Europe Small Cap (A)

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Lannebo Europe Small Cap is a newly started equity fund that expands Lannebo Fonder's genuine active management further into Europe. Investments are made based on the fund managers' selection of small and medium-sized quality companies with the potential to create substantial long-term returns at an acceptable risk.

Lannebo Fonder has always believed in small caps. In October 2016 we took the leap into Europe by welcoming two new fund managers to our team: Carsten Dehn and Ulrik Ellesgaard whom we consider to be among the very best fund managers of European small caps.

Why invest in European Small Cap?

Lannebo Fonder delivers genuine active management. Therefore, instead of staring at the screens, following the index and the stock market, we deepen our knowledge of companies we believe in. We look for, find and meet with companies with strong business ideas, stable balance sheets and great potential to invest in early on. Over the years we have developed a keen eye for quality companies that are profitable and can continue to perform for our unit holders over the long term regardless of external conditions. We like it when companies are experts at what they do, preferably world leading and we would like to see strong owners’ / management teams that advance the business forward.

The small-cap market is less efficient compared to large caps, allowing for greater potential of additional returns in each investment compared to the overall market. Despite the fact that the majority of European companies are small caps there are fewer players that monitor and analyse them. We want to capture these opportunities with our proven approach where we evaluate each company based on our own critical analysis.

Of Europe's 9,000 listed companies, 8,000 are small caps (market cap <5 billion euros). With such a large pool of potential investments it becomes more important to selectively evaluate the opportunities, while also considering risks. Your investments are important to us and we are extremely careful in our risk assessment and analysis. Before we actively invest in a stock, we spend considerable time evaluating the downside of the investment: the risk of losing money!

Investment Policy

Lannebo European Small Cap is an actively managed equity fund that invests in small and medium-sized enterprises in Europe. The companies the fund invest in should have a market capitalization not exceeding 5 billion Euros, or the equivalent in another currency at the time of investment. The fund may invest a maximum of 10 per cent of its value in companies with headquarters in Europe, but not listed in Europe, and / or without restriction to the size of the companies' market capitalization.

Management style

The fund managers make active investment decisions through analysis and equity selection. Focus is placed on each of the fund’s individual investments and their long-term potential. We strive to avoid being distracted by elements affecting the share price short-term. This leads to investments in quality companies, where we can have a knowledgeable opinion about their future growth potential, and where a company’s valuation is attractive.

The goal is that the fund, while taking a balanced approach to risk, should provide the best possible return. The performance of the fund is compared to the MSCI Europe Small Cap Index. Since the fund is actively managed, performance over time will deviate from this index.

The fund is suitable for those who

- want to invest in small and medium-sized companies listed on European equity markets
- want an actively managed fund where investments are based on a clear understanding of each individual company
- can accept that fluctuations in performance may occur, and have an investment horizon of at least five years

Other information

Minimum investment in the fund is 100 Swedish kronor.
The fund’s official name is Lannebo Europa Småbolag.

 

Fund manager

Carsten Dehn

Carsten Dehn manages Lannebo Europe Small Cap together with Ulrik Ellesgaard. He has 25 years’ experience as fund manager and analyst, primarily from SEB and Alfred Berg. In the years 2005-2016 he was managing SEB European Small Cap which ranked 5 stars from Morningstar in 3 years as well as 5 and 10 years, which is very unusual. Born in 1965. Master degree from Copenhaguen Business School. Fund manager at Lannebo Fonder since October 1, 2016.

Ulrik Ellesgaard

Ulrik Ellesgaard manages Lannebo Europe Small Cap together with Carsten Dehn. He has 12 years’ experience as fund manager and analyst from SEB. In the years 2007-2016 the team were managing SEB European Small Cap which ranked 5 stars from Morningstar in 3 years as well as 5 and 10 years, which is very unusual. Born in 1982. Master degree from University of Copenhagen. Fund manager at Lannebo Fonder since October 1, 2016.

 

 

Risk Information: Past performance is no guarantee of future returns. The money you invest in a fund can both increase and decrease in value and it is not certain that you will get back the full amount invested.
The fund's value can fluctuate significantly due to its composition and fund management methods used by the Fund Management Company.

Return

NAV
12.35
Previous Day
0.24%
Start of the year
26.15%
Since start
23.50%

Fund facts

Inception date
2016-10-17
Starting price
10,00 SEK
Bankgiro
5140-8037
ISIN
SE0008092290
NAV
Daily
Fixed fee
1,6%

Share class

The fund is available in SEK and EUR. This information applies to Share class A SEK.

Risk/return profile

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