Håvard Nesheim

Manufactures men's and women's apparel

Provides brokerage services

VK is an active, value-oriented investor and manages diversified portfolios invested primarily in equity from Norway and the Nordic countries and to a lesser extent in fixed-income. They also manage a global fund invested in the Alliance Bernstein Global Growth trend fund. The firm's investment philosophy is based on bottom-up fundamental stockpicking. They primarily base investment decisions on the assessment of balance sheets, company management and their relationship with shareholders, as well as the analysis of the growth potential and structure of the market in which the company is traded, and the investee's position in that market. Among these criteria, VK believes company management is crucial. As a consequence company visits are essential in their decision making process.

Wiborg is an active, long-term manager which aims to achieve a maximum risk-adjusted absolute return through the Consepio fund by modifying the fund's risk profile using various investment strategies. They follow a value-based investment philosophy with a top-down approach to analyze the macro economy, megatrends, geographical regions and sectors, conduct fundamental analysis and perform company valuations. The firm invests in equities and equity-related instruments, primarily in Nordic countries, but also in the EU, EFTA, Australia, Hong Kong, Japan, Canada, Singapore, Russia and the US, aiming to buy undervalued companies that are disregarded by other investors, or to sell short companies that are overvalued. They assess corporate value based upon their expertise and their understanding of a company's products, services, and markets and analyze their market position, financial situation and their management and board. Derivatives may be utilized as part of the fund's hedging strategy. Because of the fund's status as a special fund, Consepio's fund managers have a greater degree of freedom in managing the fund, especially in terms of risk exposure and risk management. They apply established routines and systems for measuring, analyzing and correcting risk in individual positions as well as for the overall portfolio.