Protean Select is an actively managed Special Fund that invests in the Nordic markets. Over time, the fund will have a positive net exposure to the Nordic stock market and a predominance towards small and medium-sized companies. The fund may short, i.e. have a negative exposure to indices and individual financial instruments. The fund does not focus on any particular sector. The fund does not follow any index, but the goal is to generate a good long-term absolute return regardless of market climate, with a generally lower standard deviation than a broad Nordic equity index (MSCI Nordic).

The management strategy can generally be described as the managers seeking to identify situations where there is an asymmetric risk; situations that may, for example, be considered to have a limited risk of loss of capital but a reasonable potential for increased value, or a large potential for increased value to a higher but still acceptable risk. The portfolio managers base their assessments on fundamental analyses, meetings with company representatives, external analysis suppliers, market climate and analyses of ownership circumstances. The portfolio managers do not pursue any specific investment style, but intend to generate good risk-adjusted returns regardless of which investment philosophy is fashionable at any given time.

Key features of the fund are:

• Versatility and adaptability. The PMs aim to adjust the strategy depending on the current market regime.

• Focus on returns, not on AUM gathering. The fund will remain small, to safeguard participation in the size-limited Nordic investment opportunity set.  

• Skin in the game. The managers have all their assets invested in the product, ensuring perfect alignment with investors.

The fund is aimed at professional and non-professional investors with an investment horizon of at least three years.

To optimize the fund's management volume and to safeguard the interests of investors, the AIFM has the right to decide to close the fund for subscriptions of new fund shares. Any decision to close can only be made if the fund's assets under management exceed SEK 2 billion, which the AIFM considers to be an optimal management volume given the fund's strategy and prevailing market situation.