AMWatch

Hedge fund manager believes in software service trend, but rules out "too small" Nordic companies

Former top-performing hedge fund manager Ernst Grönblom notes that more and more enterprise software services are opting for cloud-based services, which makes SaaS companies attractive investment targets. Nordic software companies, however, remain too small for his hedge fund.

Ernst Grönblom, analyst at United Bankers in Helsinki. | Photo: United Bankers PR.

Hedge fund manager Ernst Grönblom has spent the past nine months co-developing a long-only hedge fund, Thales Argo, at United Bankers.

Since its launch in November 2020, Thales Argo has reached a net asset value of approximately EUR 80m, and pulled in a year-to-date return of approximately 15 percent for the roughly ten stocks it invests in.

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