investment grade bonds, but up to 30% may be in high yield bonds. Investments in high yield bonds will preferably be from the most solid segments of the market, and from issuers we believe will give a positive contribution to the portfolio return. When we find a new bond in which we want to invest, we will always compare it to the existing bonds in the portfolio. We consider whether the new bond is to replace one of the current holdings or be an addition to the portfolio. The aim is that the fund at any time shall deliver attractive returns and be both diversified and robust. When we invest in bonds issued in other currencies than NOK we always hedge the currency risk.

Arctic Return can invest in fixed income instruments along the yield curve, but the average interest rate duration will not exceed one year. The average credit duration can be between 0 and 4 years.

-> Read more about the latest news from Arctic Return

Arctic Return - Factsheet and Comments

Arctic Investment Grade

Arctic Investment Grade is a bond fund with a wide duration range and a moderate credit risk. The Fund only invests in "investment grade" bonds and money market instruments, mainly in the Norwegian and Nordic markets

Arctic Investment Grade is a Nordic bond fund with a focus on creating an attractive absolute return by investing in a diversified portfolio of investment grade bonds.

Our core competence in credit research is within the Nordic markets, and our fixed income team has extensive experience from analysing companies and managing bond portfolios from these markets. The Nordic bond market is diversified and offers good investment opportunities in many sectors and from different issuers. Arctic Investment Grade will mainly invest in bonds issued by Nordic companies.

Fundamental research is core to all fixed income portfolio management in Arctic Fund Management. Before we decide to invest in a bond we conduct a thorough credit analysis. We typically look into the economic development of the issuer and its financial solidity, the bonds' ranking within the capital structure and the covenants given. We also consider the sector the issuer belongs to, and how macroeconomic included can affect the issuer.

When we find a new bond in which we want to invest, we will always compare it to the existing bonds in the portfolio. We consider whether the new bond is to replace one of the current holdings or be an addition to the portfolio. The aim is that the fund at any time shall deliver attractive returns and be both diversified and robust. When we invest in bonds issued in other currencies than NOK we always hedge the currency risk.

Arctic Investment Grade can invest in fixed income instruments along the yield curve, but the average interest rate duration and credit duration will not exceed five years.

-> Read more about the latest news from the Arctic Fixed Income Team

Arctic Investment Grade - Factsheet and Comments

Investment Team Oslo

Albert Collett

CIO

Mobile: 92890041
Office: 21013250

20 years relevant work experience in fund management. Albert worked previously for Alfred Berg (1998-2010) as Nordic Head of Fundamental Equity and was a member of the Nordic Executive Committee. He also held positions as Portfolio Manager and analyst in Alfred Berg. He was performance responsible and Portfolio Manager for Nordic Combined (2002-2010), Norwegian Equities (2002-2010) and Danish Equities (2007-2010).

Albert has received several awards: 2010 Lipper 10 Years of Excellence (TE5) for best Norwegian Equities Fund, 2008 Morningstar Award winner (High Conviction), 2002-2009 Nordic Portfolios (low TE) outperformance every year as Portfolio Manager, 2007 High Conviction Fund Gambak won absolute return 1# among 70 Norwegian Funds, 2006 Wall Street recognition 1# (among many) ranked European Funds 1 year and 2005 High Convictions Fund Gambak 1# excess return to benchmark in Norwegian fund universe. Albert is a mechanical engineer GTI graduate from Gothenburg and a BSc. (Hon) from Strathclyde Business School.

Read more

Alexander Larstedt Lager

Portfolio Manager

Mobile: 48403255
Office: 21013255

Alexander has a Master’s degree in Economics and Business Administration from the Norwegian School of Economics (NHH), with a major in finance. He previously attended the international IB Programme at St. Olav in Stavanger, and also participated at the 2013 NBIM Summer School. Alexander was appointed Portfolio Manager in the Norwegian Equity Team in January 2017..

Ivar Strompdal

Analyst/ Portfolio Manager (Partner)

Mobile: 48403245
Office: 21013245

Ivar has 26 years of experience from the financial markets and investments. He started out working 6 years as a stock broker. He has also spent 7 years as a equity market strategist with Alfred Berg and ABG Sundal&Collier. He has altogether about 13 years of experience as a fund manager for domestic and international equities with Gjensidige Forsikring, Vital Forsikring and Folketrygdfondet. He holds a Bachelor in Business Administration from the Norwegian School of Management (BI).

Marianne Bøe

Portfolio Manager

Mobile: 48403113
Office: 21013113

Marianne has been working in the financial industry since 2000 as portfolio manager of global equities with a focus on the technology sector. She also has experience from Sector Asset Management. Marianne holds a degree from Norwegian School of Economics (NHH)..

Carl Erik Sando

Analyst

Mobile: 48403210
Office: 21013210

Carl Erik has 18 years of experience as financial analyst for investment banks Elcon Securities, DnB Markets, Alfred Berg and Pareto Securities in the period 1987-2006 – specializing in banks and insurance companies. Following that, he was fund manager for domestic and international equities with Government Pension Fund (Folketrygdfondet, 2006-2010) and Odin Forvaltning (2011-2014). He holds a Bachelor in Business Administration (Siviløkonom) from the Norwegian School of Management (BI).

Sindre Sørbye

Portfolio Manager (Partner)

Mobile: 48403282
Office: 21013282

Sindre has experience from financial markets since 1997. Following two years as head analyst at Orkla's treasury department, he joined Orkla's Investment Division (OID) as a investment analyst in 1999. From 2006 he was portfolio manager for OID with focus on Nordic as well as Asian equities. In 2012 Sindre was one of the funding partners of Solsten where he worked as portfolio manager for Solsten's Nordic and Norwegian fund.

In 2016 he joined AFM as a portfolio manager. Sindre had 5 years of industrial experince prior to his career in the financial industry. Sindre holds a MSc in International Business from Manchester Business School as well as an MBM from Norwegian Business School, and he is also an Authorized Portfolio Manager (NHH).

Read more

Tore Mengshoel

Portfolio Manager (Partner)

Mobile: 48403232
Office: 21013232

Tore has 9 years of experience as portfolio manager with the Orkla Investment Division and spin-off Solsten before coming to Arctic Fund Management in 2016. Prior to Orkla, he worked for 10 years in technology venture investment with Teknoinvest and 4 years with management consultant McKinsey & Co. Tore holds a MSc in Computer Engineering from the Norwegian University of Science and Technology (NTNU) and an MBA from INSEAD.

Ole E. Dahl

Portfolio Manager (Partner)

Mobile: 48403241
Office: 21013241

Ole has 26 years of experience from domestic and international equity investments as portfolio manager, financial analyst and investment director. In addition, 6 years industrial experience. Has previously worked for Solsten (2012-16) as portfolio manager, Orkla Investment Division (1990-98 and 2003-12) as portfolio manager and investment analyst, Fondsfinans (2001-03) as financial analyst, Avanse Forvaltning (1998-2001) as investment director and portfolio manager and Norsk Hydro (1984-90) as corporate controller and financial manager.

Holds a MSc degree (siviløkonom) from Norwegian School of Economics (NHH).

Read more

Thomas Rasmussen

Analyst

Mobile: 48403143
Office: 21013143

Thomas previously worked in the middle office at the Norwegian Bank’s Guarantee Fund (2012-2014) and as an financial analyst intern at Advokatfirmaet Selmer. He holds an MSc in Financial Economics from the Norwegian School of Economics (NHH), a BSc in Business Administration from Bodø Graduate School of Business and a fixed income analyst degree (NFF)..

Trond Tømmerås

Portfolio Manager (Partner)

Mobile: 48403247
Office: 21013247

Trond previously worked for Alfred Berg (1998-2010) as Portfolio Manager and head of the Norwegian fixed income team and tactical asset allocation team. He was awarded the Lipper Fund Award in 2007, 2008 and 2009 for the best NOK denominated fixed income fund the last ten years. He worked for Storebrand (1993-1998) as fixed income Portfolio Manager and for Fokus Bank (1989-1993) as fixed income analyst/dealer.

He holds a BSc (Hon) from University of Warwick and M.A. from University of Reading and is also a Certified European Financial Analyst (AFA).

Read more

Cathrine Foyn

Portfolio Manager

Mobile: 48403242
Office: 21013242

Cathrine has experience from financial markets since 1991. She has previously worked as Chief Investment Officer at Protector Forsikring (2015-2017). Cathrine has also experience from Arctic Fund Management (2010-2015), Alfred Berg, Braathens Safe, Christiania Fonds and Oslo Stock Exchange. She is educated at BI Norwegian Business School and is an Interest Rate Analyst (NFF..

Jan Philippe C. Sissener

Portfolio Manager

Mobile: 48403234
Office: 21013234

Philippe worked at SEB Enskilda (2010-2013), where he held various positions while establishing the High Yield and Convertible Bond desk. He worked at Arctic Securities AS (2013-2015) within Fixed Income Sales. He holds a BSc in Business Administration from Babson College..

Investment Team Stockholm

Ulrica Slåne Bjerke

CIO Arctic Aurora LifeScience

Mobile: +46 70 991 8391
Office: +46 8 44686107

Ulrica has the overall responsibility for Arctic Aurora LifeScience investment portfolio. She has more than 15 years of successful track record as a Portfolio Manager in Health Care and has been a top ranked Health care Analyst for (10 years). Ulrica has an MBASc, CEFA, with a degree from Stockholm School of Economics and Medicine at the Karolinska Institute..

Torbjørn Bjerke

Portfolio Manager Arctic Aurora LifeScience

Mobile: +46 72 744 4158
Office: +46 8 44686108

Mr. Torbjørn Bjerke is a Medical Doctor with the responsibility of scientific, clinical and regulatory due dilligence of new opportunities and portfolio management in Arctic Aurora LifeScience. He has more than 25 years of executive experience within successful drug development and business development/M&A in both public and private science companies. Mr. Bjerke got his doctor degree from the University of Aarhus.

Daniel Bolanowski

Analyst Arctic Aurora LifeScience

Mobile: +46 703 303 06891
Office: +46 8 44686109

Daniel fills the role as an analyst in Arctic Aurora LifeScience with the responsibility of reaserch, value tracking. valuation, opportunity sourcing. He has more than 5 years experience as business analyst and has had several engagements for small biotech/medtech companies.Daniel has a MSc (Biotech) and a MSc (Business/Economics) from the University of Uppsala.

Fund Documentation

Annual and Interim Reports

Follow the link below for Arctic Funds Plc' Annual and Interim Reports

Memorandum

Follow the link below for Arctic Funds Plc' Memorandum and Arcticles of Association